Mojo Vision announced today that it raised more than $51 million in a Series B investment round as it develops its Mojo Lens smart contact lens. The round, led by New Enterprise Associates (NEA), also had participation from Gradient Ventures, Khosla Ventures, Liberty Global Ventures, Struck Capital, Dolby Family Ventures, Motorola Solutions Venture Capital, Fusion […]
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Dexcom shares up on Street-beating Q1 results
Dexcom (NSDQ:DXCM) posted first-quarter results today that beat the consensus forecast on Wall Street but dropped its financial guidance for the year. The San Diego-based continuous glucose monitoring systems company reported profits of $19.9 million, or 21¢ per share, on sales of $405.1 million for the three months ended March 31 on sales growth of 44.4% […]
AdvaMed wants more COVID-19-related tariff relief
MedTech trade group AdvaMed today urged the U.S. Office of the Trade Representative to reduce more tariffs for medical devices, components and supplies coming from China and needed in the fight against the coronavirus pandemic. In early March, U.S. trade officials exempted more than 100 such medical items manufactured in China from import tariffs in […]
Invivo Therapeutics raises $3m
InVivo Therapeutics (NSDQ:NVIV) filed an SEC Form D to confirm the sale of more than $3 million in options, warrants and/or other rights to acquire other securities. The Cambridge, Mass.-based spinal cord injury treatment developer sold its entire offering amount of $3,022,576. It included a private placement of warrants to purchase more than 1.7 million shares […]
Senate Dems propose federalizing medical supply chain
Senate Democrats today introduced a bill that would put control of the nation’s medical supply chain in the hands of the federal government, using its expertise in military production and distribution to address the COVID-19 pandemic. The Medical Supply Delivery and Transparency Act would require the secretary of defense to appoint a civilian with experience […]
GE drops on missed Q1 earnings
General Electric (NYSE:GE) shares slid down today on mixed first-quarter results compared to the consensus forecast; the company’s healthcare segment saw rising revenue and profits. The Boston-based company posted profits of $6.2 billion, or 72¢ per share, on sales of $20.5 billion for the three months ended March 31, 2020, for a 71% bottom-line gain on […]
TE Connectivity shares rise on Q2 medical sales
Shares of TE Connectivity (NYSE:TEL) were up 5.91% late-morning today, a day after the company reported its healthcare sales were up 5.7% to $10 million for the second quarter of its 2020 fiscal year. Schaffhausen, Switzerland-based TE Connectivity reported a net loss of -$456 million on net sales of $3.195 billion for the quarter ended March 27, […]
Accuray beats The Street in Q3 results
Accuray posted third-quarter results that beat the consensus forecast on Wall Street but lowered its financial guidance for 2020. The Sunnyvale, Calif.-based company reported profits of $2.6 million, or 3¢ per share, on sales of $99.5 million for the three months ended March 31, for a bottom-line loss of -93.5% sales loss of -3.6% compared […]
Masimo up on Street-beating 1Q
Masimo (NSDQ:MASI) shares inched up today on first-quarter results that topped the consensus forecast. The Irvine, Calif.-based company posted profits of $64 million, or $1.12 per share, on sales of $269.6 million for the three months ended March 28, 2020, for a 30.7% bottom-line gain on sales growth of 16.4%. Adjusted to exclude one-time items, earnings […]
Boston Scientific rises despite Q1 bottom-line slide
Boston Scientific (NYSE:BSX) shares ticked up today on mixed first-quarter results compared to the consensus forecast. The Marlborough, Mass.-based company posted profits of $11 million, or 1¢ per share, on sales of $2.54 billion for the three months ended March 31, 2020, for a 97.4% bottom-line slide on sales growth of 2%. Adjusted to exclude one-time […]
SEC charges company & CEO in COVID-19 mask scam
The SEC announced today that it is charging Praxsyn Corp. and its CEO Frank Brady for allegedly issuing false and misleading press releases regarding its ability to acquire and supply N95 respirator masks during the COVID-19 pandemic. According to an SEC news release, West Palm Beach, Fla.-based Praxsyn issued a Feb. 27 news release announcing […]