Axonics Modulation Technologies Inc. (NASDAQ: AXNX) reported Q3 EPS of ($2.67), versus ($0.43) reported last year. Revenue for the quarter came in at $200 thousand versus the consensus estimate of $100 thousand.

Raymond W. Cohen, CEO of Axonics commented, “First and foremost, we are focused on concluding our ARTISAN-SNM pivotal clinical study where we expect all subjects will reach their six-month post-implant endpoint in early January 2019. Gaining FDA approval is the single most important objective for Axonics and, as such, we are aggressively pursuing the literature-based PMA and also continuing to gather clinical data using our IDE study in order to obtain U.S. marketing approval in the shortest possible timeframe.”

Cohen continued, “We are also actively and carefully recruiting and securing talented and experienced sales managers and sales field professionals with approximately 30 of these individuals planning to attend our first formal training program scheduled for mid-January 2019. We have also been opening new accounts and securing both initial and repeat orders for commercial implants of our r-SNM System in Europe and Canada. The NICE briefing indicates key features and benefits of the system and should further aid us in gaining traction in the U.K. following our listing on the NHS online catalogue. Overall, we are making excellent progress on our key operational and clinical initiatives.”

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