Visioneering Technologies Releases Positive Update On Clinical Research

Visioneering Technologies Releases Positive Update On Clinical Research

Not so long ago, Visioneering Technologies Limited (ASX: VTI) had come forward and made an announcement that they presented an update with regards to clinical data of 141 children which are wearing NaturalVue Multifocal and followed for up to four years. This was presented at GSLS (or Global Speciality Lens Symposium). The issued release had stated that Pediatric Myopia which is also known as nearsightedness in the children, has witnessed a significant rise globally over the last four decades and it happens to be big health issue related to the eyes.

The press release which was issued by Visioneering Technologies Limited, which make NaturalVue® (etafilcon A) Multifocal 1 Day Contact Lenses, are of the view that its product protects from worsening of Myopia as well as it undertakes activities which focuses on the marketing of the lenses internationally.

Also, the company had issued the investor presentation in which the company had given information about the addressable of Presbyopia. As per the investor presentation, the addressable market happens to be of significant size and, with regards to the United States alone, the company had stated that addressable market has been estimated at US$3.4 billion per annum. Moreover, the company had stated that there are additional addressable markets which are of significant size like Europe, Asia, Canada, Australia as well as Americas.

With regards to Paediatric Myopia progression, Visioneering Technologies Limited had stated that addressable market, with respect to the United States alone, has been estimated to be US$2.0 billion per annum. The company had estimated the China’s market has the potential of US$11 billion and they also added that there are significant markets in the SE Asia, Korea, Japan as well as Hong Kong. As depicted by the company’s investor presentation, Visioneering Technologies Limited’s net revenues stood at $3.3 million in FY 2018 which is more than triple of FY17’s sales figure. The company had also given the information about the estimated for FY 2019. The company is expected to post net revenues amounting to $7 million in FY 2019 while there are expectations that it would post a gross profit of around 40% in FY 2019.

The company ended FY 2018 with US$7.3 million of cash and the company, in its investor presentation, had also stated that it had gained regulatory clearances with respect to its products and now these products can be sold in New Zealand, Europe as well as Australia.

We would now have a look at how Visioneering Technologies Limited’s stock has been performing today and how it has performed in the past few months. On January 30, 2019, at the time of writing, the company’s stock is trading in red and the stock price is A$0.160 per share which implies the fall of A$0.005 per share or 3.03%. The market capitalization of Visioneering Technologies Limited stood at ~$41.02 million. The company’s stock is trading towards the lower level. In the time period of the previous one month, the company’s stock has posted the return of 6.45%. As per Australian Securities Exchange or ASX, Visioneering Technologies Limited has an earnings per share or EPS of -$0.091.


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