Anteris Technologies Reports $21.9 Million Net Loss and Decreased Revenue in Q1 2025

Anteris Technologies Global Corp. reported a net loss of $21.9 million for the first quarter of 2025, a 36% increase from the $16.2 million loss recorded in the same period of the previous year. The company's revenue for the quarter was $556,766, reflecting a 27% decrease compared to $766,000 in the first quarter of 2024. This decline in revenue was primarily attributed to lower demand for tissue products. The cost of products sold also decreased significantly by 56% to $207,000, down from $473,000, which was largely due to the reduced sales volume and a shift in the product mix.

Research and development (R&D) expenses rose by 42% to $16.5 million, up from $11.6 million in the prior year. This increase was driven by investments in scaling manufacturing capabilities and preparatory activities for the pivotal trial of the DurAVR® THV system, which is aimed at treating aortic stenosis. Selling, general, and administrative expenses decreased by 13% to $5.7 million, down from $6.5 million, mainly due to reduced costs associated with the company's plans to re-domicile and list on Nasdaq, offset by increased legal and compliance costs.

Operationally, Anteris has been focusing on the development of its DurAVR® THV system, which is a single-piece heart valve designed to address unmet medical needs in cardiac care. As of March 31, 2025, over 100 patients have been treated with this system across the United States, Canada, and Europe. The company is also in the process of expanding its manufacturing capacity to support the upcoming PARADIGM Trial, which is critical for obtaining regulatory approvals and commercializing the product.

The company’s cash and cash equivalents stood at $49.0 million as of March 31, 2025, down from $70.5 million at the end of 2024. Anteris anticipates needing additional capital to fund ongoing operations and R&D efforts, as it does not expect to generate significant revenue until after obtaining regulatory approvals for its products. The company has indicated that it may pursue various funding options, including equity offerings and debt financing, to meet its financial needs.

Looking ahead, Anteris Technologies remains focused on advancing its clinical trials and obtaining necessary regulatory approvals for its products. However, the company acknowledges the substantial risks associated with its ability to continue as a going concern, given its history of operating losses and the need for additional capital to sustain its operations. The management has expressed confidence in its ability to raise funds but recognizes the uncertainties involved in the process.