COVID-19 Delays Short Term Revenue, While the Commercial Launch of IRRAflow and Hummingbird Progresses

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STOCKHOLM, June 30, 2020 /PRNewswire/ — IRRAS AB, a commercial stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today provided an update on the launch of its IRRAflow® and Hummingbird ICP Monitoring product lines during the evolving global COVID-19 pandemic.
“Since early March, like many other companies around the world, covid-19 has changed IRRAS’ business significantly, and our expected revenue growth during the first and second quarters of 2020 has been negatively impacted,” said Kleanthis G. Xanthopoulos, Ph.D., Chief Executive Officer of IRRAS.
The New England Journal of Medicine recently analyzed data on more than 231,000 patients that were imaged for a potential stroke in the United States from July 2019 to April 2020 and estimated that imaging was down 39% from February to early April of this year. A second study published in Stroke showed a similar 40% decrease in stroke admissions between February 2019 and February 2020 in China.
“Patients with intracranial bleeding require emergent treatment, so our current customer base where IRRAflow has been previously evaluated and ordered have continued their use of the system. However, overall stroke volumes have dropped globally, and our IRRAS team’s access to hospitals around the world has understandably been restricted,” added Xanthopoulos. “Hospitals have …

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