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Tag: RMED

  • Ra Medical Systems Inc. (RMED) stock Sinks After Hours on Q4 & Fiscal 2021 Results

    Ra Medical Systems Inc. (RMED) stock Sinks After Hours on Q4 & Fiscal 2021 Results

    On March 23, Ra Medical Systems Inc. (RMED) declared its financial results for the fourth quarter and fiscal year 2021. Consequently, the stock took a hit in the after-hours and plunged down.

    Source: SoFi

    It seems investors were looking forward to the earnings release with positive anticipation. The stock traded in the green during the regular session at an above-average volume of 4.91 million shares. Intraday trading, RMED varied between a high of $0.53 and a low of $0.49. At the close of the session, the stock had a value of $0.51 with a mild gain of 0.02%. Following the results, the stock entered the red with a huge loss of 11.43% in the after-hours. Hence, RMED was trading at a price of $0.45 per share in the after-hours while 1.61 million shares exchanged hands.

    The dermatologic and cardiovascular diseases excimer lasers developer, Ra Medical Systems Inc. was founded in 2002. Currently, the company has a market capitalization of $13.43 million with its 26.33 million outstanding shares.

    RMED’s Q4 2021 Results

    For Q4 2021, the company reported net revenue of $5,000 in product sales while there was no revenue in the year-ago quarter.

    Moreover, RMED had a net operating loss of $8.3 million in Q4 2021 against $10.2 million in the year-ago period. Thus, the net operating loss per share was $1.23 and $3.54 for Q4 2021 and 2020 respectively.

    Fiscal 2021 Results

    From Continuing Operations

    In fiscal 2021, the company generated net revenue of $22,000 in product sales against $0.3 million in the previous year.

    Furthermore, the net operating loss was $27.3 million ($5.39/share) in fiscal 2021 against $35.3 million ($20.79) in fiscal 2020.

    From Discontinued Operations

    The company reported $2.6 million in net revenue from discontinued operations in 2021 against $4.1 million a year ago.

    Additionally, the company had an income of $2.2 million ($0.43/share) in 2021 against a loss of $0.7 million ($0.43/share) in 2020.

    RMED’s 510(k) Filing

    On February 28, RMED filed a 510(k) application with the FDA for its DABRA catheter with a braided over jacket and shelf life of 6 months. The 510(K) was filed for crossing chronic total occlusions in symptomatic infrainguinal lower extremity vascular disease patients with intended use for ablating channels in occlusive peripheral vascular disease.

    Conclusion

    The company’s lasted earnings report failed to impress the investors after its release on Wednesday. Therefore, RMED stock plunged down in the after-hours when the result was declared.

  • Ra Medical Systems Inc. (RMED) stock Falls Under Corrections After Hours

    On February 28, Ra Medical Systems Inc. (RMED) announced to have filed a 510(k) application for its DABRA Catheter with the FDA. Consequently, the stock added 17.02% in the following market session on March 01. The gain called for-profit booking and corrections in the after-hours on Tuesday.

    The news resulted in investors flocking towards the stock on Tuesday as its volume reached 85.47 million. During the regular session, RMED stock was able to add a value of $0.07 or 17.02%. The stock closed the session at a price of $0.50 per share. Subsequently, the stock fell under corrections in the after-hours to lose 4.96%. Hence, the stock was trading at a value of $0.48 per share in the after-hours on Tuesday.

    The dermatologic and cardiovascular diseases excimer lasers developer, Ra Medical Systems Inc. was founded in 2002. The company has a market capitalization of $11.24 million with 26.33 million shares outstanding.

    RMED stock Analysis

    While Tuesday’s regular session gains were enough to call for profit booking, the stock had been in an uptrend for the past few days. Thus, RMED stock was bound to fall under corrections with the extended gains on Tuesday. Therefore, the stock succumbed to corrections in the after-hours as it had added 40.00% in the past five days.

    The uptrend of the stock before the news seemed to have been due to the recent downfall of the stock. With the apparent crash of the stock market due to the Russia-Ukraine conflict, RMED also declined to its new low on February 24. Following this, the stock rebounded as investors started buying the stock due to the low price.

    510(k) Application Filing

    As per Monday’s announcement, RMED submitted the 510(k) for its DABRA catheter with a braided over jacket and six-month shelf life. The application was filed for the catheter as a device for crossing chronic total occlusions in symptomatic infrainguinal lower extremity vascular disease patients. It also includes an intended use for ablating a channel in occlusive peripheral vascular disease.

