Welcome to our dedicated page for AngioDynamics news (Ticker: ANGO), a resource for investors and traders seeking the latest updates and insights on AngioDynamics stock.
Founded in 1988 in Queensbury, N.Y., U.S., AngioDynamics, Inc. (NASDAQ: ANGO) is a leading provider of innovative medical devices that serve interventional radiologists, nephrologists, and surgeons for the minimally invasive treatment of cancer and peripheral vascular disease. The company's product portfolio includes market-leading systems such as the NanoKnife® system, radiofrequency ablation devices, and a variety of vascular access, angiographic, dialysis, angioplasty, and embolization products.
AngioDynamics has a strong track record of developing and bringing new technologies to market, maintaining a dynamic presence in the high-growth medical device industry. Recently, the company reported net sales of $78.7 million for the first quarter of fiscal year 2024, including a 13.3% increase in Med Tech net sales driven by the NanoKnife platform. AngioDynamics also completed the sale of its Dialysis and BioSentry Biopsy Tract Sealant System businesses, significantly enhancing its financial flexibility.
In addition to financial growth, AngioDynamics continues to innovate with significant developments such as the APEX-AV study, aimed at evaluating the safety and efficacy of the AlphaVac F1885 System for treating acute pulmonary embolism. The company’s AlphaVac F1885 System has recently received FDA clearance for the treatment of pulmonary embolism, a significant milestone that expands its indication in critical medical scenarios.
With ongoing plans to transition to a fully outsourced manufacturing model and recent divestitures to streamline its portfolio, AngioDynamics is well-positioned to focus on its core strengths and drive long-term profitability. The company's net sales are projected to be between $328 to $333 million for fiscal year 2024, with an anticipated improved gross margin and reduced adjusted loss per share.
AngioDynamics, Inc. (NASDAQ: ANGO) has announced that President and CEO Jim Clemmer, along with Executive VP and CFO Stephen Trowbridge, will present at the Needham 22nd Annual Virtual Healthcare Conference on April 17, 2023, at 8:00 a.m. ET. The presentation aims to showcase the company’s innovative medical technologies focused on enhancing blood flow and cancer treatment options, ultimately improving patient quality of life.
A live webcast will be available in the “Investors” section of AngioDynamics’ website, with a replay accessible post-event. The presentation highlights the company’s commitment to addressing unmet patient needs through its transformative medical solutions.
AngioDynamics reported third-quarter fiscal 2023 net sales of $80.7 million, a 9.1% increase from last year. Med Tech sales grew 16.6% to $22.9 million, driven by Auryon and NanoKnife products. However, gross margin decreased to 50.2%, down 200 basis points year-over-year. The company reported a net loss of $9.5 million or $0.24 per share, compared to a loss of $5.0 million a year ago. Adjusted EBITDA was $4.3 million, falling from $6.7 million in Q3 2022. Due to lower AngioVac sales, the fiscal 2023 guidance for net sales was revised downward to $338 million to $342 million.
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