Farmingdale, N.Y.-based Misonix posted profits of $366,000, or 5¢ per share, on sales of $1.7 million for the 12 months ended June 30 – for a 26.7% top-line gain that helped Misonix swing from a $3.5 million loss during its last fiscal year.
For its fiscal 4th quarter, Misonix reported profits of $445,000, or 6¢ per share, on sales of $5.3 million, another swing to black ink and a 40.8% sales increase, compared with the same period last year.
"Our strategic goal has been to transition Misonix to be a focused surgical device company – and we have succeeded in achieving that goal. Going forward we have 3 main goals: Continue to successfully place instruments throughout the surgical community worldwide; substantially grow recurring revenues through the sale of disposables; and continue to expand our worldwide distribution system," president & CEO Michael McManus Jr. said in prepared remarks. "For fiscal the year U.S. sales increased 12% while international sales increased 58% as our expanding distribution channel throughout the world becomes more fully engaged in the sales process."
MSON shares closed up 19.1% at $3.68 on Wall Street today.
EMD Millipore buys stem cell tech
Merck‘s (NYSE:MRK) EMD Millipore subsidiary paid an undisclosed amount for non-exclusive rights to iPS Academia Japan’s induced pluripotent stem cell patent portfolio, developed by Dr. Shinya Yamanaka of Kyoto University’s Center for iPS Cell Research and Application.
SteadyMed, SpinalMotion land $24M
San Francisco-based SteadyMed Therapeutics said it reeled in $10.4 million to develop its PatchPump drug delivery implant; SpinalMotion, which won CE Mark approval in the European Union for 2 of its Kineflex cervical disc implants in March, said it pulled down $13.6 million from 15 unnamed investors.
Biomet adds $825M to debt offering
Biomet said it plans to offer $825 million worth of 6.5% senior notes due 2020 as a follow-on to the $1.0 billion in 6.5% senior notes due 2020 issued on August 8.
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