The Medical Device Business Journal — Medical Device News & Articles | MassDevice
MASSDEVICE ON CALL — Democrats are showing some gratitude toward Republican presidential hopefuls in a kill-them-with-kindness strategy some are calling a "death hug."
White House hopefuls Mitt Romney, the former governor of Massachusetts, and Indiana’s current chief, Gov. Mitch Daniels, both felt the squeeze this week as liberals invoked their names in praise of progress toward health care reform.
Procter & Gamble Co. (NYSE:PG) subsidiary Gillette Co. amended a licensing agreement with Palomar Medical Technologies Inc. (NSDQ:PMTI) for a home-use laser hair removal device for women after a delayed launch.
Under new terms, each company will provide more funding "to meet the common goal of a successful product launch," according to Palomar.
Palomar Medical Technologies Inc. (NSDQ:PMTI) delayed the launch of its home-use peri-orbital wrinkle treatment laser until the spring of 2011, according to a Securities & Exchange Commission filing.
The Burlington, Mass.-based cosmetic laser developer said the date change is "related to the use of lotion with the laser."
Palomar Medical Technologies Inc. (NSDQ:PMTI) Q2 losses surged some 600 percent as it invested heavily in infrastructure costs.
The cosmetic laser surgery equipment-maker reported $1.7 million in net losses, or 9 cents per diluted share, on $15.6 million in sales during the three months ended June 30. A dramatic increase compared to a net loss of $243,922, at 1 cent per diluted share, on revenue of $15.0 million during the same period last year.
Palomar Medical Technologies Inc. (NSDQ:PMTI) posted a 9.2 percent increase in first-quarter sales, but saw its net losses yawn by 77 percent.
The Burlington, Mass.-based cosmetic device maker posted sales of $16.0 million during the three months ended March 31, compared with $14.6 million during the same period last year.
Net losses were $2.5 million, or 14 cents per diluted share, compared with $1.4 million, or 8 cents per diluted share, during Q1 2009.
Shaser Inc. and CEO Dan Roth emerged from stealth mode for quick, $3 million boost and an interview with Boston.com before closing the curtains again.
The Woburn, Mass.-based company, which makes a light-based hair removal device that’s already on the market in Europe, drummed up $3 million from Stata Venture Partners in an equity sale March 29, according to a regulatory filing.
Palomar Medical Technologies Inc. (NSDQ:PMTI) trod a rocky road last year, closing out 2009 with vastly wider net losses and lower sales.
The Burlington, Mass.-based cosmetic laser device maker reported net losses of $8.5 million, or 47 cents per share, on sales of $16.3 million for the three months ended Dec. 31, 2009. That compared with net losses of just $420,000, or 2 cents per share, on sales of $17.2 million during Q4 2008. Palomar said part of the Q4 2009 losses stemmed from a $5.2 million set-aside for income taxes. Excluding that provision, losses before income taxes were $3.3 million.
The Food & Drug Administration cleared a cosmetic laser device made by Palomar Medical Technologies Inc. (NSDQ:PMTI) for the treatment of stretch marks.
The Burlington, Mass.-based firm said the FDA’s nod toward its Lux1540 device is its first clearance of a device to treat striae, or stretch marks, using a fractional laser.
The device is already cleared for non-ablative skin resurfacing and to treat surgical scars, acne scars and melasma, or facial skin discolored from over-exposure to the sun, according to a press release.
After riding a wave last year that more than doubled the value of its stake in Palomar Medical Technologies Inc. (NSDQ:PMTI), a Baltimore money manager decided it’s time to take some of its chips off the table.
Brown Capital Management, which manages about $2.2 billion in equity holdings for its clients, sold off about 340,000 shares of Palomar stock between Oct. 1, 2009, and the end of the year, according to recent regulatory filings. Brown likely banked at least $1 million in profit from the transactions, and possibly more — a lot more — if it bought in before the stock spiked from around $11 a share to nearly $18 each back in June 2009.
Palomar Medical Technologies Inc. (NSDQ:PMTI) has a wedding present for Candela Corp. (NSDQ:CLZR) and Syneron Inc. (NSDQ:ELOS): Another patent infringement lawsuit.
The Burlington, Mass.-based cosmetic laser device maker said it’s resuming its patent infringement lawsuit against newly united Candela and Syneron, which officially closed their merger on Tuesday.
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