Welcome to our dedicated page for ACUTUS MEDICAL news (Ticker: AFIB), a resource for investors and traders seeking the latest updates and insights on ACUTUS MEDICAL stock.
Acutus Medical, Inc. (Nasdaq: AFIB) is a pioneering company in the field of arrhythmia management, focused on improving the way cardiac arrhythmias are diagnosed and treated. Based in Carlsbad, California, and founded in 2011, Acutus is dedicated to advancing electrophysiology with innovative products and technologies that enable more efficient and effective treatments for complex arrhythmias.
Acutus Medical has attracted some of the most respected experts in electrophysiology and cardiac device manufacturing, creating a strong network of global collaborative partners. Their mission is to provide electrophysiologists with the highest quality suite of tools and exceptional clinical support to better understand and treat complex arrhythmias. This mission is driven by the need for advanced technology in the high-growth electrophysiology market, addressing unmet needs for evidence-based approaches to treating atrial fibrillation, ventricular tachycardia, and other complex arrhythmias.
The company's product portfolio includes the AcQMap® Mapping System, the AcQMap 3D Mapping Catheter, the AcQBlate® Force-Sensing Ablation Catheter, and the AcGuide™ Max 2.0 Steerable Sheath. These products are designed to provide a complete solution for catheter-based treatment of cardiac arrhythmias.
Recently, Acutus announced a strategic realignment to focus exclusively on the production and distribution of left-heart access products for Medtronic, Inc. This shift aims to optimize financial performance and maximize cash flow. As part of this restructuring, Acutus will wind down its electrophysiology mapping and ablation business, significantly reducing its workforce and operational expenses.
Financially, Acutus reported significant growth in revenue from its continuing operations, driven by its partnership with Medtronic. For example, first quarter 2024 revenue was $3.6 million, a 192% increase compared to the same period in 2023. The company has also seen improvements in gross margins and reductions in operating expenses, highlighting the benefits of its strategic focus.
Despite challenges, including the need to manage expenses and cash burn rates, Acutus remains committed to its mission and continues to innovate and support the medical community with advanced solutions for cardiac arrhythmia management.
On April 20, 2023, Acutus Medical, Inc. (Nasdaq: AFIB) reported preliminary unaudited revenue for Q1 2023, expected to be between $4.1 million and $4.2 million, an increase from $3.7 million in Q1 2022. This growth was attributed to higher AcQMap™ disposable revenue outside the U.S. and increased Service & Other Revenue. Despite supply chain challenges impacting results, cash burn is projected to decline by 35% year-over-year. The company also announced the publication of the RECOVER AF study data, emphasizing AcQMap’s role in enhancing patient care. Full financial results will be disclosed on May 11, 2023.
Acutus Medical announced promising findings from the RECOVER AF study, published in EP Europace, highlighting the advantages of AcQMap-guided ablations for patients undergoing retreatment of atrial fibrillation (AF). Results showed that 76% of patients treated with AcQMap experienced freedom from AF after one year, significantly better than the traditional approach. Notably, patients with prior pulmonary vein isolation (PVI) achieved a remarkable 91% success rate. The study underscores the potential of advanced mapping techniques, revealing that personalized therapy improves patient outcomes and addresses a critical unmet need in arrhythmia treatment. Acutus aims to establish AcQMap as the gold standard in electrophysiology, targeting a multi-billion dollar market and enhancing the efficiency of AF procedures.
Acutus Medical has granted 54,700 restricted stock units (RSUs) to seven newly hired employees as part of its 2022 Inducement Equity Incentive Plan. Approved by the Compensation Committee on April 1, 2023, these RSUs will vest over four years, subject to continued employment. This initiative aligns with Acutus' goal to enhance its workforce as it seeks to improve diagnostics and treatments for cardiac arrhythmias. Founded in 2011 and based in Carlsbad, California, Acutus aims to advance electrophysiology through innovative products and strategic partnerships while closely managing its expenses and cash burn.
