Trellus Health expecting full-year loss in line with expectations
By Josh White
Date: Tuesday 20 Dec 2022
(Sharecast News) - Trellus Health said in an update on Tuesday that for the 2022 period, it was expecting to report that "modest" revenue and an EBITDA loss in line with expectations.
The AIM-traded firm said that at year-end on 31 December, its net cash position was expected to be no less than $18m - slightly better than expected, which the board put down its "close control" of cash.
As it announced in its interim results, and assuming only the level of revenue at that time was maintained, the company said its cash runway was expected to extend into 2025.
Trellus said it would provide a "more detailed" trading update by early February.
Additionally, as it previously announced, Trellus signed two contracts with the Mount Sinai Health System to provide certain patients with access to the Trellus Resilience Training and Self-Management Program for inflammatory bowel disease.
"The first contract will see Mount Sinai make the Trellus IBD program available to, and paid for, as a wellness benefit, to all Mount Sinai Health System employees, focusing initially on inflammatory bowel disease, including Crohn's Disease and ulcerative colitis," the board said in its statement.
"Mount Sinai has a robust employee wellness program which is offered free of charge to all faculty and staff.
"The second contract is to make the Trellus IBD program available, again as a wellness benefit, to eligible patients who are members of a large New York state labour union, which provides health services and benefits to its members through Mount Sinai."
Trellus said that while there was no minimum revenue guarantee under the contracts, the IBD programme was being made available from 1 January as a wellness benefit to eligible participants who had been made aware of the offering.
"These contracts support the company's strategy of rolling out its solution to a wider patient audience.
"The company expects to provide further commentary on its business development opportunities when it issues its further update in early 2023."
At 1231 GMT, shares in Trellus Health were down 8.09% at 10.11p.
Reporting by Josh White for Sharecast.com.
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