An ex-Hologic (NSDQ:HOLX) accountant is suing the company after allegedly being terminated for reporting on possible illegal accounting practice that included reclassifying accounting numbers to show higher profit margins, according to court documents. The plaintiff and ex-Hologic employee, Karmen Smiley, filed the lawsuit in California’s Superior Court in San Diego County claiming that she became a […]
Hologic
Hologic dips after posting Q1 earnings beat, revises guidance
Hologic (NSDQ:HOLX) saw shares dip slightly yesterday after posting its fiscal year 2016 Q1 earnings, beating the street across all points and adjusting earnings per share guidance up. The Marlborough, Mass.-based company reported profits of $84.9 million, or 29¢ per share, on sales of $695.2 million for the 3 months ended December 26. That amounts to […]
Ex-trader loses bid to dismiss insider trading case
Sean Stewart, a former executive with JP Morgan and Perella Weinberg Partners who is accused of insider trading based on his work on several medical device transactions, lost his bid to have criminal charges dismissed from a federal court in New York. Federal prosecutors in May 2015 charged Stewart, his father Robert Stewart and a 3rd […]
Metamark to sell Hologic’s Progensa prostate cancer test
Metamark Genetics said today it inked a collaborative deal to act as the exclusive worldwide sales agent for Hologic‘s (NSDQ:HOLX) Progensa PCA3 assay, designed to test for prostate cancer. The Progensa PCA3 is the 1st urine-based molecular test of its kind, according to Metamark. The test is designed to quantify cancer-specific overexpression of prostate cancer antigen […]
Hologic picks up DiagnoCure PCA3 prostate marker assets for $4.7m
DiagnoCure said last week it sold its PCA3 prostate cancer biomarker assets to Hologic‘s (NSDQ:HOLX) subsidiary Gen-Probe for $4.7 million (C$6.5 million). The purchase is slated to include $4 million (C$5.5 million) in cash and the repurchase of 4.9 million series A convertible preferred shares of DiagnoCure held by Gen-Probe, valued at $744,229 (C$1 million). “The […]
Hologic posts Q4 beats on rev, EPS, releases FY2016 guidance
Hologic (NSDQ:HOLX) released its 4th quarter earnings Wednesday, topping the street’s expectations on revenue and earnings per share while seeing losses shrink, and released its fiscal year 2016 outlook. Hologic reported profits of $25.2 million, or 9¢ per share, on sales of $702.8 million for the 3 months ended September 30. That amounts to a 10.6% […]
Study: Computer-aided mammograms fail to improve detection, raise costs
Computer-aided breast cancer screening technology designed to boost accuracy have failed to increase detection, according to a new study published yesterday in the journal JAMA Internal Medicine. The technology, from companies like Hologic (NSDQ:HOLX) and iCad (NSDQ:ICAD) failed to improve detection of cancerous tumors, according to the report. “We found no evidence that CAD applied to digital […]
Report: AdvaMed CEO Ubl to leave for top spot at PhHRMA | Personnel Moves
Steve Ubl, the longtime CEO at medical device lobby AdvaMed, is reportedly leaving the organization after 17 years to take the top spot at the pharmaceutical industry’s largest trade group, the Pharmaceutical Research and Manufacturers of America or PhRMA. The Hill, citing an unnamed source, said that Ubl “will more than likely” take over as […]
Reva Medical snags ex-MDT’er Groves for CEO | Personnel Moves
Reva Medical (ASX:RVA) said last week it picked up ex-Medtronic (NYSE:MDT) divisional veep Regina Groves as its new CEO. Groves was vice president and GM of the atrial fibrillation solutions, cardiac rhythm and heart failure division at Medtronic. During her time there, she helped the company strategize a re-entry into the catheter-based atrial fibrillation ablation market, the […]
Hologic raises guidance after Q3 earnings top Street
Hologic (NSDQ:HOLX) announced fiscal 3rd-quarter results today that soundly beat Wall Street’s expectations, and raised its outlook for the rest of the year. Bedford, Mass.-based Hologic reported profits of $29.4 million, or 10¢ per share, on sales of $693 million for the 3 months ended June 27. That’s a bottom-line gain of 160.2% on sales growth of 9.37%, […]
Cook elevates medical prez Yonkin to Cook Group prez | Personnel Moves
Cook said yesterday that Cook Medical president Pete Yonkman will become the new president of Cook Group Inc., as current president Kem Hawkins is slated to retire on July 1. “Under Kem’s leadership, we have seen exciting new opportunities to help patients, our employees, and the communities where we operate. With his guidance, our company […]