EDAP Reports Third Quarter 2010 Financial Results
"The long-term data for localized prostate cancer that was published in September further validated the clinical experience that has been achieved across Europe over the past fifteen years. At the same time, we are pursuing earlier stage opportunities to expand the oncology applications of our HIFU technology through the research collaborations for HIFU ablating metastatic liver cancer and for combining HIFU with ultrasound sensitive liposomes to activate the targeted delivery of cancer drugs."
Recent Strategic Milestones and Initiatives
- HIFU for potential treatment of metastatic liver cancer: The first phase of the clinical protocol aimed at evaluating High Intensity Focused Ultrasound (HIFU) technology in patients with metastatic liver cancer was successfully completed. Clinical results observed fully conformed with those obtained in pre-clinical studies and validated HIFU as being an additional potential option to address liver cancer.
- Expansion of sales force to address large Japanese market for lithotripsy: EDAP strengthened its lithotripsy sales force in Japan to address one of the largest markets for the treatment of urinary stones. Earlier this year, EDAP received Japanese marketing approval for its fully integrated and robotized Sonolith i-sys lithotripsy device.
- HIFU for potential improvement of cancer drug delivery: Feasibility studies aimed at improving delivery of cancer drugs using a combination of ultrasound sensitive liposomes and High Intensity Focused Ultrasound (HIFU) were successfully completed.
- Favorable long-term HIFU data for treatment of localized prostate cancer: In September 2010, EDAP reported on a study of 803 patients with localized prostate cancer, treated with Ablatherm-HIFU from 1993 until 2007. This study, carried out by Dr. Sebastien Crouzet, Urologist at Edouard Herriot Hospital in Lyon, France, demonstrated the durability of efficacy outcomes of robotic Ablatherm-HIFU in the treatment of localized prostate cancer.
- Entry into fast growing China market: EDAP entered into an exclusive distribution agreement with Shaw Han Biomedical Co. Ltd to obtain approval of EDAP's Ablatherm-HIFU device for the treatment of prostate cancer and distribute the devices in China.
Third Quarter Results
Total revenue for the third quarter 2010 were EUR 5.3 million (USD 7.0 million), an increase of 15.5% as compared to EUR 4.6 million (USD 6.7 million) for the third quarter 2009.
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