Medtronic (NYSE:MDT) announced that it completed its previously announced $1.1 billion acquisition of Intersect ENT (Nasdaq:XENT). Fridley, Minnesota-based Medtronic announced in August 2021 that it would acquire all outstanding shares of the Menlo Park, Calif.-based sinus implant maker for $28.25 per share in an all-cash transaction. As a result of the transaction, Medtronic acquires Intersect ENT’s Propel and Sinuva drug-eluting […]
Intersect ENT Inc.
Intersect ENT wins CE mark for Propel Contour sinus implant
Intersect ENT (NSDQ:XENT) announced today that it received CE mark approval for its Propel Contour sinus implant. Menlo Park, Calif.-based Intersect ENT designed its Propel Contour sinus implant to maintain patency and reduce inflammation while conforming to the sinus ostia (openings) through mechanical support and steroid delivery where needed to optimize sinus surgery outcomes. Get the […]
Intersect ENT slides on mixed bag Q1
Intersect ENT (NSDQ:XENT) shares took a nosedive on first-quarter results that missed the consensus earnings forecast. XENT shares were down -9.4% at $19.06 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.8%. The Menlo Park, Calif.-based company posted losses […]
Intersect ENT posts mixed bag Q4
Intersect ENT (NSDQ:XENT) posted a mixed bag of results for the fourth quarter, topping consensus revenue estimates but missing on earnings. The Menlo Park, Calif.-based company posted losses of –$20.2 million, or –62¢ per share, on sales of $28.2 million for the three months ended Dec. 31, 2020, for a massive bottom-line slide from losses of […]
CMS consolidates coverage for Intersect ENT’s corticosteroid-eluting implant
Intersect ENT (NSDQ:XENT) announced today that it received consolidated Medicare coverage for its Sinuva sinus implant. Menlo Park, Calif.-based Intersect ENT said in a news release that CMS published an average selling price (ASP) for the Sinuva implant, providing predictability, transparency and confidence of reimbursement for providers and payers in the future. Sinuva is a […]
Intersect ENT’s Q3 beats on sales, misses on earnings
Intersect ENT (NSDQ:XENT) this morning posted wider-than-expected losses but topped the consensus sales estimate with its third-quarter results. Menlo Park, Calif.-based Intersect reported losses of -$12.8 million, or -41¢ per share, on sales of $24.1 million for the three months ended Sept. 30, widening its losses by 69.1% on a -2.5% sales decline compared with […]
Intersect ENT’s Ascend study misses endpoint
Intersect ENT (NSDQ:XENT) shares plunged today after the company said it failed to meet the primary endpoint in a study of its Ascend investigational drug-coated sinus balloon. The 70-person, randomized, double-blind trial was designed to compared treatment with Intersect ENT’s DCB when randomized against an uncoated balloon control. The study missed the primary endpoint, frontal sinus […]
FDA approves delivery system for Intersect ENT’s Propel implant
Intersect ENT (NSDQ:XENT) said today that it won FDA approval for a new delivery system for its Propel Mini steroid-eluting sinus implant. The Menlo Park, Calif.-based company said the straight delivery system is designed to place the mometasone furoate-eluting Propel Mini in the ethmoid sinus behind the nasal bridge. The SDS is slated to hit […]
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 […]
Intersect ENT wins preliminary CMS reimbursement code
Shares in Intersect ENT (NSDQ:XENT) got a boost yesterday on news that the Centers for Medicare and Medicaid Services (CMS) had assigned the company’s Sinuva corticosteroid-eluting sinus implant a preliminary J-code. Intersect ENT stock, which had been bumping along just under $30 per share last week, jumped to $33.13 per share at Monday’s market open, […]
