Investor Update May 2018

09-May-2018

Message From The CEO

Welcome to the May 2018 investor update. The last quarter has seen good progress towards achieving several important milestones that are key to Sienna's growth strategy.

Researchers from Johns Hopkins presented the positive results of their study into Sienna's hTERT test. The study was presented in March at the world's leading pathology conference, the United States and Canadian Academy of Pathology (USCAP) 2018 Annual Meeting. StatLab representatives, Sienna's US-based Commercial Manager and myself attended the meeting and were able to further engage with pathologists that were interested in our test.

That study is the basis of a peer-reviewed journal article that has been accepted by leading cytopathology journal, Acta Cytologica, for publication in its next issue. A number of potential customers who are evaluating hTERT have indicated that the publication of this article will provide them with additional confidence to adopt the test for routine clinical use. The publication of these results is an important milestone for Sienna, providing further validation of the clinical utility of hTERT.

Continue reading the CEO's message >

Johns Hopkins Present Positive Study Results for Sienna’s hTERT Test

Johns Hopkins University School of Medicine presented the results of its study into Sienna's in-vitro diagnostic (IVD) hTERT test at the United States and Canadian Academy of Pathology (USCAP) 2018 Annual Meeting in March. The results demonstrated an increase in sensitivity when using the hTERT test in conjunction with urine cytology as compared to cytology alone.

The sensitivity of standard urine cytology alone was 29.2%, whereas cytology combined with hTERT increased the sensitivity to 50.8%. As a result, the study concluded that hTERT as an adjunct to urine cytology could help to identify patients with increased likelihood of High Grade Urothelial Carcinoma (HGUC), who may otherwise be missed by standard screening alone. In addition, negative hTERT staining was shown to be associated with a decreased risk of HGUC compared to cytology alone.

The USCAP Annual Meeting is a premier event for pathologists drawing over 5,000 attendees from almost 90 countries. This year's conference was held in Vancouver, Canada from March 17-23, 2018. Read More & View Video >

To view the study presented at the conference, click here.

Appendix 4C - Quarterly Cash Flow Report

In April, Sienna released its Appendix 4C - Quarterly Cash Flow Report for the quarter ended 31 March 2018. The company ended the quarter with a cash balance of $2.9 million. Product orders were received in each month of the quarter. An inter-bank communication problem prevented the receipt of funds from our US distributor's (StatLab) January order during the quarter. The issue was resolved, and the funds were received in early April. Following the lodgement of the Appendix 4C, Sienna submitted its 2017 R&D Tax Incentive application and expects to receive the R&D tax refund in the quarter ending 30 June 2018. Read More >

Sienna Cancer Diagnostics Appoints Helen Fisher to Board

In late March, Sienna announced the appointment of Helen Fisher to the Board as an independent non-executive director and chair of the audit and risk committee. Previously a partner at Deloitte for 10 years, Ms. Fisher led the Australian Life Sciences Industry Team in providing advice to biotechnology and life science companies. Ms. Fisher is founder and CEO of Bio Capital Impact Fund - investing in disruptive, high-growth companies.

Sienna intends to draw on Helen's extensive global network of industry contacts to assist in the development of the geographic expansion program, partnerships, and M&A opportunities. Read More >

First IVD Product Sale in Switzerland

Sienna announced the first sale of the company's hTERT test in Switzerland through its distribution partner, Biosystems Switzerland AG. Following the signing of Biosystems Switzerland as the exclusive distributor for Switzerland of Sienna's novel IVD test, the first order by a Swiss laboratory has been delivered. This follows the training of Biosystems key personnel by Sienna in late 2017, and evaluation and clinical validation by the customer. Read More >

StatLab Confident in Growth Trajectory of Sienna's hTERT Test in USA

In February, Sienna released a video from the CEO of StatLab Medical Products, Dan Eckert. StatLab is the exclusive US distributor of Sienna's innovative in-vitro diagnostic (IVD) hTERT test. In the video, Mr Eckert discusses the market opportunity in the US, and how Sienna's test feeds into StatLab's own growth strategy. The video also canvasses the approach taken by StatLab's sales staff, including the addition of the company's very first advanced diagnostic sales specialist to develop larger opportunities at industry conferences. Read More & View Video >

Sienna in The News - Recent Media Articles

Sienna has appeared in several recent media articles including such publications as HR Monthly, Australian Financial Review, Biotech Daily, and Proactive Investor.

To view the list of media articles in which Sienna has appeared, Click Here >

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Investor Update May 2018

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