Insulet (NSDQ:PODD) reported yesterday that the insulin delivery device-maker topped sales expectations on Wall Street for its fourth quarter and full-year financial results, but missed earnings estimates. The Billerica, Mass.-based company reeled in losses, posting -$6.9 million on sales of $130.5 million for the 3 months ended Dec. 31, for sales growth of 26% compared with […]
Wall Street Beat
Novocure misses Q4 EPS by a penny, tops sales estimates
Shares in Novocure (NSDQ:NVCR) rose slightly today in premarket activity after the medical device maker met sales expectations, but missed earnings estimates on Wall Street with its fourth quarter and full-year financial results. The St. Helier, N.J.-based company reeled in losses this quarter, posting -$10.9 million on sales of $53.7 million for the 3 months ended Dec. […]
Tax cuts push Teleflex into the red as Q4 revenues miss
Teleflex (NYSE:TFX) put red ink into the ledger during the fourth quarter, thanks to a $108 million hit from the tax reforms enacted last year, and missed the consensus expectation for the top line. Wayne, Pa.-based Teleflex reported losses of -$42.7 million, or -91¢ per share, on sales of $595.1 million for the three months ended […]
B. Braun’s Aesculap closes $17m Dextera Surgical bankruptcy buyout
Surgical instrument maker Dextera Surgical and B. Braun subsidiary Aesculap said yesterday that they closed the $17.3 million deal to buy Dextera out of Chapter 11 bankruptcy. Redwood City, Calif.- based Dextera, formerly known as Cardica, agreed to the buyout in December 2017. The consummation Feb. 20 saw Dextera receive $13.6 million; another $2 million went into two-year escrow, $900,000 went to repay […]
Globus Medical posts Q4, 2017 earnings that beat The Street
Globus Medical (NYSE:GMED) today posted fourth quarter and full year 2017 earnings that beat the Street on both sales and earnings per share. The Audubon, Penn.-based company posted profits of $24.4 million, or 25¢ per share, on sales of $176 million for the 3 months ended December 31, for bottom-line growth of 0.3% while sales grew […]
Express Scripts to include Novo Nordisk’s once-weekly diabetes drug on 2018 formulary
Express Scripts, one of the nation’s largest pharmacy benefit managers, reportedly plans to include Novo Nordisk‘s (NYSE:NVO) once-weekly Type II diabetes, Ozempic, on its 2018 formulary. The move puts Ozempic directly in competition with Eli Lilly‘s (NYSE:LLY) once-weekly Trulicity drug. Both products will also go up against AstraZeneca‘s (NYSE:AZN) once-weekly Bydureon medication. Get the full story at our […]
Teleflex’s NeoTract wins expanded FDA indication for UroLift prostate device
Teleflex (NYSE:TFX) subsidiary NeoTract said yesterday that it won expanded indications from the FDA for its UroLift prostate treatment. Previously approved for treating benign prostate hyperplasia in men 50 and over without an obstructive median lobe, the new indications open the treatment to patients 45 or older with an obstructive median lobe. UroLift uses tiny devices inserted into the urethra […]
Cardiva Medical adds $11m for vascular closure devices
Cardiva Medical said yesterday that it added another $11 million to a funding round it closed last year at $30 million to continue the commercialization of its Vascade vascular closure device. Existing debt and equity investors participated, including PTV Healthcare Capital, Canepa Healthcare and affiliates of Luther King Capital Mgmt., the Santa Clara, Calif.-based company said. […]
Pieris Pharmaceuticals closes $51m public offering
Pieris Pharmaceuticals (NSDQ:PIRS) has closed an underwritten public offering of 6,325,000 shares of its common stock. The Boston, Mass.-based company said it reeled in $50.6 million from the offering, which it plans to use to fund the pre-clinical and clinical development of its pipeline. Get the full story at our sister site, Drug Delivery Business News.
Avinger closes $18m Series B round
Avinger (NSDQ:AVGR) said late last week it closed a Series B round of convertible preferred stock, raising a total of $18 million prior to discounts and expenses. In conjunction with the round closing, the Redwood City, Calif.-based company said that lenders under its term loan agreement converted $38 million of debt into the company’s Series A convertible […]
Medtronic expands insulin pump portfolio with MiniMed Mio infusion set
Medtronic (NYSE:MDT) has launched its MiniMed Mio Advance infusion sets, which are designed for people managing their diabetes with insulin pump therapy. The medtech titan touted its product, which was developed by ConvaTec, as boasting a user-friendly design that allows patients to access hard-to-reach sites, like the lower back. The infusion system has no visible needle […]