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Pin to quick picksCreo Medical Share News (CREO)

Share Price Information for Creo Medical (CREO)

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Share Price: 35.65
Bid: 35.30
Ask: 36.00
Change: 2.30 (6.97%)
Spread: 0.70 (1.983%)
Open: 32.70
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Creo Medical Interim Loss Widens On Costs As Targets Revenue In 2019

Tue, 20th Mar 2018 13:50

LONDON (Alliance News) - Medical device firm Creo Medical Group PLC said Tuesday its half-year loss widened amid higher administrative costs as it expects full commercial launch of its products to occur in 2019.

For the six months ended December 31, pretax loss widened to GBP5.1 million from GBP4.7 million the year prior after administrative expenses grew. Administrative costs rose to GBP5.2 million from GBP4.8 million the year before.

Creo did not generate any revenue in either year. Other income, however, shrank to GBP105,000 from GBP127,861 the year prior.

"I am pleased with the progress we have made against all our strategic objectives, not only in the first half of FY 2018, but over the last twelve months," Creo Chief Executive Officer Craig Gulliford said. "Since we listed in December 2016, we have achieved CE marking and FDA clearance ahead of schedule for our first product, Speedboat RS2, in Europe and the US."

"We are executing against our training led commercialisation plan, targeting selected clinicians and key opinion leaders to drive clinical adoption," Gulliford added. "Significantly, the first patients in the UK have been treated using our Speedboat RS2 device powered by our CROMA platform. Furthermore, our technology has been deployed and utilised at a second NHS site.

"The advances that we have made in our pipeline positions us well to become a leading advanced energy, minimally invasive, medical device company," Gulliford continued. "We remain on track for full commercial launch in 2019."

Shares in Creo were 5.4% lower at 107.85 pence on Tuesday.

More News
15 May 2024 12:11

Creo Medical on track to break even next year on strong 2023 results

(Alliance News) - Creo Medical Group PLC on Wednesday reported improved performance as the company expanded its product offerings.

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8 May 2024 15:52

UK earnings, trading statements calendar - next 7 days

Thursday 9 May 
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Derwent London PLCTrading Statement
Flutter Entertainment PLC Trading Statement
Harbour Energy PLCTrading Statement
IMI PLCTrading Statement
ITV PLCTrading Statement
John Wood Group PLCTrading Statement
Rathbones Group PLCTrading Statement
Spire Healthcare Group PLCTrading Statement
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Wheaton Precious Metals CorpQ1 Results
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Diploma PLCHalf Year Results
HgCapital Trust PLCQ1 Results
Huddled Group PLCFull Year Results
Team Internet Group PLCQ1 Results
Victrex PLCHalf Year Results
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Currys PLCTrading Statement
DCC PLCFull Year Results
Flutter Entertainment PLCQ1 Results
Greggs PLCTrading Statement
Marston's PLCHalf Year Results
On The Beach Group PLCHalf Year Results
Renew Holdings PLCHalf Year Results
Treatt PLCHalf Year Results
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Spirax-Sarco Engineering PLCTrading Statement
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Tui AGHalf Year Results
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24 Apr 2024 16:04

TRADING UPDATES: ActiveOps sales up; Sancus turnover jumps

(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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1 Mar 2024 14:06

Creo device used in 'groundbreaking' lung cancer procedure

(Sharecast News) - Creo Medical Group announced a significant milestone in the field of minimally-invasive surgical endoscopy for cancer patients on Friday, with its 'MicroBlate Flex' device.

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1 Mar 2024 13:34

EARNINGS AND TRADING: Dar Global celebrates "outstanding" year

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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7 Feb 2024 11:49

Creo Medical FY revenues up double digits

(Sharecast News) - Medical device company Creo Medical said on Wednesday that 2023 was "a pivotal year" for the firm, with new products supporting "strong growth" and leading to a double-digit jump in group revenues.

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7 Feb 2024 10:54

Creo Medical makes "considerable strides" toward 2025 break-even goal

(Alliance News) - Creo Medical Group PLC on Wednesday said that cost controls and new product sales had supported strong growth in 2023, as the company said it is on track to achieve cash flow break-even by 2025.

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5 Feb 2024 12:11

IN BRIEF: Creo Medical partners with Khalifa University in Abu Dhabi

Creo Medical Group PLC - Chepstow, Wales-based medical device company focused on surgical endoscopy - Will collaborate with Khalifa University of Science & Technology in Abu Dhabi. Says partnership has an initial focus on healthcare challenges relevant to the population in the United Arab Emirates, as well as the wider Middle East and North Africa region. Chief Executive Officer Craig Gulliford says: "As part of our strategy, we are driven to exploit our IP either directly or in partnership with third-parties, as shown by our robotic assisted surgery collaborations. Khalifa University is a research-intensive organisation with a similar drive to develop and commercially exploit leading technologies, at scale and on a global basis. The combination of Creo's people, technology and IP with Khalifa University's teams, technologies, facilities and resources represents a great opportunity for both organisations to advance and commercialise incremental technology and products and enhance research profiles internationally."

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31 Jan 2024 18:15

TRADING UPDATES: Creo unveils product in APAC; Unilever hires director

(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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10 Jan 2024 12:32

Creo Medical's Speedboat UlstraSlim device used in Latin America

(Alliance News) - Creo Medical Group PLC on Wednesday said its Speedboat UltraSlim device has been used successfully in Latin America for the first time.

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15 Dec 2023 14:17

IN BRIEF: Creo Medical's SpeedBoat UltraSlim successfully used in US

Creo Medical Group PLC - Chepstow, Wales-based medical device company focused on surgical endoscopy - Says SpeedBoat UltraSlim device has been successfully used in the US across multiple clinical applications. SpeedBoat UltraSlim is third brand in its Speedboat family of devices alongside Speedboat Inject and offers a number of different features.This primarily includes the reduced size in comparison with the Speedboat Inject, Creo Medical said, making the device compatible with all endoscopes with a 2.8 millimetre working channel or larger.

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13 Dec 2023 21:14

TRADING UPDATES: Good Energy says ZapMap expands into mainland Europe

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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13 Dec 2023 14:28

Creo launches 'Speedboat Ultraslim' with first UK procedure

(Sharecast News) - Creo Medical Group announced a significant milestone for its Speedboat UltraSlim medical device in the field of surgical endoscopy on Wednesday.

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1 Nov 2023 14:28

Creo Medical gets US FDA clearance for Speedboat UltraSlim

(Sharecast News) - Medical device company Creo Medical Group announced on Wednesday that it has received 510(k) clearance from the US Food and Drug Administration (FDA) for its Speedboat UltraSlim device.

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25 Oct 2023 13:44

Creo Medical accelerating EU launch of Speedboat UltraSlim

(Sharecast News) - Creo Medical Group announced the acceleration of its EU launch of the 'Speedboat UltraSlim' device by around 18 months on Wednesday.

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