The uncertain times brought on by the COVID-19 pandemic have affected businesses worldwide, and several sectors of medtech industry are projecting hits to their bottom lines. A number of companies have announced decisions to withdraw financial guidance, cut hours and/or staff, among other major business decisions. Initial impacts of the global pandemic on Wall Street […]
Penumbra appoints new chief financial and accounting officers
Penumbra (NYSE:PEN) recently announced that it appointed Maggie Yuen as chief financial officer and Lambert Shiu as chief accounting officer, effective Dec. 2. Yuen replaces president and chief financial officer Sri Kosaraju. Kosaraju will continue to serve as president following the appointment. Prior to joining Penumbra, Yuen held a number of leadership roles in the manufacturing, […]
Penumbra launches trial for Indigo blood clot aspiration device
Penumbra (NYSE:PEN) said today that it enrolled the first patient into its Cheetah study of the Indigo aspiration device. The Alameda, Calif.-based company said the Cheetah trial is slated to enroll up to 400 patients with coronary thrombus who are referred for percutaneous coronary intervention. The study’s primary endpoint is a composition of cardiovascular death, recurrent […]
Dynatronics promotes COO Baker to replace von Jako as CEO | Personnel Moves, August 30, 2019
After deciding this week that its CEO needs to be based in Eagan, Minn., and with chief executive Chris von Jako unwilling to relocate his family, Dynatronics (NSDQ:DYNT) promoted COO Brian Baker to the corner office, effective August 28. “After thoughtful consideration, the board of directors determined that the company’s CEO needs to be based in […]
Penumbra tops estimates with Q1 results, guides to high end of sales forecast
Penumbra (NYSE:PEN) yesterday posted first-quarter results that topped the consensus forecast on Wall Street and guided toward the high end of its full-year sales outlook. The Alameda, Calif.-based neurovascular device maker reported profits of $10.7 million, or 30¢ per share, on sales of $128.4 million for the three months ended March 31, growing the bottom […]
Penumbra VR device wins FDA clearance
Penumbra recently announced that it has received FDA 510(k) clearance for its Real Immersive virtual reality system. The Real Immersive System is an immersive virtual reality and display system that tracks upper extremity rehabilitation exercises for adults who have symptoms related to acute pain, cerebral palsy, stroke, orthopedic or neurodegenerative diseases. The exercise routines with the […]
Penumbra revenue up but earnings down in Q4
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 […]
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