    Source: RegDesk

    This marks a significant step achievement in the company’s flagship commercial DABRA catheter.

    The company manufactures the DABRA excimer laser and catheters in an ISO 13485 vertically integrated facility.

    RMED’s Financial Summary

    In Q3 2021, the company reported net revenue of $5000 from continuing operations and $0.5 million from discontinued operations.

    Furthermore, RMED had $7.4 million in loss from continued operations and $0.4 million from discontinued operations in the quarter.

  • Ra Medical Systems Inc. (RMED) stock Makes a Comeback After Hours. Any Reason?

    Ra Medical Systems Inc. (RMED) stock Makes a Comeback After Hours. Any Reason?

    On February 17, 2022, shares of Ra Medical Systems Inc. (RMED) made a comeback in the after-hours session. There is no new announcement or SEC filing from the company.

    In the previous trading session, the stock suffered a loss of 6.27% at its closing price of $0.39. The stock declined at an active volume of 4.3 million shares during the session. RMED saw a reversal in the after-hours session as it rebounded to reach $0.46 per share. The stock added a value of 17.95% or $0.07 in the after-hours on Thursday.

    Founded in 2002, Ra Medical Systems Inc. develops excimer lasers for dermatologic and cardiovascular diseases. Currently, its 26.33 million outstanding shares trade at a market capitalization of $6.88 million.

    RMED stock Movement

    On February 15, the company filed an amendment on an SC 13G form with the Securities Exchange Commission. The stock had been bullish since the SEC filing. Although the gains were mild, the stock remained in an uptrend for two days. It seems the stock suffered a loss due to a profit booking event from the recent gains on Thursday. Following this, RMED resumed its bullish momentum but with a much higher pace.

    A further explanation of the recent bullishness could be the Russia-Ukraine conflict. The stock market is generally down due to the ongoing conflict and increased problems between the countries. Even in situations like these, there are always a few penny stocks that remain bullish and hence attract investors. With the downtrend in the market, it seems investors found RMED as a good penny stock to make some profits.

    Latest Patent

    Recently, the company announced receiving its 10th U.S. patent from the United States Patent and Trademark Office on February 08, 2022. The patent was granted to RMED for a support catheter used with a small flexible liquid core catheter for laser ablation of blockages for restoring blood flow.

    The U.S. patent 11,241,519 B2 is titled Small Flexible Liquid Core Catheter for Laser Ablation in Body Lumens and Methods for Use. This patent further strengthens the company’s intellectual property portfolio for the full commercialization of the DABRA excimer laser system.

    RMED’s Financial Overview

    In Q3 2021, the company reported net revenues of $5000 from continuing operations and $0.5 million from discontinued operations.

    Moreover, the loss was $7.4 million from continuing operations and $0.4 million from discontinued operations in the quarter.

     

  • Ra Medical Systems, Inc. (RMED) gained in the Pre-market; here is why?

    Ra Medical Systems, Inc. (RMED) gained in the Pre-market; here is why?

    Ra Medical Systems, Inc. (RMED) gained in the pre-market after announcing its 10th patent. RMED values at $0.42, gaining more than 4% compared to yesterday’s closing price. The stock closed at $0.40 at the end of the last trading session. The stock volume traded in the last trading session was around 2.22 million shares. The current market cap of the company is around $6.66 million.

    Ra Medical Systems, Inc. (RMED) announced its 10th U.S. patent

    It was on February 8, 2022, when a new patent for an arterial plaque blockage laser ablation support catheter was issued to RMED. With its tenth U.S. patent, Ra Medical has created innovative liquid core ablation catheters.

    Laser Ablation in Body Lumens and Methods of Use with a Small Flexible Liquid Core Catheter is described in detail in the article. The DABRA ablation and support catheters have been tested in difficult-to-treat peripheral veins by medical experts at RMED.

    RMED CEO’s remarks on the patent

    Our DABRA liquid core ablation catheters can now be used in difficult anatomies, according to CEO Will McGuire. He also said that we are certain that this patent will speed up the commercialization of the DABRA excimer laser system.

    RMED lost more than 94% in the Trailing Twelve Months

    Ra Medical Systems, Inc. (RMED) lost more than 94% value in twelve months. The company is struggling to make significant revenue. Five years ago, the stock’s value was $455 per share, but it sells for peanuts at $0.42, losing more than 99% value. The revenue in the last reported quarter was a mere $5K.

