Blood glucose monitor maker Intuity Medical has raised approximately $26.3 million in a new round of mixed financing, according to a recently posted SEC filing. Fremont, Calif.-based Intuity Medical is developing the Pogo all-in-one automatic blood glucose monitoring system. The Pogo platform incorporates test strips, lancets and a lancing device into a compact meter and cartridge […]
Business/Financial News
Ocular Therapeutix touts Medicare reimbursement win
Ocular Therapeutix (NSDQ:OCUL) said today that the Centers for Medicare and Medicaid Services approved a transitional pass-through payment status and established a new reimbursement C-code for its Dextenza device. The Bedford, Mass.-based company’s Dextenza device is designed to deliver drugs for up to 30 days following treatment in a physician’s office. Ocular Therapeutix is positioning its […]
DarioHealth prices $7m public offering
DarioHealth today priced an underwritten public offering of 4.8 million shares of common stock at 60¢ per share with additional pre-funded warrants. Pre-funded warrants offer 7.2 million shares of common stock at 59¢ each for gross proceeds of roughly $7.2 million. The pre-funded warrants have an exercise price of 0.01¢ and are exercisable until full […]
Mercia Technologies invests £2M in Medherent
Mercia Technologies has invested £2 million into Medherant, a company developing transdermal delivery products for pain and CNS diseases. The additional funding is part of a nearly £2.4 million syndicated investment round. Medherant is a spin out of the University of Warwick and received its first investment from Mercia in 2015. Since the initial funding, […]
Valeritas board approves 1-for-20 reverse split
Valeritas (NSDQ:VLRX) said today that its board of directors approved a 1-for-20 reverse split of its common stock. Through the move, the Bridgewater, N.J.-based company said that each owner of its common stock will receive a single share for every 20 shares they previously held. Fractional shares as a result of the split will be settled […]
Thermo Fisher to buy Irish drug manufacturing site from GSK for $101m
Thermo Fisher Scientific‘s (NYSE:TMO) said today that it inked a deal to acquire a Cork, Ireland-based drug substance manufacturing site from GlaxoSmithKline (NYSE:GSK) for approximately $100.6 million (EU €90 million). Waltham, Mass.-based Thermo Fisher said that the acquisition of the new site will allow it to expand capacity and meet customer demand for both the development and […]
B. Braun pledges $1B to alleviate IV solution shortages
B. Braun said yesterday that it is investing $1 billion into new and enhanced IV therapy manufacturing facilities to help alleviate saline and other IV fluid shortages faced by healthcare providers in the U.S. The investment, dubbed the ‘Solutions for Life’ initiative, includes a new manufacturing facility in Daytona Beach, Fla. and improvements to existing […]
Valeritas shares fall despite Street-topping Q1 sales
Shares in Valeritas (NSDQ:VLRX) are down more than 15% in after-hours trading despite the medtech firm releasing first quarter 2019 earnings that beat sales expectations and met loss-per-share consensus from Wall Street analysts. The Bridgewater, N.J.-based company posted losses of approximately $14.7 million, or 15¢ per share, on sales of $6.4 million for the three months […]
Glaukos posts Street-topping Q1 earnings
Glaukos (NYSE:GKOS) yesterday posted first quarter 2019 earnings that topped both loss per share and sales expectations on Wall Street. The San Clemente, Calif.-based company posted losses of $1.3 million, or 4¢ per share, on sales of approximately $54 million for the three months ended March 31, seeing losses shrink 50.5% while sales grew 34.6% when […]
Intersect ENT posts mixed-bag Q1 earnings
Intersect ENT (NSDQ:XENT) today posted first quarter earnings that topped sales expectations but missed loss-per-share consensus on Wall Street. The Menlo Park, Calif.-based company posted losses of $10.8 million, or 35¢ per share, on sales of $26.7 million for the three months ended March 31, seeing losses grow 76.1% while sales grew 7.9% compared with the […]