Fractyl Health — developer of medtech and gene therapies to reverse diabetes and obesity — began trading on the Nasdaq today under the symbol GUTS. Lexington, Massachusetts–based Fractyl Health priced its 7,333,333 shares of common stock at $15 per share, enabling it to bring in about $110 million from the IPO. The company expected the […]
Wall Street Beat
FDA clears new cervical cytology AI tech from Hologic
Hologic announced that the FDA granted clearance for its Genius digital diagnostics system with the Genius cervical AI algorithm. Clearance makes Genius the first and only FDA-cleared digital cytology system combining deep learning-based AI with advanced volumetric imaging technology to help identify pre-cancerous lesions and cervical cancer cells, according to a news release. Hologic’s clearance […]
BD ups guidance but stock dips on mixed Q1 results
BD shares fell this morning on first-quarter results that came in mixed compared to the consensus forecast. Shares of BD dipped 1.2% at $235.92 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose slightly. The Franklin Lakes, New Jersey-based medtech giant posted […]
Stryker leaders expect another strong year in 2024
Stryker saw its Mako ortho surgical robot and new products drive a solid finish for 2023 — with expectations for a robust 2024. The Kalamazoo, Michigan–based orthopedic device giant saw SYK shares shoot up more than 6% to $335.67 apiece in morning trading today on the heels of the Street-beating Q4 results from yesterday evening. […]
FDA approves Farapulse pulsed field ablation tech from Boston Scientific
Boston Scientific announced today that it received FDA approval for its Farapulse pulsed field ablation (PFA) system. Shares of BSX were up more than 2% at $62.79 in morning trading on the back of the news, as the company also posted strong fourth-quarter earnings results. MassDevice‘s MedTech 100 Index was up nearly 1%. The much-anticipated […]
Abbott enters into new $5B credit facility
Abbott announced that it entered into a five-year credit agreement worth up to $5 billion on an unsecured basis. The company entered into the agreement with lenders from time to time party thereto and JPMorgan Chase Bank as administrative agent. According to an SEC filing, the agreement gives Abbott the ability to borrow up to […]
BioSig announces layoffs as part of cost-cutting effort
BioSig Technologies (Nasdaq:BSGM) announced today that it enacted a workforce reduction in an effort to reduce cash burn. Westport, Connecticut-based BioSig did not disclose the number of employees affected by the reduction. As of the company’s last annual report on March 30, 2023, it had 47 full-time employees. Shares of BSGM fell 4.3% to 21¢ […]
Philips discontinues certain CPAP product lines after recall saga, stock sinks on Q4 results
Philips has discontinued the U.S. sales of several respiratory device product lines, including one from its much-maligned CPAP portfolio. The company says it agreed with the FDA and the DOJ on the terms of a consent decree focused on the Respironics business. Philips says it provides “clarity and a roadmap” for compliance and the restoration […]
Globus Medical lays off 157 at former NuVasive headquarters
Globus Medical (NYSE:GMED) is letting go of 157 workers at NuVasive’s former headquarters campus in San Diego, according to a WARN report filed with the state of California. The notice, dated Jan. 3 and shared by the California Employment Development Department with MassDevice, says the campus will stay open. Workers received notice of the layoffs on […]
CVRx stock dips despite Street-beating Q4
CVRx (Nasdaq:CVRX) shares took a hit today despite fourth-quarter results that beat the consensus forecast. Shares of CVRx fell 5.2% at $27.69 apiece in mid-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.2%. The Minneapolis-based neuromodulation technology developer posted losses of $9.2 million. […]
ResMed stock rises on Street-beating Q2
ResMed shares ticked up today on second-quarter results that came in ahead of the consensus forecast. Shares of RMD increased by 6.6% to $183.16 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose by 1%. The San Diego-based sleep respiratory device maker […]