    Conclusion

    Ra Medical Systems, Inc. (RMED) is not profitable for the past few years and is barely making any money. The new patent might seem like a savior, but the company needs to focus on rolling the treatment.

  • Top 15 Best Performing Medical Device Manufacture Companies Of 2020

    Top 15 Best Performing Medical Device Manufacture Companies Of 2020

    New medical innovations are emerging day by day and are playing a major role in the health care sector. Much of the credit for these new technological innovations go to the medical devices industry. Technological advancement is continuously changing the medical devices industry. The medical devices that provide and analyze data of patients within minutes are aiding the healthcare organizations to improve patients outcomes, lower costs, and enhance efficiency.

    2020 is the year of challenges and opportunities for many industries including the medical devices industry. The medical device industry is growing with fast speed and it doesn’t seem like it is going to be slowing down anytime soon. The growth in the medical devices industry has occurred because of increasing severe disease with the increasing population. These new diseases need new treatments that can reduce the symptoms in patients. The medical devices industry is important to patients for many reasons. Medical devices companies engaged in the innovations of new technologies that are helpful for patients with chronic diseases.

    Here are the top 15 leading players in the medical devices industry you should be holding right now:

    SmileDirectClub Inc. (NASDAQ: SDC)

    SmileDirectClub Inc. (NASDAQ: SDC) last closed at $11.27, in a 52-week range of $3.64 to $21.10. Analysts have a consensus price target of $10.08. SmileDirectClub Inc. (SDC) has partnered with Meredith Corporation (MDP) to introduce Telehealth Explained. Telehealth Explained is the new platform aimed to educate consumers about the many benefits of telehealth for physical, mental, and dental health.  SmileDirectClub Inc.’s market cap has remained high, hitting $4.66 billion at the time of writing.

    CHF Solutions Inc. (CHFS)

    CHF Solutions Inc. (CHFS) stock soar by 5.85% to $0.32. CHF Solutions Inc. (CHFS) has earlier disclosed that it has received 180-extension to meet the Nasdaq minimum bid price requirement. The company has now the time since February 24, 2021, to meet all the requirements.  CHFS has earlier hosted the interactive, physician-led webinar to discuss “Precision Medicine for the Treatment of Fluid Overload in Patients with Acute Heart Failure.” CHF Solutions has a 52-weeks low and high range of $0.28 and a low range of $2.92.

    Abbott Laboratories (NYSE: ABT)

    Abbott Laboratories (NYSE: ABT) stock soar by 2.89% to $105.81. The most recent rating by Goldman, on June 01, 2020, is at a Sell. Abbott Laboratories (ABT) has earlier disclosed that it has initiated the LIFE-BTK clinical trial to evaluate the safety and effectiveness of the company’s new Esprit™ BTK Everolimus-Eluting Resorbable Scaffold System.  ABT has a 52-weeks low and high range of $61.61 and $114.19, respectively. It has a market cap of $189.80 billion at the time of writing.

    Avinger Inc. (NASDAQ: AVGR)

    Avinger Inc. (NASDAQ: AVGR) Shares headed rising, higher as much as 3.70%. The most recent rating by Ladenburg Thalmann, on March 09, 2018, is at a Buy. Avinger Inc. (AVGR) has earlier disclosed that the underwriter of its earlier revealed underwritten public offering has practiced, in full, their option to purchase an additional 1,000,000 shares of the Company’s common stock at a price of $0.47 per share. Avinger Inc.’s market capitalization has remained high, hitting $36.67 million at the time of writing.

    InspireMD Inc. (AMEX: NSPR)

    InspireMD Inc. (AMEX: NSPR) fall -7.23% after losing more than -$0.02 on Wednesday. InspireMD Inc. has disclosed that it has received the FDA approval to proceed with a pivotal study of the CGuard Carotid Stent System, CARENET-III, for prevention of stroke in patients in the United States.  The FDA approval of Investigational Device Exemption (IDE) has been proved to be useful for the company as it is now able to conduct the trial to check the potential of CGuard EPS against carotid artery disease.

    BIOLASE Inc. (NASDAQ: BIOL)

    BIOLASE Inc. (NASDAQ: BIOL) last closed at $0.30, in a 52-week range of $0.21 to $1.16. BIOLASE Inc. (BIOL) has disclosed that Todd Norbe, President and CEO, and John Beaver, COO, and CFO, will be providing an overview of the Company, as well as recent progress and achievements at the Colliers & Co.  Institutional Investor Conference on Thursday, September 10, 2020. BIOLASE Inc. has a market capitalization of $26.66 million at the time of writing.

