Edition:
United Kingdom

Mainstay Medical Says Primary Endpoint Of Reactiv8-B Clinical Trial Was Not Achieved


Thursday, 18 Apr 2019 

April 18 (Reuters) - Mainstay Medical International PLC ::MAINSTAY MEDICAL- PRIMARY ENDPOINT OF REACTIV8-B CLINICAL TRIAL WAS NOT ACHIEVED DUE TO HIGHER RESPONSE IN CONTROL PATIENT GROUP THAN WAS EXPECTED.MAINSTAY MEDICAL INTERNATIONAL PLC - REACTIV8-B STUDY RESULTS RECEIVED; PRE-PMA SUBMISSION MEETING WITH FDA EXPECTED DURING Q2.MAINSTAY MEDICAL INTERNATIONAL PLC - REVENUE DURING YEAR ENDED 31 DECEMBER 2018 WAS $0.7 MILLION (2017: $0.3 MILLION).MAINSTAY MEDICAL INTERNATIONAL PLC - CASH ON HAND AS AT 31 DECEMBER 2018 WAS $15.5 MILLION (2017: $10 MILLION).MAINSTAY MEDICAL-REPAYMENT SCHEDULE FOR 3 TRANCHES DRAWN UNDER DEBT FACILITY WAS AMENDED SUCH THAT NO PRINCIPAL OR INTEREST WILL BE REPAID UNTIL 2021.MAINSTAY MEDICAL- NEW TRANCHE OF EUR 3 MILLION AVAILABLE CONDITIONED UPON CO RAISING AT LEAST $10 MILLION FROM ONE OR MORE OFFERINGS OF EQUITY BEFORE JUNE 30. 

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