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KOMISJA NADZORU FINANSOWEGO |
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Raport bieżący nr |
9 |
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2020 |
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Data sporządzenia: |
2020-03-20 |
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Skrócona nazwa emitenta |
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MILESTONE MEDICAL |
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Temat |
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The Impact of the COVID-19 Outbreak on Commercial Rollout of CompuFlo® Epidural System
and Financial Results in 2020
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Podstawa prawna |
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Art. 17 ust. 1 MAR - informacje poufne.
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Treść raportu: |
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The Board of Directors of Milestone Medical Inc. _WAR: MMD, “the Company", “the Issuer"_,
today announced the impact of the COVID-19 outbreak on the commercial rollout of the
CompuFlo® Epidural System and the Issuer's financial results in 2020, in relation
to the recommendation of The European Securities and Markets Authority _ESMA_ on March
11, 2020 and The Polish Financial Supervision Authority _KNF_ on March 12, 2020. The
Board of Directors of the Issuer is continually monitoring and following the advice
of the WHO and national authorities in the U.S. and Europe to reduce the spread of
COVID-19. The Company is doing its part to promote and protect the health of the employees
and partners by maintaining safe working environments or remote working. On the supply
side, the current inventory level for epidural instruments and handpieces are sufficient
to cover immediate needs for at least the next two financial quarters. All of the
Issuer’s suppliers continue to manufacture the instrument and The Board of Directors
of Issuer do not anticipate any supply chain disruptions. The Issuer’s epidural instrument
factory in the USA is still producing instruments under current purchase orders. The
Company’s supplier in China is in operation for limited production and the Issuer
is anticipating the first delivery of handpieces by the end of May 2020.
Going forward, as the social gatherings are currently prohibited, the Board of Directors
od the Issuer adjusted its commercial rollout strategy by placing the system with
key opinion leaders, leading anesthesiologists in the U.S., and Europe as well as
distributors and Group Purchasing Organizations _GPO_ utilizing distance communication
and training instead of face-to-face meetings and trade shows. The Issuer’s presentation
at the prestigious Euroanaesthesia 2020 Congress in Barcelona was postponed to either
21-24 August or 28-31 August 2020. However, the Board of Directors of the Company
is aware of the potential for lower demand near-term, as the anesthesiologists and
hospitals are currently focusing on fighting the COVID-19 pandemic. Nevertheless,
the Board of Directors of the Issuer remains confident in the long-term outlook for
the business, and the prospects for the CompuFlo Epidural System to become the standard
of care in the coming years. At the moment, it is difficult to predict the magnitude,
duration and precise impact of the COVID-19 outbreak on Issuer’s financial results
in 2020.
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RB_ASO: The Impact of the COVID-19 Outbreak on Commercial Rollout of CompuFlo® Epidural System
and Financial Results in 2020
