NASDAQ has warned Hancock Jaffe Laboratories (NSDQ:HJLI) that it is in danger of being delisted, but the company said in an SEC filing today that it intends to return to compliance. The warning, issued last week, said Hancock Jaffe did not have the minimum of $2.5 million in stockholders’ equity to merit its listing on the […]
5 companies on the front lines of the coronavirus fight
Nancy Crotti, Managing Editor and Danielle Kirsh, Senior Editor Amid the stock market roller-coaster ride that began last month, medtech companies that make devices and diagnostic tests vital to fighting COVID-19 may ultimately fare better than others, but it’s hard to tell until the virus peaks and people get back to work. At midafternoon today, […]
Moody’s lowers outlook for U.S. medtech industry due to coronavirus
Moody’s Investors Service has lowered its outlook for the U.S. medical device industry due to lower sales it expects from the coronavirus outbreak. The Wall Street ratings service said yesterday that it has revised its EBITDA forecast for the next 12 to 18 months to 2% to 4% from 5% to 6%, but added that […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Baxter stock moves up on delayed Q4 results
Baxter (NYSE:BAX) shares ticked up today on fourth-quarter results that topped the consensus forecast after delayed reporting because of an internal probe. Shares of BAX were up 10.4% at $78.98 in early-afternoon trading today. The Deerfield, Ill.–based company posted losses of -$19 million, or -5¢ per share, on sales of $3.04 billion for the three months […]
Hologic, LabCorp gain FDA emergency testing nods
The FDA has granted emergency use authorization for COVID-19-related diagnostic tests to Hologic (NSDQ:HOLX) and Laboratory Corporation of America (NYSE:LH). Hologic described its new Panther Fusion SARS-CoV-2 assay as a molecular diagnostic test that detects SARS-CoV-2, the virus that causes COVID-19. The automated Panther high-throughput system is widely used across the U.S., can provide results […]
DeviceTalks Weekly: How is coronavirus affecting medtech?
Welcome to the DeviceTalks Weekly podcast, a regular – and sometimes irregular – opportunity to visit with the editorial team at MassDevice and Medical Design & Outsourcing. This week, Chris Newmarker, executive editor, life sciences, at WTWH Media, reviews our COVID-19 coverage with Tom Salemi, editorial director, DeviceTalks. Tom also chats with Jeffries analyst Raj […]
Myomo drops on Q4 losses
Myomo (NYSE:MYO) shares took a hit today on fourth-quarter results that missed the consensus forecast for earnings but topped the revenue projections. The Cambridge, Mass.-based commercial-stage medical robotics company yesterday evening posted losses of $2.8 million, or -$4.81 per share, on sales of $1.5 million for the three months ended Dec. 31, 2019, for a 2.6% […]
Ocular Therapeutix dips on big losses, missed projections
Ocular Therapeutix (NSDQ:OCUL) shares were marginally down today on fourth-quarter results that came up short the consensus forecast after massive losses. The Bedford, Mass.-based ophthalmic insert maker posted losses of $26 million, or -53¢ per share, on sales of $2.3 million for the three months ended Dec. 31, 2019, for a 49.5% bottom-line slide despite nearly […]
U.K. court bars Edwards TMVR sales, gives Abbott win in patent spat
A judge in the England issued an injunction yesterday barring Edwards Lifesciences from selling its Pascal transcatheter mitral valve repair (TMVR) device in the U.K. A different judge had previously denied Abbott’s petition for such an injunction. Yesterday, Judge Colin Birss of the High Court of England and Wales also ruled that two patents held […]
Cardinal Health settles China bribery case for $8.8 million
Cardinal Health (NYSE:CAH) has agreed to pay more than $8.8 million to settle charges that a former subsidiary in China failed to detect bribes paid to government hospital officials and employees of state-owned retailers to buy skincare products. The settlement springs from a Securities and Exchange Commission investigation into Cardinal China, which Cardinal Health formed in […]
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