- Biologic heart valve maker Anteris Technologies (AVR) is continuing to make progress in the development of its DurAVR 3D single-piece aortic valve
- The company has successfully implanted five patients with the product in its First-In-Human surgical aortic valve replacement (SAVR) trial
- If successful, the device will be the first of its kind to provide a cure for severe aortic stenosis — a condition where the aortic valve narrows, reducing blood flow to the body
- According to the company’s September quarterly report, Anteris had $4.8 million in the bank after quarterly cash outflows of around $1.7 million
- Positively, Anteris says so far, the COVID-19 pandemic has had no major impact on the company and its operations
- Shares in Anteris were up this morning but have since retreated back to the grey line, currently worth $4.04 each
Anteris Technologies (AVR) is continuing to make progress in the development of its DurAVR 3D single-piece aortic valve.
The company told shareholders in its latest quarterly report this morning it has successfully implanted five patients with the product in its First-In-Human surgical aortic valve replacement (SAVR) trial.
Anteris’ DurAVR valve is demonstrating ongoing superior performance results in bench, animal, and human studies, according to the company.
This means the product is promising to be the first transcatheter aortic valve replacement (TAVR) to provide a functional cure for severe aortic stenosis, which is a condition where the aortic valve narrows, reducing blood flow to the body and making the heart work harder.
Over the September quarter, Anteris pulled in $3.5 million in cash receipts, which underpinned the company’s $1.8 million in quarterly net revenue. The company said the revenue was largely made up of manufacturing for business partner LeMaitre Vascular.
Nevertheless, the company posted net quarterly cash outflows of around $1.7 million.
With around $4.8 million worth of cash in the bank, Anteris can continue to operate for another 2.75 financial quarters at current spending levels.
Positively, Anteris said so far, the COVID-19 pandemic has had no major impact on the company and its operations despite the havoc the virus has wrought across the world.
Anteris CEO Wayne Paterson said the company is making significant process and garnering strong interest from potential strategic investors based on the data it is generating for its core products.
“Benchtop and pre-clinical trials are providing critical insights and valuable data in the development of our 3D single-piece aortic valve,” Wayne said.
“The results of these studies and the data generated to date in our First-In-Human study reinforce that DurAVR can deliver valve function that replicates a pre-diseased valve,” he explained.
“If we keep generating these outcomes, it will provide a functional cure for those patients suffering from severe aortic stenosis.”
Shares in Anteris started the day green but have since retreated back to the grey line. At 2:29 pm AEDT, AVR shares are trading flat at $4.04 each. The company has a $23.88 million market cap.