A reverse stock split went into effect today for Delcath Systems (OTC:DCTH) — developer of the Chemostat hepatic delivery system for treating cancer. The 1-for-700 reverse stock split is meant to reduce the number of common stock shares and shares reserved for issuance to 1.2 million, from a previous 1.4 billion. The authorized number of shares […]
Report: 3M may sell off its drug-delivery business for $1 billion
3M (NYSE:MMM)may try to sell off its drug-delivery business in a deal that could fetch $1 billion, according to a report by Bloomberg. The drug delivery division makes transdermal drug patches, microneedle delivery systems, nasal devices, oral inhalers and packaging films for drug delivery. 3M is also developing a smart inhaler and is looking for […]
Insulet Q3 earnings beat The Street despite bottom-line slide
Insulet (NSDQ:PODD) shares are rising today on third-quarter results that topped the consensus forecast, despite a dip in profits. The Acton, Mass.–based company posted profits of $852,000, or 1¢ per share, on sales of $192.1 million for the three months ended Sept. 30, for a 48.6% bottom-line slide on sales growth of 27.1%. Adjusted to exclude […]
Surmodics shares drop on Q3 earnings, Sundance DCB wins breakthrough FDA nod
Surmodics (NSDQ:SRDX) shares plummeted today despite third-quarter results that topped Wall Street projections. Eden Prairie, Minn.-based Surmodics posted profits of $3.55 million, or 26¢ per share, on sales of $30.8 million for the three months ended Sept. 30, moving from red to black on revenue growth of 33.8% compared with Q3 2018. Adjusted to exclude one-time […]
DarioHealth beats forecast with Q3 results
DarioHealth (NSDQ:DRIO) posted lower-than-expected net losses during the third quarter and met the consensus revenues forecast. The Israeli company, which makes mobile phone-compatible blood glucose and blood pressure monitors, reported losses of -$2.8 million, or -6¢ per share, on sales of $1.9 million for the three months ended Sept. 30. DarioHealth pared its losses by -31.0% […]
Frequency Therapeutics prices $84m IPO
Frequency Therapeutics said yesterday that it priced its initial public offering at roughly $84 million. The 6-million-share offering priced at $14 per share and includes a 30-day underwriters option on another 900,000 shares that’s worth $12.6 million, the Woburn, Mass.-based company said. Frequency said it expected to begin trading the shares on the NASDAQ exchange […]
Valeritas jumps on $25m refi, Q3 prelims
Valeritas (NSDQ:VLRX) said today that cut its debt load by $25 million in a refinancing move and released its third-quarter preliminary results, sending its share price up on Wall Street in early trading. The terms of refi saw the exchange of $25.0 million in senior debt owned by CR Group and another creditor for new […]
Abbott wins FreeStyle Libre reimbursement in Ontario, Quebec
Abbott (NYSE:ABT) said today that it has won public reimbursement in Ontario and Quebec for its FreeStyle Libre sensor-based glucose monitoring system — the first of its kind listed by any provincial health plan in Canada. FreeStyle Libre is designed to monitor glucose levels with a small sensor on the back of the upper arm […]
FDA approves ready-to-use liquid glucagon from Xeris
Xeris Pharmaceuticals (NSDQ:XERS) said yesterday that the FDA has approved its Gvoke glucagon injection for the treatment of hypoglycemia. Gvoke is a ready-to-use, room-temperature, stable liquid glucagon designed to treat severe hypoglycemia in pediatric and adult patients with Type 1 diabetes aged two years old or above. Chicago-based Xeris’ Gvoke may be administered with a pre-filled […]
Medtronic lands reimbursement for MiniMed 670G pump in Germany
Medtronic (NYSE:MDT) said today it has secured reimbursement for its MiniMed 670G insulin pump system from regulators in Germany. The German Federal Association of the Statutory Health Insurances (GKV-SV) granted reimbursement for the smart insulin pump for patients with type 1 diabetes, according to the company. In May, Medtronic released real-world data from more than 8 […]
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