Intuitive Surgical (NSDQ:ISRG) and some of its shareholders agreed to stay a lawsuit filed against the medical device company over allegedly misleading statements made during the height of the economic downturn in 2008 and 2009.
Wall Street investors are taking another bite out of Intuitive Surgical (NSDQ:ISRG) today, sending its share price down nearly 8% on a study showing that prostate surgery is un-necessary for many men.
ISRG shares dropped fast on Wall Street yesterday afternoon, fueled by the study and soft prostatectomy procedure volumes.
MASSDEVICE ON CALL —Appearing in the New England Journal of Medicine, the study concluded that aggressive surgical treatment, the standard approach for prostate cancer treatment in the U.S., may only be necessary for patients with high-risk diseases.
Removal of the gland barely increased the likelihood for survival in patients with low-risk tumors, researchers found, and surgical removal of the prostate "may be neither necessary nor effective" in many cases.
Despite 26% growth in sales and 32% growth in profits, ISRG shares lost 5.7% by the end of the company’s conference call, trading after-hours at $513.40 as of about 5:25 p.m.
Privately held Morphormics, founded by faculty of the University of North Carolina at Chapel Hill, develops software that recognizes and extracts anatomical structures from medical images.
MASSDEVICE ON CALL — Medical device giant and frequent research hacking target Medtronic (NYSE:MDT) joined software expert Jay Radcliffe at a panel discussion in Washington D.C. to discuss security devices.
Radcliffe made headlines last year when he hacked his own insulin pump live on stage at a software security conference in Las Vegas in efforts to highlight vulnerabilities in technologies that patients rely on.
MASSDEVICE ON CALL — Primary care docs surveyed by Johns Hopkins University researchers say they’re unlikely to curtail their use of a test to detect prostate cancer, despite recommendations from the U.S. Preventive Services Task Force.
The USPSTF stirred up a controversy last year when it suggested that routine prostate-specific antigen tests for healthy men might do more harm than good.
Robot-assisted prostate surgery may be a profit-sink for hospitals, according to a new study set to be published in the July issue of the journal Urology.
The numbers are stark. According to the United States Preventive Services Task Force, for every man whose death from prostate cancer is prevented through PSA screening, 40 become impotent or suffer incontinence problems, two have heart attacks and one a blood clot.
Then there’s the psychological harm of a “false positive” test result, which is 80 percent of all “positive” tests. They lead to unnecessary worry, follow-up biopsies, physical discomfort and even harm. Final grade: D.
MASSDEVICE ON CALL — A nationwide urologists lobbying group largely discredited guidance from a U.S. Preventative Services Task Force recommending that physicians set aside a commonly used prostate cancer screening tool.
Known as the prostate-specific antigen test, or PSA, the tool may pose more risks than benefits, according to the panel.