Oncosil Medical (OSL) H2 2024 earnings summary

Executive summary

• Achieved significant commercialisation milestones for its brachytherapy device, treating its 200th patient and expanding into Austria, Türkiye, Greece, and Saudi Arabia.

• Secured new distribution agreements and expanded reimbursement opportunities, notably in Germany and the Middle East.

• Advanced key clinical trials (TRIPP-FFX, PANCOSIL) and published data supporting device efficacy.

• Raised $9.82 million in equity during 2024, strengthening the balance sheet and supporting ongoing operations.

Financial highlights

• FY24 revenue from device sales was $516,632, up from $367,677 in FY23.

• Recognised $1,048,751 in R&D tax incentive income.

• Net loss after tax was $11,913,632 (FY23: $11,342,926).

• Cash balance at 30 June 2024 was $4,501,398 (FY23: $9,393,832).

• Employee benefits expense decreased to $4,074,253 (FY23: $4,711,692).

Outlook and guidance

• Focus remains on expanding market access in the EU, UK, and Middle East, and progressing regulatory approvals in new markets.

• Ongoing pivotal clinical studies to support US market entry; HDE submission pending with FDA.

• Board confident in forming a sustainable business structure and improving long-term financial performance.