Qld life-science firms earnings 2017, Impedimed, Oventus, Factor Therapeutics, Anatara: hoping for boosts from trials, US sales

RIGHT now it’s all red ink, but Qld-backed life-science companies are aiming for a kick up in US sales, awaiting key trial results or hoping to negotiate favourable deals.

Queensland-backed life-sciences companies are developing items from anti-snoring devices to healing gels.

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QUEENSLAND-backed life-science companies are aiming for a kick up in US sales, awaiting key trial results or hoping to negotiate favourable deals in the upcoming year.

The companies are still posting a steady stream of red ink, according to earnings results, but these are normal for companies developing everything from diarrhoea treatments to anti-snoring devices.

Impedimed, stemming from University of Queensland and QUT researchers, posted a deeper loss of $27.6 million for the full year, against a $26 million loss a year earlier.

Its device detects changes in body water, potentially helping with early detection of cancer-linked ailments and or heart problems.

Impedimed has 76 staff now focused on the US, and last year spent more on employees, and research and development. Its chief executive officer Richard Carreon earned $1.95 million in 2017, although much of that is in long-term potential stock that still has hurdles.

Morgans analyst Scott Power said Impedimed’s loss was in line with forecasts and the market was looking to results this year from a 1100 person trial.

A successful trial result might pique the interest of insurers to cover Impedimed’s device. Mr Power estimated - depending on the success of matters such as the trial - Impedimed could finally turn a $4.2 million profit in 2019.

Impedimed chief financial officer Morten Vigeland said positives in the year including development of a new-generation of its device (called Sozo), which the company is even thinking of selling in gymnasiums.

The company also worked with more cancer-treatment centres, but Mr Vigeland said sales might have been softer than some market expectations. Revenue from sales of goods was flat at $5.5 million.

Sozo is designed to be easier to use than Impedimed’s older device. “We really think we can get traction” with such a device, Mr Vigeland said.

Brisbane-based Factor Therapeutics posted a reduced loss of $5.6 million, as it too looks to finish recruiting patients this calendar year for a US trial into using its wound-healing technology on people with hard to heal ulcers.

Anatara Lifesciences, developing a diarrhoea treatment for livestock, notched a deeper $1.7 million loss. It recently had a share boost with pharmaceutical giant Zoetis proceeding with negotiations for Anatara’s product.

But the company only says it is still preparing for a market launch in Australia — Anatara’s initial prospectus had aimed for a mid-2016 kick-off.

Anti-snoring device maker Oventus was aiming for an October launch of new products in the US. It recorded a deeper $6.5 million loss for 2017. Sales revenue fell from $540,000 to $447,000.