Stereotaxis won Japan’s highest reimbursement classification for its Niobe magnetic navigation system.
The Niobe system is now classified as a C2 medical device by Japan’s Ministry of Health, Labor & Welfare, according to a press release.
The technical fee for use of the device will be ¥343,700, or roughly $3,500, until the MHLW’s biennial review, slated for April 1, 2014.
The news had a positive effect on Stereotaxis stock prices, which jumped 47.1% to $5.25per share as of about 2:45 p.m. today.
Stereotaxis also released its preliminary 3rd-quarter revenues, showing a decline compared to Q3 2012.
The St. Louis-based medical device company said it expects to post sales in the range of $10.6 million to $11.1 million, down 8.6% to 4.3% compared with the same period last year, according to a regulatory filing.