Electromed (NSDQ:ELMD) shares ticked down today on third-quarter results that came out on top of the consensus revenue forecast. The New Prague, Minn.-based airway clearance therapy technology developer posted profits of $653,274, or 7¢ per share, on sales of $8.7 million for the three months ended March 31, 202o, for an 85.1% bottom-line gain on sales […]
Respiratory
Startup CorVent Medical raises $4.5m for single-use ventilator
CorVent Medical today announced the closing of a $4.5 million seed financing round to support the commercialization of a single-use, critical care ventilator. The financing round is led by European life sciences venture capital firm Sofinnova Partners with participation from Redmile Group, Exor Seeds, Genesis Medtech Group, The Deerfield Foundation, The Pagliuca Family Office and […]
NN’s Paragon Medical launches intubation shield
NN Inc. (NSDQ:NNBR) announced that its Paragon Medical division launched an intubation shield for healthcare workers amid the COVID-19 pandemic. The intubation shield provides a barrier between the healthcare professional and the patient during the intubation and extubation processes, reducing exposure to aerosolized airborne contaminants. Paragon collaborated with Solvay Specialty Polymers in Alpharetta, Ga., to produce […]
FDA yanks 60 Chinese companies’ respirators from emergency use list
The FDA has removed respirators made by 60 companies in China from its emergency use authorization (EUA) list for COVID-19 over concerns that they may be “sub-standard.” The list, which had totaled 74 manufacturers when issued April 24, still includes 15 models of N95 respirators made in China by 3M (NYSE:MMM), plus a number of models […]
Vapotherm prices public offering
VapoTherm (NYSE:VAPO) announced today that it priced an underwritten public offering of nearly 3.4 million shares of its common stock. According to a news release, the 3.35 million total shares of the Exeter, N.H.-based respiratory distress treatment developer will be sold at price of $26 per share. In addition, underwriters were granted 30-day option to purchase […]
3M wins federal contracts to further expand U.S. respirator production
3M (NYSE:MMM) announced today that it received two more U.S. Department of Defense contracts to further expand its domestic production of N95 respirator masks. Since January, the Maplewood, Minn.-based company has doubled its global output of respirators to 1.1 billion per year, with 35 million N95 masks produced per month in the U.S. According to a […]
3M, Ford to begin shipping respirators to COVID-19 first responders
3M (NYSE:MMM) and Ford Motor Company announced today that they have begun shipping 10,000 of the jointly developed powered air-purifying respirators (PAPRs) to healthcare workers fighting COVID-19. Production began April 13 at Ford’s Vreeland facility near Flat Rock, Mich., after 40 days of development, according to 3M. 3M said it will sell and distribute the PAPRs […]
Inspire Medical up on Q1 mixed bag
Inspire Medical Systems (NYSE:INSP) shares ticked up today on mixed first-quarter results compared to the consensus forecast. The Minneapolis-based company posted losses of -$16.2 million, or -67¢ per share, on sales of $21.3 million for the three months ended March 31, 2020, nearly doubling last year’s losses of -$8.3 million despite sales growth of 31.4%. Adjusted […]
Inogen plummets after Q1 losses
Inogen (NSDQ:INGN) shares took a big hit today on first-quarter results that beat the consensus forecast despite significant losses. The in-home respiratory product developer saw its shares fall -17.5% at $43.63 per share in mid-morning trading. The Goleta, Calif.-based company posted losses of -$1.6 million, or -7¢ per share, on sales of $83.1 million for the […]
Avanos up on Street-beating Q1
Avanos Medical (NYSE:AVNS) shares ticked up today on first-quarter results that topped the consensus forecast. The Alpharetta, Ga.-based company posted profits of $3.7 million, or 8¢ per share, on sales of $180.4 million for the three months ended March 31, 2020, recording profits after a $20.3 million loss this time last year on sales growth of […]
Pulmonx raises $66m to commercialize minimally-invasive emphysema treatment
Pulmonx announced today that it raised $66 million in a financing round led by global life science investor Ally Bridge Group. The Redwood City, Calif.-based company also received contributions from new investors Adage Capital Management, HealthQuest Capital, Partner Fund Management and Rock Springs Capital, along with existing investors. Pulmonx secured an additional $17 million in […]