Welcome to our dedicated page for KORU Medical Systems news (Ticker: KRMD), a resource for investors and traders seeking the latest updates and insights on KORU Medical Systems stock.
KORU Medical Systems, Inc. (symbol: KRMD) is a prominent developer and manufacturer of innovative medical devices and supplies, headquartered at 24 Carpenter Road, Chester, New York, United States. Specializing in mechanical infusion products, the company is renowned for its cutting-edge FREEDOM Infusion Systems. These systems include the FREEDOM60 and FreedomEdge Syringe Drivers, designed to provide efficient and reliable delivery of life-saving therapies.
KORU Medical Systems primarily focuses on subcutaneous infusion devices, which are essential for administering immunoglobulin therapies to patients suffering from chronic illnesses such as Primary Immunodeficiencies (PIDD) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP). Their product line features the Precision Flow Rate Tubing and HIgH-Flo Subcutaneous Safety Needle Sets, enhancing the safety and effectiveness of home-based treatments.
The company's commitment to quality and innovation has positioned it as a leader in the medical device industry. Recent achievements include advancements in product technology and expanded partnerships aimed at enhancing patient care and expanding market reach. KORU Medical Systems continues to prioritize patient-centered solutions, ensuring their products meet the highest standards of safety and performance.
KORU Medical Systems (KRMD) has announced preliminary unaudited results for Q4 and full year 2024, showing strong growth and improved financial performance. The company reported preliminary Q4 2024 net revenues of $8.9 million, representing a 23% growth compared to the previous year. Full-year 2024 net revenues reached $33.7 million, an 18% increase year-over-year.
The company ended the period with a cash balance of $9.6 million, achieving positive cash flow of $0.8 million in Q4. The full-year cash burn was $1.9 million, showing a 67% improvement from the previous year. KORU Medical has reported success in winning US market share, expanding internationally, and progressing with new drug therapy approvals while improving margins and maintaining disciplined cash management.
KORU Medical Systems (NASDAQ: KRMD), a medical technology company specializing in large volume subcutaneous infusion solutions, has announced its participation in Piper Sandler's 36th Annual Healthcare Conference. The Company's management will present on December 5, 2024, at 11:00 am ET. Investors and interested parties can access both the live and archived webcast through the News/Events page in the Investors section of KORU Medical's website.
KORU Medical Systems reported strong Q3 2024 financial results with net revenues of $8.2 million, representing a 17% increase year-over-year. The company achieved notable growth across segments, with core business up 11% and novel therapies growing 276%. Gross profit increased 19% to $5.2 million, with improved gross margin of 63%. Based on strong performance, KORU raised its full-year 2024 guidance, projecting net revenue of $32.75-$33.25 million (15-17% growth) and gross margin of 62-63%. The company ended Q3 with $8.8 million in cash and expects to achieve cash flow breakeven in Q4 2024.
KORU Medical Systems (NASDAQ: KRMD), a leading medical technology company, will participate in two upcoming investor conferences. The company focuses on developing, manufacturing, and commercializing innovative large volume subcutaneous infusion solutions. The management team will attend the 15th Annual Craig-Hallum Alpha Select Conference on Tuesday, November 19th, 2024. Additionally, they will participate in the Canaccord MedTech, Diagnostics and Digital Health & Services Forum on Thursday, November 21st, 2024.
KORU Medical Systems presented data at the PODD 2024 Conference showing strong nursing preference for their FreedomEdge® Infusion System over manual syringe administration for subcutaneous oncology infusions. The study, conducted across 6 Danish hospitals with 33 nurses performing over 3,000 infusions, revealed significant advantages: 97% of nurses reported more patient interaction time, 81% experienced less hand pain, 91% found it easier to use, and 73% observed reduced patient discomfort. The company plans to file for FDA clearance with an oncology biologic in 2025.
KORU Medical Systems (NASDAQ: KRMD), a medical technology company specializing in subcutaneous infusion solutions, has announced it will release its third quarter 2024 financial results on November 13, 2024. The company will host a conference call and webcast at 4:30 p.m. ET to discuss the results and provide a corporate update. The call will be accessible to U.S. and Canadian participants at (877)-407-0784 and international callers at (201)-689-8560. A live and archived webcast will be available on the company's investor relations website.
KORU Medical Systems (NASDAQ: KRMD), a leading medical technology company, announced its participation in the 8th Annual Lake Street Best Ideas Growth Conference on September 12, 2024, in New York. The company, which specializes in developing and manufacturing innovative large volume subcutaneous infusion solutions, will be engaging in investor meetings during the event.
This conference participation highlights KORU Medical's commitment to investor relations and showcases its position in the medical technology sector. The Lake Street conference is known for featuring promising growth companies, suggesting that KORU Medical's attendance may indicate positive momentum and potential investment opportunities in the subcutaneous infusion market.
KORU Medical Systems (NASDAQ: KRMD) announced a record second quarter for 2024, achieving 22% revenue growth. The company's net revenues hit $8.4 million, driven by a 20% growth in core business and geographic expansion. Gross profit increased by 41% to $5.5 million with a gross margin of 65%, showing a year-over-year improvement of 890 basis points. Ending cash balance was $10.5 million with a quarterly cash usage of $0.3 million.
KORU raised its full-year 2024 revenue guidance to $32.0-$32.5 million, representing a growth of 12-14%, and gross margin guidance to 61-62%. Business highlights include regulatory clearance for the FreedomEdge® Infusion System in Japan, progress in oncology biologics, and entry into a Phase III clinical trial for nephrology. Despite the positive earnings, the company reported a net loss of $1.0 million or ($0.02) per diluted share, a significant reduction from the previous year's loss of $2.5 million.
KORU Medical Systems (NASDAQ: KRMD), a leading medical technology company specializing in large volume subcutaneous infusion solutions, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event is scheduled for August 14, 2024, with KORU Medical's management set to present at 8:30 am ET.
Interested parties can access both the live and archived webcast of the presentation through the News/Events page in the Investors section of KORU Medical's official website at www.korumedical.com. This conference provides an opportunity for KORU Medical to showcase its innovative and patient-centric solutions to a wider audience of investors and industry professionals.
KORU Medical Systems (NASDAQ: KRMD) announces the promotion of Christopher Pazdan to Chief Operating Officer, effective July 18, 2024.
Pazdan, with KORU since 2021, was previously Senior Vice President of Operations. He will now oversee Research and Development, product development, and innovation efforts. CEO Linda Tharby commends Pazdan for his transformative leadership and familiarity with the company's culture.
Brian Case, Chief Technology Officer, will depart on September 16, 2024. Tharby thanks him for his contributions to the R&D team and product development process.
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