Sedana Medical AB (publ) (SEDANA) Earnings Call Transcript & Summary
January 25, 2023
Earnings Call Speaker Segments
Unknown Attendee
attendeeFirst of all, congratulations on your listing.
Johannes Doll
executiveThank you so much.
Unknown Attendee
attendeeCould you please tell us more about Sedana? What are your business?
Johannes Doll
executiveYes. So Sedana Medical is a medical device company, and we're bringing a new generation of sedation to intensive care. So if you are a patient that needs to be treated in an intensive care unit, and you can't breathe by yourself and you need to be mechanically ventilated because you maybe had an accident or a surgery or a trauma or a sepsis. And it's quite likely that you need to be sedated, so put to sleep or relax down a little bit, so you can cope with the situation, the fear, the anxiety, the pain and also to tolerate the plastic tube that's down your throat and the machine forcing oxygen into your lungs. So it's a very, very uncomfortable situation. And what we've shown in the big clinical trial is that patients that received inhaled sedation with our Sedaconda products were better off than with the old standard of care. They woke up faster. They recover faster. They needed less opioids, and they also have better chances of breathing spontaneously. And importantly, they were also shown to leave the intensive care unit several days earlier. So very fantastic results, which was the basis for approval in 17 countries so far. So now we're working hard on becoming the new standard.
Unknown Attendee
attendeeSounds good. And why should one investor look at your business? Why should one invest in Sedana?
Johannes Doll
executiveYes. So from an investor perspective, the company has been through a rollercoaster ride during and after COVID with first, a very, very steep increase and then a dramatic decrease in the number of patients in intensive care units. So now we are gradually moving into a new normal after COVID, and that is really the time to refocus on the fundamentals of the company, which I think are very, very attractive. So we have quite high gross margins around 70%. So by definition, when we reach scale, this can become a very profitable company. And we already have the proof of concept for that because more than half of the intensive care units in Germany are already our customers. So we have shown that it can be done. We've reached sales levels that allow us to be quite profitable on a local level. And now it's really about replicating that success in more countries. As I said, 17 countries where we have the full approval. So lots of places for us to grow, which is very exciting. And on top of that, we're already preparing for the U.S. market, which is our largest potential market. Clinical trial is ongoing. FDA has granted us Fast Track designation, which is fantastic. And we've already run a trial in Europe with the same endpoint. So we are really optimistic that we can repeat these results and hopefully bring this to American patients in 2025.
Unknown Attendee
attendeeAnd why was the step to the main market an important step for you?
Johannes Doll
executiveYes. Well, first of all, as I said, it's a quality stamp for us, right? It's a very rigorous process. A lot of work by my team that has gone into this. Very proud of my team that we've gotten to this point. But from a business perspective, we're becoming more global, right? As I said, full approval in 17 markets. We've sold the devices in more than 40 countries. We have the U.S. as the next growth horizon just around the corner. So the story is becoming much more interesting, much more appealing to investors, of course, in Sweden, but importantly, also outside Sweden. So we're hoping to broaden our shareholder base internationally.
Unknown Attendee
attendeeThank you so much.
Johannes Doll
executiveWell, thank you.
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