Intuitive Surgical Inc. - ISRG STOCK NEWS

Jupiter Endovascular, a medical technology startup, has exited stealth mode with $21 million in new financing to fund a pivotal trial for Pulmonary Embolism. The company is developing a new class of endovascular procedures using Endoportal Control™ technology, which aims to bring the precision of direct surgical access to catheter-based interventions. Carl J. St. Bernard has been appointed as CEO, bringing over 30 years of experience in the life sciences industry.

The funding round, led by Sonder Capital with participation from strategic investors, will support the upcoming pivotal trial and development of additional clinical applications. Jupiter's technology addresses limitations in catheter-based therapies by providing stability and control within complex cardiovascular anatomies, potentially revolutionizing treatment for millions of patients worldwide.

Neptune Medical, a medical device innovator, has announced a successful $97 million Series D financing and the spinout of its subsidiary, Jupiter Endovascular. The financing round saw significant participation from Sonder Capital and Olympus of the Americas, along with other existing and new investors. This strategic move allows Neptune Medical to focus on gastrointestinal robotics, while Jupiter Endovascular will concentrate on its novel endovascular technology platform.

The financing will strengthen Neptune Medical's position in the GI space, as evidenced by the recent appointment of Dr. Fred Moll, a medical robotics pioneer, as Chairman of the Board. Both companies aim to lead innovation in their respective specialties, with Neptune pushing boundaries in GI robotics and Jupiter revolutionizing endovascular therapies.

Intuitive (NASDAQ:ISRG), a global leader in minimally invasive care and robotic-assisted surgery, has appointed its President David J. Rosa to the company's Board of Directors, effective July 24, 2024. Rosa joins CEO Gary S. Guthart as one of two Intuitive executives on the Board. With nearly 27 years at Intuitive, Rosa has held leadership positions across multiple functions and currently oversees the company's business unit, quality, regulatory, manufacturing, and commercial operations.

Rosa's appointment expands the Board from eleven to twelve directors, adding his deep operational experience to complement Guthart's focus on enterprise strategy. This move aims to balance strategy and operations at the Board level, enhancing Intuitive's stewardship.

Intuitive (Nasdaq: ISRG) reported strong Q2 2024 financial results, with revenue increasing 14% to $2.01 billion. Worldwide da Vinci procedures grew approximately 17% compared to Q2 2023. The company placed 341 da Vinci surgical systems, including 70 da Vinci 5 systems, bringing the total installed base to 9,203 systems, a 14% increase year-over-year.

GAAP net income attributable to Intuitive was $527 million, or $1.46 per diluted share, while non-GAAP net income was $641 million, or $1.78 per diluted share. Instruments and accessories revenue increased by 16% to $1.24 billion, driven by procedure volume growth. The company ended Q2 with $7.68 billion in cash, cash equivalents, and investments.

Intuitive (NASDAQ: ISRG) announced FDA clearance for revised labeling of its da Vinci X and Xi systems, specific to radical prostatectomy. The revision is based on real-world evidence from 2007 to 2014, indicating similar five- to 10-year cancer survival rates for robotic-assisted and open surgeries. This collaboration involved the FDA, Aetion, and NEST, highlighting the potential of real-world data in regulatory science. The labeling change reflects these findings, affirming the non-inferiority of robotic-assisted surgeries in cancer treatment outcomes.

Intuitive announced the election of Lewis Chew to its Board of Directors, while Alan Levy, PhD, and Don Kania, PhD, retired from the Board. Chew, a former CFO at Dolby Labs, brings extensive experience in global organizations and technologies. Levy and Kania, long-serving members, praised Intuitive's commitment to innovation. Chew's appointment signals a strategic move towards enhancing minimally invasive care.

Intuitive, a global technology leader in robotic-assisted surgery, announced impressive first-quarter financial results for 2024. The company reported 16% growth in worldwide da Vinci procedures, placed 313 da Vinci surgical systems, and increased its installed base to 8,887 systems. Revenue reached $1.89 billion, up by 11% from the previous year. The company also obtained CE mark certification for the da Vinci single-port surgical system and FDA clearance for da Vinci 5. Financially, revenue increased by 11%, with instruments and accessories revenue up by 18%. Systems revenue was $418 million. GAAP net income was $545 million, and non-GAAP net income was $541 million. The company ended the quarter with $7.32 billion in cash, cash equivalents, and investments.

Sonder Capital appoints Kate Garrett as Managing Partner, with Co-founders assuming Co-chair roles as the firm closes its second early stage fund, Sonder Futures II. Garrett brings extensive experience and success in healthcare innovation, leading the firm into its next growth phase.

Intuitive (NASDAQ:ISRG) receives FDA clearance for da Vinci 5, a next-generation multiport robotic system, with over 150 enhancements including improved accuracy, next-gen 3D display, force-sensing technology, meaningful workflow enhancements, expanded computing power, and greater surgeon comfort.