Paris and Boston, November 13, 2024 – 12:15 p.m. CET – Mauna Kea Technologies (Euronext Growth: ALMKT), inventor of Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, provides an update on its recent developments amid high volatility of its stock on Euronext Growth.
The company has made significant progress in the area of food intolerances since the UEG Week 2024, receiving a substantial number of expressions of interest from professionals. Since then, it has participated in other conferences, including the DGVS – Deutsche Gesellschaft für Gastroenterologie (German Society for Gastroenterology), where it received similarly enthusiastic feedback. The company has also officially launched its CellTolerance program at a renowned clinic in Paris, where it has trained nutritionists to implement the program. In the United States, the prestigious Stanford University has acquired a Cellvizio dedicated to the CellTolerance program and has begun enrolling patients. These centers aim to enroll a significant number of patients in the coming weeks.
Mauna Kea reaffirms its short-term objective and its commitment to strengthen its financial structure to enable the company to mobilize the necessary resources to consolidate its core activity in gastrointestinal endoscopy and accelerate the commercialization of its innovative CellTolerance program for food intolerances. The size of the targeted markets represents a significant potential lever for value creation. Management is actively working with its financial advisors to explore and implement sustainable solutions that support the company’s long-term growth objectives.
Additionally, based on its current cash position, combined with a rigorous cost reduction program, the company is confident in its ability to meet its operational needs until the first quarter of 2025 (from February to the end of March 2025, depending on the achievement of 2024 budget targets). The company’s management is continuing discussions with strategic partners and potential investors to extend this cash horizon.
With over 24 years of existence, Mauna Kea Technologies has demonstrated its resilience by overcoming similar challenges in the past. The company will continue to provide regular updates on the progress of financial initiatives, any strategic decisions that result, as well as on its commercial activities.
