Silk Road Medical (NSDQ:SILK) increased a stock offering it registered earlier this week to $191.8 million, according to a regulatory filing. The company’s original registration for $159 million was to fund its transcarotid artery revascularization (TCAR) technology for the treatment of stroke. The Sunnyvale, Calif.-based company is now proposing an offering of 4.8 million shares of its […]
TransEnterix shares dive on disappointing Q2 sales
Shares of TransEnterix (NYSE:TRXC) started inching back up this morning following a nearly 33% plunge yesterday fueled by disappointing second-quarter results. The Research Triangle Park, N.C.-based company posted losses of $20.1 million, or -10¢ per share, on sales of $3.64 million for the three months ended June 30, 2019. Adjusted to exclude one-time items, losses […]
Cardinal Health beats The Street on Q2 & FY 2019 earnings, expects $145 million restructuring charge
Cardinal Health (NYSE:CAH) beat Wall Street’s earnings consensus by 10% for the fourth quarter of 2019, despite a disappointing performance by its medical sector. The Dublin, Ohio-based company posted profits of $194 million or $0.65 per share on sales of $37.4 billion for the three months ended June 30, 2019, for a bottom-line gain of […]
Wright Medical stock dives on news of “knife fight” for sales reps, poor Cartiva sales
Shares in Wright Medical (NSDQ:WMGI) plunged 25% this morning on news of a “knife fight” with competitors over sales reps, and a $2 million lag in sales of its Cartiva arthritis treatment device. CEO Robert Palmisano told analysts late yesterday that smaller, privately owned competitors — which share the same independent distributor salesforce— are beating Wright […]
FDA wants more study of paclitaxel-eluting devices’ long-term safety
The FDA said yesterday that it wants more long-term safety and effectiveness studies done on paclitaxel-eluting stents and balloons, and urged physicians to carefully consider when to use them. In a letter to healthcare providers, the agency recommended discussing the risks and benefits of the devices with patients and continue “diligent monitoring” of patients who […]
Second Sight beat The Street in Q2 despite $8.44m loss
Second Sight Medical (NSDQ:EYES) posted second-quarter results yesterday that beat both the sales and earnings forecasts on Wall Street as it accelerated its pivot toward manufacturing a new cortical implant. Citing the costs of reorganization, the Sylmar, Calif.-based company reported a loss of $8.44 million, or -0.07¢ per share, on sales of $1.28 million for […]
Have government scientists solved the artificial hips corrosion problem?
Argonne National Laboratory researchers tested metal alloys that ortho device companies have used in artificial hips for decades. Materials scientists at the U.S. Department of Energy’s Argonne National Laboratory usually test metal alloys for their ability to contain nuclear waste for millions of years. A couple of years ago, two of them decided […]
Silk Road Medical proposes $159m stock offering
Silk Road Medical (NSDQ:SILK) has registered a $159 million stock offering to fund its transcarotid artery revascularization (TCAR) technology for the treatment of stroke, according to a regulatory filing. The Sunnyvale, Calif.-based company is proposing an offering of 4.04 million shares of its common stock at a maximum share price of $39.50 each, including 525,000 […]
FTC clears Boston Sci’s $4B purchase of BTG
The Federal Trade Commission has approved Boston Scientific’s $4 billion acquisition of British medtech company BTG (LON:BTG), according to a regulatory filing. Other antitrust authorities, such as the Federal Competition Authority of Austria and the National Authority for Markets and Competition in Spain, cleared the takeover in the past few weeks, according to the filing. […]
BD beats Wall Street on Q3 earnings, reveals FDA denial of Lutonix PMA for PAD
This article has been updated to include information from the company’s earnings call with analysts. Becton Dickinson & Co. (NYSE:BDX) posted third-quarter results today that beat the consensus earnings forecast on Wall Street and maintained its FY2019 guidance, citing strong year-to-date results and continued momentum. On the downside, CEO Vincent Forlenza told analysts that the […]
Haemonetics beats Wall Street on Q1 EPS, revenue
Haemonetics (NYSE:HAE) posted first-quarter 2020 results today that beat the consensus forecast on Wall Street and boosted its fiscal 2020 EPS guidance. The Braintree, Mass.-based medical device maker reported a loss of -$8.48million, or -$0.17 per share, on sales of $238.5 million for the three months ended June 29, 2019, for a bottom-line loss of […]