Acutus Medical (AFIB) reported fourth-quarter revenue of $5.0 million, a 14% increase from $4.4 million a year prior. For the full year 2022, revenue totaled $16.4 million, down 5% from $17.3 million in 2021. The company achieved 19% growth in global mapping procedure volumes and reported its lowest cash burn since its IPO. Notably, a one-time gain of $35.9 million helped secure a positive net income of $15.1 million for Q4. Acutus expects 2023 revenue to range between $18.0-$21.0 million, indicating plans for growth through increased market adoption and expansion.
Acutus Medical (Nasdaq: AFIB) will announce its Q4 and full year 2022 financial results on March 16, 2023. The release will be followed by a conference call at 1:30 PM PT / 4:30 PM ET to discuss key financial results and recent developments. Interested participants can access the call via a registration link. A webinar will also be accessible through the investor relations website, with a replay made available post-call.
Acutus Medical, Inc. (Nasdaq: AFIB), a company focused on arrhythmia management, has granted a total of 14,500 restricted stock units (RSUs) to three new employees, effective March 1, 2023. This grant is part of the Company's 2022 Inducement Equity Incentive Plan and was approved by the Compensation Committee in compliance with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest annually over four years, contingent upon the employees’ continued employment. Acutus aims to enhance the diagnosis and treatment of cardiac arrhythmias through innovative products and technologies, reinforcing its market position amidst ongoing industry challenges.
Acutus Medical (Nasdaq: AFIB) announced promising results from the AcQForce Flutter Study, which evaluated the AcQBlate FORCE sensing ablation catheter. The study reported a 94% acute success rate and no serious adverse events in 110 patients across 21 sites. Notably, the ablation time averaged 13.5 minutes, which is 33% shorter than traditional systems, and required significantly less irrigation volume. These findings, presented at the AF Symposium, support Acutus's upcoming PMA submission for U.S. market expansion and position AcQBlate as a potential growth driver for 2023 and beyond.
Acutus Medical, Inc. (Nasdaq: AFIB) announced the granting of equity awards on February 1, 2023, to 7 new employees under its 2022 Inducement Equity Incentive Plan. The Compensation Committee approved the issuance of 21,500 restricted stock units (RSUs), which will vest annually over four years, contingent upon the employees' continued employment. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) and reflects Acutus's commitment to attracting talent in the arrhythmia management sector. The company aims to enhance diagnostics and treatments for cardiac arrhythmias through innovative products and technologies.
Acutus Medical (Nasdaq: AFIB) reported preliminary unaudited revenue results for Q4 2022 of approximately $4.7-$4.9 million, up from $4.4 million in Q4 2021, primarily due to the growth in commercial AcQMap procedures. The expected full-year revenue is $16.1-$16.3 million, down from $17.3 million in 2021, impacted by declining capital equipment sales and foreign exchange headwinds. The company also appointed Takeo Mukai as Senior Vice President & Chief Financial Officer effective January 9, 2023, following his interim role.
Acutus Medical (Nasdaq: AFIB) announced the acceptance of its AcQForce Flutter abstract for presentation at the AF Symposium in Boston on February 3, 2023. The abstract details the clinical results of the AcQForce Flutter trial, which utilizes the AcQBlate Force Sensing Ablation Catheter. This catheter features a gold tip electrode with four times the thermal conductivity of platinum, enabling efficient energy delivery at lower temperatures. This marks Acutus' first PMA submission and first presentation at a Late-Breaking Clinical Trials session.
FAQ
What is the current stock price of ACUTUS MEDICAL (AFIB)?
What is the market cap of ACUTUS MEDICAL (AFIB)?
What does Acutus Medical do?
Where is Acutus Medical based?
What products does Acutus Medical offer?
What recent strategic changes has Acutus Medical made?
How has Acutus Medical's financial performance been recently?
What is Acutus Medical's mission?
When was Acutus Medical founded?
What recent achievements has Acutus Medical made?
What are the benefits of Acutus Medical's new strategic focus?
Who are Acutus Medical's primary partners?
