Business
Trading Update & Related Party Transaction
Trading Update & Related Party Transaction.
About this update from Trellus Health Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n Trellus Health plc\n \n \n \n (\"Trellus Health\" or the \"Company\")\n \n \n \n \n \n \n Trading Update & Related Party Transaction\n \n \n \n \n \n \n \n LONDON, U.K. AND NEW YORK, U.S. (20 December\n \n \n 2022).\n \n Trellus Health plc (AIM: TRLS), which is commercializing a scientifically validated, personalized resilience-driven self-management solution for chronic health conditions at their intersection with mental health, provides an update on trading expectations for the current financial year and additional disclosures under AIM Rule 13.\n \n \n \n \n In respect of the financial year ending 31 December 2022, the Company expects to report that it will have generated modest revenue and an EBITDA loss in line with expectations. As at 31 December 2022 the Company's net cash position is expected to total no less than $18 million, slightly better than expected and reflecting the Company's close control of cash. As previously announced in the Company's interim results announcement, and assuming only the level of revenue at that time is maintained, the Company's cash runway is expected to extend into 2025.\n \n \n \n \n \n The Company expects to provide a more detailed trading update by early February 2023.\n \n \n \n \n \n As previously announced, the Company signed two contracts with\n the\n Mount Sinai Health System (\"Mount Sinai\") to provide certain patients with access to the\n Trellus Resilience Training and Self-Management Program for Inflammatory Bowel Disease (the \"Trellus IBD program\") (the \"Contracts\").\n \n The first contract will see Mount Sinai make the Trellus IBD program available to, and paid for, as a wellness benefit, to all Mount Sinai Health System employees, focusing initially on Inflammatory Bowel Disease (\"IBD\"),including Crohn's Disease and ulcerative colitis.Mount Sinai has a robust employee wellness program which is offered free of charge to all faculty and staff. The second contract is to make the Trellus IBD program available, again as a wellness benefit, to eligible patients who are members of a large NY state labor union, which provides health services and benefits to its members through Mount Sinai. \n \n Whilst there is no minimum revenue guarantee under the Contracts, the Trellus IBD program is be...