This article is more than 5 years old. Information may no longer be current.
Motus GI reports net revenue decrease in third quarter, clinical trial enrollment
Click Here to Manage Email Alerts
Motus GI reported a net loss of approximately $5.2 million in its third quarter, or $0.33 per share.
For the nine months ended in September, Motus GI reported a net loss of approximately $16.7 million, or $1.13 per share.
“We have made significant progress in recent months to ensure the Company is positioned for a successful commercial launch of the Pure-Vu System in 2019,” Tim Moran, CEO of Motus GI, said in a company press release. “I firmly believe that a critical part of that process includes having the right team in place, not only at the executive level but across our commercial organization. We have made, and are continuing to make, strategic hires for key sales positions and have established goals to call on and secure new accounts.”
During the third quarter, the FDA granted Motus GI 510(k) clearance for the commercialization of its Pure-Vu System, which fits over a colonoscope without interfering with the working channel, and a workstation controller to aid slim colonoscopy procedures.
Motus GI expects a full commercial launch of the Pure-Vu System in the U.S. and select international markets in 2019, according to the release.
Additionally, Motus reported that enrollment for the Reliable Endoscopic Diagnosis Utilizing Cleansing Enhancement (REDUCE) study is underway.
The REDUCE study, a multi-center prospective trial, is aimed to evaluate the Pure-Vu System’s ability to cleanse the colon to facilitate a successful colonoscopy in a timely manner in patients who are indicated to undergo an inpatient diagnostic colonoscopy procedure.
Motus expects to announce results of the REDUCE study in the first quarter of 2019.