NMT Medical Inc. (PINK:NMTI) will sell its portfolio of intellectual property portfolio at auction in June as it attempts to repay its creditors after declaring bankruptcy.
Wall Street Beat
Paulson & Co. Inc., once Boston Scientific Corp.’s (NYSE:BSX) largest shareholder, continued to liquidate its position in BSX during the first quarter, selling off some 10 million shares from its stake in the Natick, Mass.-based medical device company.
BioMimetic Therapeutics (NSDQ:BMTI) clawed back a chunk of the share value it lost earlier this week after the FDA released a dim review of BMTI’s Augment bone graft product, as an advisory panel for the federal watchdog agency recommended approving the treatment.
BMTI shares were up about 8 percent in pre-market trading today, to $9.91, after plunging more than 35 percent from a May 9 close of $13.39.
Shares of BioMimetic Therapeutics (NSDQ:BMTI) continued their slide today after plunging 35.3 percent yesterday on news of the FDA’s dim view of its Augment bone graft product.
Medtronic (NYSE:MDT) is likely charging $3,000 more for the Revo SureScan MR Conditional pacemaker than previous pacemakers, according to an analyst who attended the Heart Rhythm Society meeting in San Francisco this week.
If that’s true, it might not be so good for the Fridley, Minn.-based medical device monolith. Physicians at the conference believe Medtronic may be erring in pricing the device so high, even though it leads the market in this device category, wrote Morgan Stanley analyst David Lewis in a note to investors Monday.
Officials at Smith & Nephew (NYSE:SNN) weren’t acting brides left at the altar, but they weren’t exactly tossing bouquets to the hot new couple in the orthopedic market during a conference call with investors today.
Shares of NxStage Medical Inc. (NSDQ:NXTM) dove nearly 14 percent yesterday despite record first-quarter sales growth and news of regulatory approvals on the international market.
Less than two hours after the opening bell, NXTM shares had fallen nearly 13 percent and recovered only slightly before closing at $20.43.
Medical device firms fetched $602 million in venture funding during the first quarter of 2011, up 8 percent from the same period last year and good for the best first quarter the industry has had in three years, according to a new Money Tree report.
The Money Tree report, conducted by PricewaterhouseCoopers using data provided by Thomson Reuters, said investors closed 79 investments in medical device companies at all stages during the quarter, up 11 percent from the 71 deals done during the same period last year.
“Although we just did a pretty significant deal, it doesn’t preclude us from doing another one,,” CFO Dominic Caruso told an investor’s conference in Boston. “We want to be able to act.”