Welcome to our dedicated page for Inari Medical news (Ticker: NARI), a resource for investors and traders seeking the latest updates and insights on Inari Medical stock.
Inari Medical, Inc. (NASDAQ: NARI) is a leading medical device company dedicated to developing innovative solutions for the interventional treatment of vascular thrombi and emboli. The company's mission centers on improving the lives of patients suffering from venous and other related diseases through the design and production of advanced medical devices.
Inari Medical's product portfolio includes several key devices:
- ClotTriever: Designed for the removal of clots from peripheral blood vessels, primarily treating patients with deep vein thrombosis (DVT).
- FlowTriever System: Used for the treatment of pulmonary embolism (PE).
- InThrill System: Aimed at treating small vessel thrombosis.
- LimFlow System: Another innovative solution recently added to their portfolio through acquisition.
The company operates extensively within the United States but also generates significant revenue from international markets. Inari Medical's dedication to clinical research and patient education is evident in their continuous efforts to generate high-quality clinical data to support their products.
In recent news, Inari Medical announced the PEERLESS II RCT, a major clinical study involving up to 1,200 patients. This study aims to influence global guidelines for treating intermediate-risk PE patients. Inari's fourth-quarter financial results showed a substantial revenue increase, driven by the strong adoption of their procedures, new product launches, and global commercial expansion. The company reported $132.1 million in revenue for Q4 2023, marking a 22.6% increase year-over-year.
Additionally, Inari Medical has undertaken significant legal action to protect its intellectual property. The company filed a patent infringement lawsuit against Imperative Care, Inc. and Truvic Medical, Inc., seeking injunctive relief and damages for infringement on eight of its patents.
Guided by principles such as putting patients first and fostering innovation, Inari Medical continues to advance its mission of establishing its treatments as the standard of care for venous thromboembolism and beyond.
Inari Medical (NASDAQ: NARI) has announced its participation in the upcoming Jefferies London Healthcare Conference. The medical device company's management team will deliver a presentation on Wednesday, November 20, 2024, at 10:00 AM GMT / 5:00 AM ET.
Interested parties can access a live audio webcast of the presentation through the company's website at www.inarimedical.com under the Investor Relations section. The presentation recording will remain available for replay for 30 days following the event.
Inari Medical announced positive results from the PEERLESS Randomized Controlled Trial comparing FlowTriever to catheter-directed thrombolytics (CDT) for intermediate-risk pulmonary embolism. The study, conducted across 57 centers with 550 patients, met its primary composite endpoint with a win ratio of 5.01 (p<0.001). FlowTriever demonstrated superiority with patients experiencing:
- 3X fewer clinical deteriorations and therapy escalations
- Fewer ICU admissions and shorter ICU stays
- Faster recovery of clinical symptoms
- Shorter hospital stays
- Fewer 30-day readmissions
The FlowTriever arm showed excellent safety with zero patient deaths at discharge or 7 days, no cardiac arrest-related deteriorations, and 0.4% all-cause mortality at 30-day follow-up.
Inari Medical reported Q3 2024 financial results with revenue of $153.4 million, up 21.4% year-over-year. The company posted a GAAP operating loss of $13.6 million compared to $2.1 million operating income in Q3 2023. Gross profit reached $133.5 million with an 87.1% margin. The company raised its full-year 2024 revenue guidance to $601.5-604.5 million, representing 21.9-22.5% growth over 2023. Inari expects to achieve sustained operating profitability in H1 2025.
Okami Medical has successfully closed a $32.5M financing round led by new investor Vensana Capital and supported by existing investors. The funds will be used to accelerate the development and commercialization of Okami's innovative catheter-based technologies for peripheral vascular occlusion. The company has already developed two key products: the LOBO® Vascular Occlusion System and the SENDERO® Microcatheter.
The LOBO system is designed as a single-device solution for occluding a wide range of peripheral arterial targets, while the SENDERO Microcatheter is optimized for smooth delivery of interventional devices through tortuous peripheral vessels. Both products aim to address shortcomings in traditional vascular occlusion methods, offering more efficient and effective treatment options for various vascular conditions.
Inari Medical (NASDAQ: NARI) announced it will host an analyst and investor meeting to discuss the PEERLESS study following its presentation at the Late-Breaking Clinical Trial Sessions at the 2024 Transcatheter Cardiovascular Therapeutics (TCT) Annual Scientific Symposium in Washington, D.C. The meeting is scheduled for Tuesday, October 29, 2024, at 11:00 a.m. Pacific Time / 2:00 p.m. Eastern Time. Interested parties can access the live event via the Events Section of the Inari investor relations website. A replay will be available shortly after the event and archived on the website.
Inari Medical (NASDAQ: NARI) has announced it will release its third quarter 2024 financial results on Monday, October 28, 2024. The company, which focuses on treating venous and other diseases, will host a conference call and webcast at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss the results and recent highlights.
Interested parties can access the earnings call via telephone or webinar. The call-in numbers are 844-825-9789 for domestic callers and 412-317-5180 for international callers. The webinar can be accessed through Inari's investor relations website or by registering online. A replay of the webinar will be available shortly after the call and archived on Inari's website.
Inari Medical (NASDAQ: NARI) announced that data from the PEERLESS trial will be presented at the 2024 Transcatheter Cardiovascular Therapeutics (TCT) Annual Scientific Symposium on October 29th. The trial is a prospective, randomized controlled study comparing outcomes of patients with intermediate-risk pulmonary embolism treated with Inari's FlowTriever system versus catheter-directed thrombolysis.
The primary endpoint is a win-ratio analysis of clinical and hospital resource utilization outcomes. Dr. Wissam Jaber from Emory University School of Medicine will present the findings during the Late-Breaking Clinical Trial Sessions. This study aims to provide critical information on optimal treatment for PE patients and is the first of several RCTs Inari is conducting in the VTE space.
Inari Medical (NASDAQ: NARI), a medical device company focused on treating venous and other diseases, has announced its participation in two upcoming investor conferences. The company's management team will present at:
1. The 22nd Annual Morgan Stanley Global Healthcare Conference on Wednesday, September 4, 2024, at 7:45 a.m. Eastern Time.
2. The 2024 Wells Fargo Healthcare Conference on Friday, September 6, 2024, at 8:00 a.m. Eastern Time.
Investors and interested parties can access live audio webcasts and replays of both presentations through the 'Investor Relations' section of Inari Medical's website at https://www.inarimedical.com/.
Inari Medical (NASDAQ: NARI) has announced a succession plan for its Chief Financial Officer position. Mitch Hill, the current CFO, will retire effective October 1, 2024, after serving in the role since 2019. He will be succeeded by Kevin Strange, who is currently the SVP of Finance, Accounting, Strategy and Business Development at Inari.
Strange joined Inari in 2020 and has been leading the company's day-to-day financial and accounting operations since 2023. He brings over 15 years of experience in financial and business development leadership roles within the medical device industry. CEO Drew Hykes expressed confidence in Strange's ability to lead Inari's finance and accounting organization into its next growth phase.
Inari Medical (NASDAQ: NARI) reported strong Q2 2024 financial results, with revenue reaching $145.8 million, up 22.5% year-over-year. The company launched VenaCore, a new device for acute and chronic DVT treatment. Despite revenue growth, Inari posted a GAAP operating loss of $22.4 million and a net loss of $31.3 million. Gross margin decreased to 86.3% from 88.4% in Q2 2023. The company raised its full-year 2024 revenue guidance to $594.5-$604.5 million, projecting 20.5-22.5% growth over 2023. Inari expects to reach sustained operating profitability in the first half of 2025.
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