Nyxoah Reports Financial Results for Q2 and H1 2024

Nyxoah SA, a medical technology company, has announced its financial results for the second quarter and first half of 2024. The company completed its FDA regulatory submission, maintaining its U.S. approval trajectory for late 2024. Further, the firm successfully raised over €85 million, ensuring the U.S. commercial launch is fully funded.

Financial highlights include second-quarter revenue of €0.8 million, with a 29% growth in first-half 2024 sales compared to the same period in 2023. Total cash reserves stand at €77.8 million, excluding the €37.5 million loan from the European Investment Bank.

Operationally, Nyxoah strengthened its commercial team, highlighted by the appointment of key leaders, including a new Chief Commercial Officer. The company is actively recruiting top sales and marketing talent in preparation for the U.S. launch.

Despite reporting a net loss of €25.0 million for the first half of 2024, an increase from €24.7 million in the previous year, the CEO, Olivier Taelman, remains optimistic. He emphasizes the importance of the upcoming ISSS meeting in September, where pivotal study data will be presented.