The Advanced Medical Technology Assn. is unleashing the latest ad in a social media campaign aimed at winning more legislative support for a repeal of the medical device tax, hoping to sway Congress members during the August recess. The apparent demise last month of Republican plans to repeal Obamacare and replace it with their own […]
Wall Street Beat
Titan Pharmaceuticals misses estimates in Q2
Shares in Titan Pharmaceuticals (NSDQ:TTNP) fell yesterday after the pharmaceutical company missed expectations on Wall Street with its second quarter results. The San Francisco, Calif.-based company posted a net loss of -$3.5 million on sales of $77,000 for the 3 months ended June 30. In the same period last year, Titan posted profits of $11.9 million on […]
InVivo pulls trigger on $2m warrant exchange
InVivo Therapeutics (NSDQ:NVIV) said today it exchanged outstanding warrants, issued as part of a financing in 2014, for 2 million new shares of common stock. The exchange is worth approximately $2.4 million, given InVivo’s current share price of $1.20 as of 10:44 a.m. EDT. InVivo said it negotiated individual exchange agreements with warrant holders, and that […]
BioDelivery Sciences beats Q2 rev estimates, misses on EPS
Shares in BioDelivery Sciences International (NSDQ:BDSI) fell today after the pharmaceutical company beat sales estimates but missed earnings expectations on Wall Street with its second quarter results. The Raleigh, N.C.-based company posted a net loss of -$14.9 million on sales of $8.7 million for the 3 months ended June 30, paring losses by 9.7% on sales growth […]
Canadian court OKs Stryker’s $700m Novadaq buy
A court in Canada approved the pending, $700 million acquisition of Novadaq Technologies (TSE:NVDQ) by Stryker (NYSE:SYK). Mississauga, Ontario-based Novadaq, which makes a line of fluorescence imaging technology, said the Ontario Superior Court of Justice issued a final order approving the deal. Canadian and U.S. anti-trust regulators must still grant their approvals before the deal can be consummated, expected during […]
Analyst: Johnson & Johnson tables cardiology M&A – for now
Johnson & Johnson (NYSE:JNJ) yesterday signaled that it’s unlikely to pull the trigger on any merger & acquisition deals to bolster its cardiology business, according to a Leerink Partners analyst. Worldwide chairwoman Sandi Peterson told Leerink’s Danielle Antalffy that the company has faith in its ability to “compete effectively” in cardiology with just two key […]
Titan Medical shares dip on Q2 earnings release
Shares in surgical robotic platform developer Titan Medical (TSX:TMD) fell today after the company released its 2nd quarter earnings results, despite posting lowered research & development costs and more cash on hand. The Toronto-based company said it spent $2.7 million on R&D, down from $7.7 million in the same period the previous year. Net and comprehensive […]
Corindus Vascular Robotics shares dip despite Q2 beat
Shares in Corindus Vascular Robotics (NYSE:CVRS) have fallen today despite the surgical robotics developer posting 2nd quarter earnings which topped Wall Street expectations. The Waltham, Mass.-based company posted losses of $8.4 million, or 4¢ per share, on sales of $2.3 million for the 3 months ended June 30, seeing losses grow 10.8% while sales grew a […]
Inovio tops Q2 sales estimate by $4m
Shares in Inovio Pharmaceuticals (NSDQ:INO) rose today after the pharmaceutical company beat expectations on Wall Street with its second quarter results. The Plymouth Meeting, Penn.-based company posted a net loss of -$9.5 million on sales of $20.4 million for the 3 months ended June 30, for bottom-line growth of 49% compared with the same period last year. Get the full […]
Ocular’s new CEO to ‘aggressively’ seek partnerships
Since the start of June, Ocular Therapeutix‘s (NSDQ:OCUL) stock price has fallen more than -45%. The company’s founder and chief executive, Amar Swahney, has stepped down, assuming the role of executive chairman, and the FDA has rejected Ocular’s resubmitted new drug application for its hydrogel plug, Dextenza. Amidst regulatory troubles, Ocular tapped former Mundipharma exec Antony Mattessich to serve […]
Stratasys shares steady on Q2 beat
Shares in Stratasys have fallen slightly today after the 3D printing and additive manufacturing company met expectations on Wall Street with its 2nd quarter earnings results. The Eden Prairie, Minn.-based company posted losses of $6.2 million, or 11¢ per share, on sales of $170 million for the 3 months ended June 30, seeing losses shrink […]