Frequent questions

Questions from shareholders

Why don’t you focus more on building up a sales organization?

Chordate Medical focuses on building the company’s value in order to make an exit at a suitable time. The three most important keys to succeed are 1) completing the two important studies, 2) showing success in a few selected markets, and 3) our solid patent portfolio.

To produce evidence of market success, we are working with our distributors in a few countries, and their sales organizations. We can manage this without investing in our own sales force.

When can you expect an exit to take place?

An exit may happen when we have delivered items 1-3 above, or when external buyers indicate a good price offer to our shareholders.

Who normally buys similar cases?

Chordate Medical naturally does not want to exclude any potential buyers, but it would be logical to think of an industrial buyer that has a wide reach and is established in the neuromodulation segment.

How are medtech companies evaluated?

When it comes to the company’s share price, it is obviously up to the market to decide. But usually when it comes to company sales, the valuation in takeover offers is based on how the buying company views its own cash flow opportunities. Not infrequently, a life science company has only achieved limited sales growth when it is sold, which cannot be said to represent a true value of the asset’s potential.

What is needed for a successful exit?

That we develop scientific evidence from solid clinical studies, and continue to establish solid market proof, a so-called Proof of Concept. These – in combination with the approximately 50 patents we have – are the three factors that build Chordate Medical’s value.

How has Covid-19 affected your business?

Like everyone else, we have been affected by the pandemic, especially since the ongoing scientific studies have been delayed somewhat. For obvious reasons, healthcare facilities have been given other priorities during the pandemic. We estimate that the migraine study will be intitiate the treatment of the last patients during the third quarter of 2021.

Questions from patients

Is the treatment painful?

No. The patient may feel some discomfort during the start of the first treatment, but there is no pain that does not pass relatively quickly. Most people get used to it immediately, and the second treatment is usually void of any problems.

Does it really work?

Yes, it works. The treatment for chronic nasal congestion has a well-documented effect. More than half of those treated see their problems go away for many months. When it comes to migraines, we are awaiting the results of the ongoing study which is expected to start the treatment of the last patients during the third quarter of 2021. The indications we received from the interim analysis conducted during the first half of 2019 are very positive.

Why does the state medical system not yet pay for the cost?

Patients currently have to pay for this treatment themselves in Sweden. Each region continuously assesses which treatments are included in the general health insurance. They do a thorough evaluation and it takes time to put such processes in place.

For questions about Chordate’s share price or other investment-related topics, please see if the answer is here.

For questions about the medical effects of Ozilia® Migraine, please see if the answer is here.

To get in touch with Chordate regarding other questions, use the adjecent form. We do our best to respond as quickly as possible.

Please note that the MAR rules (Market Abuse Regulation) prohibits us from providing information to individual inquirers regarding matters of the company’s share, share price, economy and financials, commercial and scientific activities, and other information that potentially can alter the Market valuation of the traded share. We refer in general to the public information published by the company for such questions. Hence, emails with such questions will not be responded to individually.

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