Penumbra (NYSE:PEN) saw its revenue jump more than 25% year-over-year in the fourth quarter, but earnings were down for the Alameda, Calif.–based maker of devices to treat neuro and peripheral vascular conditions. Alameda, Calif.-based Penumbra’s stock is down about $15.57 per share, or 10.6%, to $131.25 as of midday trading. The company reported yesterday evening […]
Penumbra acquires 90% interest in MVI Health JV, launches thrombectomy devices
Penumbra (NYSE:PEN) said today it acquired 40% of the outstanding shares of virtual reality joint venture MVI Health from collaborator Sixense, boosting its interest to 90%, and said it launched the Penumbra Jet 7 and Jet D reperfusion catheters. The joint venture intends to commercialize healthcare applications of virtual reality technology, Alameda, Calif.-based Penumbra said, though […]
Penumbra shares rise on Q1 beat, growing sales
Shares in Penumbra (NYSE:PEN) rose today after the medical device maker topped expectations on Wall Street with its first quarter 2018 earnings results. The Alameda, Calif.-based company posted profits of $5.5 million, or 15¢ per share, on sales of $102.7 million for the three months ended March 31, seeing a swing from the red on the […]
Penumbra shares rise on Q4, FY2017 earnings beat
Shares in Penumbra (NYSE:PEN) rose today after the medical device maker met expectations on Wall Street with its fourth quarter and fiscal year 2017 earnings results. The Alameda, Calif.-based company posted profits of $9.1 million, or 25¢ per share, on sales of $96 million for the 3 months ended December 31, seeing a massive swing from […]
Penumbra touts non-inferiority in Compass aspiration thrombectomy trial
Penumbra (NYSE:PEN) late last month released results from the Compass trial of its aspiration thrombectomy system designed to treat acute ischemic stroke, touting that the system was shown to be non-inferior to stent retrievers. Results from the trial were presented at the International Stroke Conference, the Alameda, Calif.-based company said. Investigators in the trial aimed to […]
Penumbra touts real-world study results in Penumbra System acute ischemic stroke trial
Penumbra (NYSE:PEN) today released results from the Promise real-world safety and efficacy study of its Penumbra System with ACE 68 and 64 reperfusion catheters as a treatment for patients with acute ischemic stroke, touting high rates of revascularization and low rates of all-cause mortality. Results were presented at the International Stroke Conference this week in Los Angeles. […]
Penumbra, Sixense launch VR JV MVI Health
Penumbra (NYSE:PEN) said today it inked a deal with Sixense Enterprises to launch the new virtual reality healthcare joint venture MVI Health. The new JV will be headquartered in Alameda, Cali., and will be headed by Penumbra CEO Adam Elsesser. Penumbra will support the company with investments while Sixense will suport it through licensing, intellectual property and […]
Penumbra’s Q3 results top estimates
Penumbra (NYSE:PEN) yesterday reported third-quarter results that topped the consensus forecast on Wall Street and raised its sales outlook for the rest of the year, despite a nearly 100% profit slide. The Alameda, Calif.-based medical device company posted profits of $238,000, or 1¢ per share, on sales of $83.9 million for the three months ended […]
FDA recalls Penumbra 3D Revascularization device over wire separation issues
The FDA today released a recall notice for Penumbra‘s (NYSE:PEN) 3D Revascularization Device, part of its Penumbra system designed to remove thrombus from brain blood vessels during strokes, over issues with wire breaks and separations. The FDA labeled the recall as Class I, its most serious designation, indicating that there is a reasonable probability that use […]
Penumbra picks up Italian distributor Crossmed for $9m
Penumbra (NYSE:PEN) said today it paid $9.4 million (EU €8.2 million) for all outstanding shares of Italian Crossmed S.p.a., which operated as the company’s exclusive distributor in Italy, San Marino and the Vatican. Alameda, Calif.-based Penumbra said that with the acquisition, Crossmed is now a wholly-owned subsidiary of the company. Penumbra added that there are no […]
Penumbra prices $99m offering
Penumbra (NYSE:PEN) said today that it priced a public offering worth nearly $99 million, not including an underwriter’s option worth nearly $15 million. Alameda, Calif.-based Penumbra makes a line of instruments designed for neurovascular and peripheral vascular procedures, including stroke revascularization, embolization and thrombectomy. The company said it plans to float 1.3 million shares at $76 […]
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