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 […]
Medical device companies continue to scale back sales projections amid coronavirus
Add ConMed (NSDQ:CNMD) to the list of medical device companies scaling back performance projections amid the coronavirus pandemic. The Utica, N.Y.–based minimally invasive surgical device and equipment maker said yesterday that it now expects Q1 2020 revenue growth in the 2–4% range, versus the company’s previous 5–6% guidance. The company also expects a favorable tax […]
LivaNova lands CE Mark for depression neurostimulation treatment
LivaNova (NSDQ:LIVN) said today that its vagus nerve stimulation therapy for treatment-resistant depression has won the CE Mark in Europe. Two patients in the United Kingdom were implanted with the company’s Symmetry system at the Musgrove Park Hospital in Taunton, England, making them the first patients to receive Symmetry devices outside the United States. The ability […]
Medical device company stocks aren’t immune from coronavirus
Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
InVivo Therapeutics prices $7m offering
InVivo Therapeutics (NSDQ:NVIV) announced last week that it priced a public offering of common stock shares and warrants totaling approximately $7 million. The offering is set to include more than 2.5 million shares of common stock or pre-funded warrants to purchase common stock, along with standard warrants to purchase up to more than 2.5 million shares […]
Alphatec posts wider-than-forecast losses in Q4 results
Alphatec (NSDQ:ATEC) this week posted fourth-quarter results that beat the revenue consensus forecast on Wall Street but missed on earnings. The Carlsbad, Calif.-based company reported losses of $17 million, or -28¢ per share, on sales of $32.4 million for the three months ended Dec. 31, 2019, for a bottom-line sales loss of -71.4% compared with Q4 […]
NYSE accepts Ra Medical’s compliance plan
Ra Medical Systems (NYSE:RMED) announced today that the New York Stock Exchange (NYSE) accepted its business plan to regain compliance with the NYSE continued listing standards. In December 2019, Carlsbad, Calif.-based Ra Medical Systems received a letter from the NYSE to notify the company of its non-compliance with the NYSE continued listing standards, as Ra Medical’s […]
