Restoration Robotics (NSDQ:HAIR) said it has received CE Mark approval for the sale of the Artas iX system designed forf hair restoration. The CE Mark approval follows the company’s receipt of ISO 13485:2016 certification for Artas iX in January 2019.
The Artas iX robotic hair restoration system has a three-camera stereoscopic vision system with 44-micron resolution and a seven-axis robot. It has a compact, motorized, battery-powered, portable and adjustable procedure chair for increased patient comfort and clinical versatility that can be used ergonomically in multiple aesthetic procedures.
“We are very pleased to announce our receipt of CE mark approval, which further expands our addressable market for Artas iX,” said Ryan Rhodes, Restoration Robotics’ president & CEO, in a news release. “With this approval, Artas users in Europe will have the ability to leverage our new platform, which includes novel implantation functionality, optimizes clinical outcomes, and further improves hair restoration process workflow. In these geographies, we will continue to sell through our international sales team and our distributor partners, as we maintain our focus on expanding our commercial presence globally.”
Restoration Robotics also reported second-quarter 2019 results that missed the consensus forecast on Wall Street. The San Jose, California-based company reported a net loss of $7.9 million or -$0.19 per share, on sales of $2.9 million for the three months ended June 30, 2019.
Adjusted to exclude one-time items, earnings per share were -$0.19, -4¢ behind The Street, where analysts were looking for sales of $6.97 million.
The company also said it expects its merger with Venus Concept should close in September or early October, subject to stockholder and regulatory approvals.