During the period Admedus grew revenues by 16% compared with the previous quarter, the sixth consecutive quarter of sales growth for the Company. Sales for the first half of the year were $6.5M, a 37% increase compared with the half year end 31 December 2014.
CardioCel sales for the first half of the financial year were $2.3M, which are approaching the CardioCel sales for the full 2015 financial year of $2.64M, illustrating the continued global growth and traction of CardioCel. Admedus anticipates CardioCel sales growth to continue for the rest of the financial year, driven by the expansion of CardioCel into the adult cardiovascular market, expansion into new countries including the MENA region and the Company’s pending vascular product launch.
The net cash spend for the quarter was $4.5M, down 38% from the previous quarter. The Company continues to monitor and adjust its expenses relative to the growing sales revenue.
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CardioCel sales for the first half of the financial year were $2.3M, which are approaching the CardioCel sales for the full 2015 financial year of $2.64M, illustrating the continued global growth and traction of CardioCel. Admedus anticipates CardioCel sales growth to continue for the rest of the financial year, driven by the expansion of CardioCel into the adult cardiovascular market, expansion into new countries including the MENA region and the Company’s pending vascular product launch.
The net cash spend for the quarter was $4.5M, down 38% from the previous quarter. The Company continues to monitor and adjust its expenses relative to the growing sales revenue.
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