Shares in SteadyMed (NSDQ:STDY) fell today after the pharmaceutical company beat sales expectations on Wall Street with its second quarter results, but missed EPS estimates. The San Ramon, Calif.-based company posted a net loss of -$8.1 million on sales of $319,000 for the 3 months ended June 30, for bottom-line loss of -14% on sales growth of […]
Wall Street Beat
Trump declares national emergency over opioid epidemic
President Trump said yesterday that he is preparing to declare the opioid epidemic a national emergency. This is a reversal from an announcement made earlier this week by Health and Human Services Secretary Tom Price, who said that they would not declare a state of emergency. “The opioid crisis is an emergency, and I’m saying […]
Cytori Therapeutics posts mixed Q2
Shares in Cytori Therapeutics (NSDQ:CYTX) fell today after the biotech missed sales expectations on Wall Street with its second quarter results, but topped EPS estimates. The San Diego, Calif.-based company posted a net loss of -$6 million on sales of $1.5 million for the 3 months ended June 30, for bottom-line growth of 6% on sales loss […]
Viveve inks distro deal with InControl Medical, posts Q2 miss
Shares in Viveve (NSDQ:VIVE) have stayed steady today after the company announced a new exclusive distribution deal with InControl Medical and released 2nd quarter earnings that missed expectations on Wall Street. Under the agreement, Englewood, Colo.-based Viveve said it will be granted exclusive rights to distribute all of InControl Medical’s products to healthcare providers in the […]
EnteroMedics prices $20m preferred stock offering
EnteroMedics (NSDQ:ETRM) today priced an upcoming underwritten public offering looking to raise $20 million to support continued commercialization and product development. In the offering, the company will offer units at $1,000 per unit, with each consisting of 1 share of Series B convertible preferred stock, convertible into 435 shares of common stock at $2.30 per share, and […]
IntelGenx misses Q2 sales, earnings estimates
Drug delivery company IntelGenx (CVE:IGX) missed expectations on Wall Street yesterday with its second quarter results. The Quebec-based company posted a net loss of -$550,000 on sales of $1.1 million for the 3 months ended June 30, paring its losses by 32% on sales growth of 64% compared with the same period last year. Get the full […]
Conservative groups jump on medical device tax repeal bandwagon
A coalition of conservative action groups yesterday jumped on the bandwagon for repealing the medical device tax, urging Congressional leaders to scrap the 2.3% levy on U.S. medtech sales. In a letter to House speaker Rep. Paul Ryan (R-Wis.) and Senate majority leader Sen. Mitch McConnell (R-Ky.), the group also advocated for repealing a tax […]
Deaths prompt renewed FDA warning on intragastric balloons
UPDATED August 15, 2017, with comment from ReShape Medical. The FDA yesterday updated its warning of the risks associated with fluid-filled intragastric balloons after receiving new reports of the deaths of patients implanted with the devices. Intragastric balloons, made by Apollo Endosurgery (NSDQ:APEN) and ReShape Medical, are used to treat obesity. Placed in the stomach orally in a minimally […]
AdvaMed goes social with anti-medtech tax ad
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 […]
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 […]