Anteris Technologies reports Q2 results and trial updates

• Anteris Technologies reported its financial results for the quarter ended June 30, alongside corporate and clinical updates.
• The company share price was down at $12.85 following the operational update.
• Management highlighted ongoing clinical progress as part of its commercialisation strategy for its medical devices.

Anteris Technologies (ASX:AVR) reported financial results for the quarter ended June 30, alongside operational updates for its clinical trials.

The company’s net operating cash outflows for the three months were US$20.8 million, primarily attributable to clinical, regulatory and manufacturing requirements to support the PARADIGM Trial.

Operating expenditures reflected the phased execution of the clinical programme during the quarter, including the timing of U.S. site activation activities following receipt of the CMS coverage determination in April.

"Q2 marked an important period of execution for Anteris as we advanced the PARADIGM Trial across clinical, regulatory and reimbursement milestones," said Anteris Vice Chairman and Chief Executive Officer Wayne Paterson.

The business secured U.S. Medicare reimbursement eligibility under a Centres for Medicare & Medicaid Services national coverage policy was initiated for U.S. patient enrolment in May.

Following the announcement, the Anteris Technologies share price was down at $12.85.

The company focuses on designing, developing, and commercialising medical devices intended to restore healthy heart function.