Shares in Glaukos (NYSE:GKOS) have fallen today after the ophthalmological device maker topped Wall Street sales consensus but missed on loss-per-share expectations with its second quarter earnings results. The San Clemente, Calif.-based company posted losses of $5.4 million, or 15¢ per share, on sales of $43.2 million for the three months ended June 30, seeing losses grow 63.5% […]
Business/Financial News
PharmaJet, Mundipharma team up to boost access to needle-free drug-delivery systems
PharmaJet and Mundipharma have inked an exclusive partnership to market and distribute PharmaJet’s Tropis and Stratis needle-free drug-delivery devices to more than 120 markets around the world. The devices are designed for vaccine immunizations. PharmaJet, which has an ongoing deal to use its devices in the World Health Organization’s efforts to eradicate polio, touts that […]
House votes (again) to repeal medical device tax
The House voted 283 to 132 this week to repeal the 2.3% tax levied upon medical devices as part of the Affordable Care Act. The medical device tax, which has long been decried by the industry as a measure that squashes innovation and kills jobs, has been on hold since 2014. The tax’s moratorium was extended […]
United Therapeutics $216m deal for SteadyMed clears HRS Act waiting period
United Therapeutics (NSDQ:UTHR) said today that it stepped closer to completing its $216 million acquisition of SteadyMed (NSDQ:STDY) after terminating the the HSR Act waiting period. The merger combines two companies that were in court as recently as last November, fighting over patents covering treprostinil, the active ingredient in both companies’ lead products. In the deal, United Therapeutics will pay […]
Provention Bio closes $64m IPO
Provention Bio yesterday closed its initial public offering, raising approximately $63.9 million. Funds from the round will help support the Oldwick, N.J.-based company’s clinical-stage biopharmaceuticals that aim to prevent or intercept immune-mediated diseases. Provention Bio said that it expects shares of its common stock will begin trading on Nasdaq under the ticker symbol “PRVB” next […]
Cook Medical touts launch, first use of Advance CS, Compass CT systems
Cook Medical today announced the launch and first use of its Advance CS coronary sinus infusion catheter and Compass CT disposable pressure transducer designed for treating heart failure patients. The CS catheter is a percutaneous balloon infusion catheter designed for use in retrograde coronary sinus infusion procedures to infuse therapeutic agents into the heart via the […]
MassDevice co-founder Johnson to lead MassMEDIC
MassDevice co-founder Brian Johnson is set to depart from the publication he founded nearly 10 years ago and take over as president of the Massachusetts Medical Device Industry Council. Johnson will succeed Tom Sommer as president of the regional medical technology association. Sommer has served as MassMEDIC’s president since the group was founded in 1996. The […]
MiMedx top brass resign amid internal accounting investigation
MiMedx CEO Parker H. “Pete” Petit and COO and President William C. “Bill” Taylor have resigned as a board-directed independent investigation continues into accounting practices, Marietta, Ga.–based MiMedx (Nasdaq: MDXG) announced today. Petit and Taylor’s exit comes after recent departures of MiMedx’s CFO and corporate controller and treasurer. In addition to the resignations of top brass, the […]
DreaMed Diabetes wins FDA authorization to market insulin therapy management platform
DreaMed Diabetes said today that U.S. FDA has granted a de novo request for DreaMed Advisor Pro, its AI-based diabetes treatment decision support software. The news comes about four months after the Petah Tikva, Israel–based company won CE Mark clearance for the decision-support platform, which is meant to help healthcare professionals manage insulin therapy for people with Type […]
Non-invasive glucose monitor dev RSP Systems raises $8m in Series B
Denmark-based diabetes device dev RSP Systems said today it raised approximately $7.6 million (EU €6.5 million) in a Series B round to support its non-invasive glucose monitor technology. Funds raised in the round will help support clinical trials, pursuit of regulatory approval and eventual commercialization for its glucose monitoring technology. The round was joined by […]