Perseon Medical (NSDQ:PRSN) said yesterday that it closed the sale of its assets this week and reverted to its former name, BSD Medical, as part of the deal. The $4.35 million sale, which closed August 22, was part of the Chapter 11 bankruptcy proceedings for Perseon, which makes the MicroThermX microwave ablation system for treating soft tissue tumors. The device can […]
BSD Medical Corp.
Salt Lake City-based BSD said the increase was largely due to increased sales of its MicroThermX microwave ablation device for soft tissue, according to a press release.
The clinical trial, which has been approved by the German Cancer Society, will enroll 59 patients to evaluate the feasibility and the efficacy of adding hyperthermia to a multimodal treatment regimen, the company said.
The Salt Lake City-based medical device company reported losses of $8.0 million, or 27¢ per share, on sales of $2.1 million during the 12 months ended August 31.
The news sent BSDM shares down 5.9% to $1.93 apiece as of about noon today.
Angel investors started to come out of their shells during the first half of the year with angel investments up more than 3% compared with H1 2011, according to research out of the University of New Hampshire, and medical device companies took the lion’s share of the backing.
The medical device and equipment sector grabbed 24% of total angel investment during the first six months of the year, according to a study from UNH’s Center for Venture Research.
Earlier this week a company director, Frederick Moll, picked up another 5,000 shares at $24.15 each, representing the 1st insider buy on the open market since late last year.
Third-quarter losses mounted for orthopedic device giant Biomet Inc. as its top line enjoyed only modest growth.
Warsaw, Ind.-based Biomet posted losses of $16.5 million, on sales of $708.9 million, during the 3 months ended Feb. 29, 2012, compared with losses of $11.6 million, on sales of $678 million, during the same period last year.
Adjusted for 1-time expenses, the company’s net income for Q3 came to $55.1 million, compared to adjusted profits of $212.8 million during Q3 2011.