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Tag: Acutus Medical

  • Acutus Medical, Inc. (AFIB) Faces Plummeting Stock Price Amid Delisting Concerns

    Acutus Medical, Inc. (NASDAQ: AFIB) found itself in a downward spiral on Friday, with its stock price taking a significant hit during regular trading hours. Starting the day at $0.1540, AFIB closed at $0.1447, marking a nearly 6% decline.

    However, the real turmoil struck after the closing bell, as AFIB nosedived by almost 40% in afterhours trading, hitting a new low of $0.0900.

    Panic among Shareholders

    Investors were left scratching their heads as there was no immediate news to justify this steep decline. However, speculations loomed large, with social media buzzing about a potential delisting looming over the company. This added to the distress as AFIB’s market capitalization plummeted below $4 million, raising concerns among stakeholders.

    The roots of this debacle trace back to May 1, 2023, when Acutus Medical received a notice from Nasdaq indicating non-compliance with the Bid Price Requirement. Despite efforts to rectify the situation, including an application to transfer securities to The Nasdaq Capital Market, the company struggled to meet the criteria. With a steadfast decision not to pursue compliance, AFIB now faces the imminent prospect of delisting from Nasdaq, set to begin trading in over-the-counter markets by April 29, 2024.

    Breaking Down AFIB’s Delisting Debacle

    The journey to regain compliance proved to be an uphill battle for Acutus Medical. Initially granted 180 days to rectify the bid price deficiency, the company’s attempts to transition to The Nasdaq Capital Market failed to yield sustainable results. Despite eligibility for an extended compliance period, AFIB remained unable to meet the minimum bid price requirement.

    The impending delisting casts a shadow over Acutus Medical’s future prospects, leaving investors wary of the uncertainties ahead. With Nasdaq’s looming notice of potential delisting, AFIB finds itself at a crossroads, navigating through turbulent waters in the stock market landscape.

    Conclusion

    As Acutus Medical braces for the transition to over-the-counter trading, the company’s stakeholders await further developments with bated breath. While the future remains uncertain, AFIB’s resilience in the face of adversity will undoubtedly be put to the test, as it charts a new course in market.

  • What Caused The AFIB Stock To Rise Premarket?

    As of the last check, Acutus Medical Inc. (AFIB) shares were up 1.53% to $15.28 in premarket trading. Acutus stock fell -2.78 percent to close last session at $15.05. During the past 50 days, AFIB stock has traded 0.56 million shares, a volume which is higher than its trading volume of 0.22 million shares traded on the day. Currently, AFIB has a market capitalization of $415.98 million and 28.03 million outstanding shares. After its common shares offering, AFIB stock is gaining ground.

    What has AFIB offering?

    Acutus is a company that defines and treats cardiac arrhythmias so they can be diagnosed and treated more effectively. AFIB is committed to making electrophysiology a more efficient and effective field of treatment for more patients with the help of a unique array of products and technologies.

    By developing its own products, making acquisitions, and partnering with global companies, AFIB has established itself as a global player. With its broad range of highly differentiated electrophysiology products, AFIB offers its customers a complete solution to combat cardiac arrhythmias by catheter.

    Acutus announced that it is offering 5,500,000 shares of its common stock at a price of $14 per share in an underwritten public offering.

    • AFIB is offering all of the shares of its common stock.
    • AFIF expects the gross proceeds from the offering to be $77.0 million, before taking into account underwriting discounts and commissions and other offering expenses.
    • As long as the closing conditions are satisfied, AFIB anticipates closing the offering on July 19, 2021.
    • Underwriters can also buy up to an additional 825,000 AFIB shares for a price to the public by AFIB, less underwriting discounts and commissions, for a period of 30 days from the date of the public offering.
    • AFIB’s offering is solely managed by The Goldman Sachs.

    Also this week, Accutus announced preliminary non-audited results for the second quarter of 2021.

    Key Highlights:

    • Compared to $3.6 million in Q1 2021 and $1.1 million in Q2 2020, preliminary quarter-to-quarter net sales in Q2 2021 are expected to be roughly between $4.6 and $4.7 million.
    • According to AFIB, there will be 68 second-generation AcQMap consoles installed worldwide by June 30, 2021, compared to 57 as of March 31, 2021.
    • In June 2021, 70 of AFIB’s AcQMap consoles were installed, bringing the total installed base to 75.
    • AFIB’s direct businesses experienced over 40% sequential growth over the first quarter of 2021, a trend it was pleased with during the second quarter.

    An overview of AFIB’s other efforts:

    Acutus Medical (AFIB) has received US Investigational Device Exemption in order to institute clinical trials of the AcQBlate Force-Sensing Ablation Catheter and System in paroxysmal and persistent atrial fibrillation. Likewise, AFIB will be in person at Heart Rhythm Society’s annual meeting in Boston, from July 28 to July 31, for a symposium devoted to Rhythm Theater, which will be held in conjunction with the company’s first meeting.

  • Did Anything Hurt Acutus (AFIB) Stock In Extended Trades?

    As of last check in afterhours trading, Acutus Medical Inc. (AFIB) was down -9.31% at $15.39. The Acutus stock price was almost stable on Friday, falling -0.12% to close the day at $16.97. AFIB stock volume was 43030.0, which is lower than the average volume over the past three months of 218.56K. The price of the AFIB stock fluctuated from $16.67 to $17.17 during this period.

    AFIB reported earnings per share of -4.98 during the regular session. AFIB shares have lost -3.91% in the last five sessions, gained 6.26% over the past month, but lost -41.10% for the year. With a 50-day moving average of $15.13, AFIB stock is below its 200-day moving average of $21.84. Additionally, the AFIB stock’s RSI is currently 56.38.

    When there has been no news about AFIB, it may be reasonable to expect recent developments to provide additional information.

    AFIB, what has been happening recently?

    Acutus manages cardiac arrhythmias and aims to improve the way these disorders are diagnosed and treated. Providing physicians with a superior range of products and technologies, the AFIB is dedicated to advancing the field of electrophysiology. AFIB has built an international sales network through internal product development, acquisitions, and global partnerships. AFIB’s products provide cardiac arrhythmia patients with a comprehensive solution for catheter-based treatment.

    AcQBlate Force Sensing Ablation Catheter and System have recently been approved by the FDA for use in the company’s Atrial Fibrillation (AF) Investigational Device Exemption (IDE) clinical trial, Acutus announced recently.

    • AFIB focused on this trial as in the United States, there are approximately 190,000 ablation procedures annually.
    • By 20251 that number is projected to reach 375,000.
    • AFIB plans to enroll 350 patients at leading centers globally in a trial designed to evaluate the system’s effectiveness and safety in the treatment of persistent and paroxysmal atrial fibrillation.
    • AcQBlate Force gold-tipped catheter and system by AFIB are designed specifically to provide consistent therapeutic solutions during cardiac ablation procedures.
    • AFIB’s system enables physicians to view current contact force, in real-time, while performing ablations on the heart.
    • Real-time contact force information has been shown to help physicians deliver safe and effective therapy to patients, thus improving their outcomes.

    Achievements and strategies:

    As of late 2020, Acutus (AFIB)’s advanced system has received a CE Mark, enabling it to become commercially available in Europe. AFIB’s Pulsed Field Ablation (PFA) program plans to use the AcQBlate Force Catheter and System in addition to US IDE and European commercial activities. Once participating sites gain necessary institutional review board (IRB) approvals, AFIB expects enrollment for its AcQBlate Force AF trial to commence in the second half of 2021.