    Stryker Corporation (NYSE: SYK)

    Stryker Corporation (NYSE: SYK) stock soar by 2.66% to $205.41. The most recent rating by Barclays, on April 13, 2020, is at an Underweight. Stryker Corporation (SYK) has earlier revealed that it will take part in the Morgan Stanley 18th Annual Virtual Global Healthcare Conference on Tuesday, September 15, 2020. This company’s market capitalization has remained high, hitting $77.31 billion at the time of writing.

    Livongo Health Inc. (NASDAQ: LVGO)

    Livongo Health Inc. (NASDAQ: LVGO) last closed at $128.03, in a 52-week range of $15.12 to $150.00. Analysts have a consensus price target of $130.41. Livongo Health Inc. (LVGO) disclosed that executives of Livongo Health and the executives from Teladoc Health will be participating in the following upcoming investor conferences. It had a trading volume of 1.72 million as compared to the average volume of 4.89 million.

    Boston Scientific Corporation (NYSE: BSX)

    Boston Scientific Corporation (NYSE: BSX) shares headed rising, higher as much as 1.49% after Boston Scientific Launches Vercise Genus™ DBS System In Europe. The most recent rating by SVB Leerink, on April 22, 2020, is at an Mkt perform. Boston Scientific Corporation (BSX) has a 52-weeks low and high range of $24.10 and $46.62, respectively. It has a market cap of $59.43 billion at the time of writing.

    Medtronic plc (NYSE: MDT)

    Medtronic plc (NYSE: MDT) rose 1.99% after gaining more than $2.08 on Wednesday. Medtronic Receives Breakthrough Device Designation from FDA, Begins Early Feasibility Study for Investigational Intrepid™ Transcatheter Valve System for the Treatment of Tricuspid Valve Regurgitation. Medtronic plc (MDT) has traded up 47.87% from its 52-weeks low and traded down -12.68% from its 52-weeks high.

    Ra Medical Systems Inc. (RMED)

    Ra Medical Systems Inc. (RMED) last closed at $0.25, in a 52-week range of $0.26 to $2.69. Ra Medical Systems to Present at H.C. Wainwright 22nd Annual Global Investment Conference on September 16. Ra Medical Systems Inc. (RMED) has traded down -2.46% from its 52-weeks low and traded down 90.57% from its 52-weeks high.

    Hancock Jaffe Laboratories Inc. (NASDAQ: HJLI)

    Hancock Jaffe Laboratories Inc. (NASDAQ: HJLI) shares were trading up 12.80% at $0.41 at the time of writing on Wednesday. Hancock Jaffe Laboratories Inc. (NASDAQ: HJLI) share price went from a low point around $0.21 to briefly over $1.03 in the past 52 weeks, though shares have since pulled back to $0.41. HJLI market cap has remained high, hitting $16.12M at the time of writing.

    Nano-X Imaging Ltd. (NASDAQ: NNOX)

    Nano-X Imaging Ltd. (NASDAQ: NNOX) shares headed rising, higher as much as 7.76% after Nanox Signs Agreement With SPI Medical for the Deployment of 630 Nanox. Its stock has fluctuated between the 52-weeks low of $20.25 and a 52-weeks high range of $43.48. NNOX has moved up 117.33% and 1.24% from its 52-weeks low and high, respectively. Its market capitalization has remained high, hitting $2.08 billion.

    Edwards Lifesciences Corporation (NYSE: EW)

    Edwards Lifesciences Corporation (NYSE: EW) rose 3.26% after gaining more than $2.68 on Wednesday. Edwards Lifesciences Corporation (EW) stock has fluctuated between the 52-weeks low of $51.51 and a 52-weeks high range of $87.79. EW has moved up 64.72% from its 52-weeks low and moved down -3.36% from its 52-weeks high, respectively. Its market capitalization has remained high, hitting $54.00 billion.

    Wright Medical Group N.V. (NASDAQ: WMGI)

    Wright Medical Group N.V. (NASDAQ: WMGI) stock drop by -0.26% to $30.30. The most recent rating by Jefferies, on December 24, 2019, is at a Hold. Wright Medical Group N.V. (WMGI) has a 52-weeks low and high range of $19.04 and $30.66, respectively. It has a market capitalization of $2.92 billion.