Mainstay Medical announced its half year financial report and an update on its ReActiv8 clinical trial.
Here are seven things to know:
1. For the first half of 2017, Mainstay Medical reported $250,000 in revenues and $12.3 million in operating expenses.
2. The increase in operating expenses from $8 million last year is due to the increased enrollment and implants in the ReActive8 trial.
3. Mainstay Medical reported $24.5 million in cash on hand and $11.4 million in operating cash outflows for the first half of 2017.
4. ReActiv8 is an implantable restorative neurostimulation system to treat disabling chronic low back pain.
5. Currently, ReActiv8 is under an investigational device exemption from the FDA. Mainstay Medical expects clinical trial results to be available in 2018.
6. In February 2017, Mainstay Medical announced its first implant of ReActiv8 at the Catholic Hospital Koblenz-Montabaur in Germany.
7. In May the company began commercializing ReActiv8 in Ireland.