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, Inc. (NASDAQ: NARI) has enrolled its first high-risk pulmonary embolism (PE) patient in the FLAME study, which aims to evaluate treatment outcomes in up to 250 high-risk PE patients. This multicenter observational study, the largest of its kind, seeks to change treatment guidelines by examining patients treated with FlowTriever and those managed conservatively. Additionally, Inari is expanding the FLASH study to 1,000 patients to gather more data and is set to monitor patients using the Apple Watch, emphasizing their commitment to tackling pulmonary embolism with innovative studies.
Inari Medical (NASDAQ: NARI) reported strong Q4 2020 results, with revenue of $48.6 million, a 26% sequential increase, and 144% year-over-year growth. The company treated a record 4,600 patients, reflecting a 24% sequential rise. Their gross profit reached $44.9 million, with a gross margin of 92.4%. For 2020, total revenue was $139.7 million, up from $51.1 million in 2019, and net income was $13.8 million. Despite COVID-19 challenges, Inari expects Q1 2021 revenue between $54-$56 million and full-year 2021 revenue of $225-$235 million.
Inari Medical, Inc. (NASDAQ: NARI) will announce its fourth quarter and full year 2020 financial results on March 9, 2021, after market close. Following the announcement, a conference call is scheduled at 1:30 p.m. PST / 4:30 p.m. EST to discuss the results and recent highlights. Inari specializes in developing medical devices for venous diseases, with notable products like the ClotTriever and FlowTriever systems, designed for thrombosis treatment. Both systems are FDA cleared and CE Mark approved.
Inari Medical, Inc. (NASDAQ: NARI) announced its participation in two upcoming investor conferences. The BTIG Virtual MedTech Conference will take place on February 17, 2021, at 4:00 p.m. ET, while the SVB Leerink Partners Virtual Global Healthcare Conference is scheduled for February 24, 2021, at 1:00 p.m. ET. Both presentations will be available for live streaming on the company’s Investor Relations webpage. Inari specializes in medical devices for venous disease treatment, with products like the ClotTriever and FlowTriever systems designed for thrombectomy.
Inari Medical, Inc. (NASDAQ: NARI) announced positive interim results from the ClotTriever Outcomes Registry, focusing on 64 chronic DVT patients. The ClotTriever device removed a median of 90% of clots in a single session without thrombolytics, with no serious adverse events reported. The median procedure time was 34 minutes, and the median blood loss was 50cc. Inari's recent CE Mark approval allows for global commercialization, enhancing treatment options for venous disease patients. The company has treated over 20,000 VTE patients, emphasizing the ongoing need for improved therapies.
Inari Medical, Inc. (NASDAQ: NARI) reported preliminary unaudited revenue for Q4 2020, estimating between $47.9 million and $48.9 million, marking a 141% to 146% increase year-over-year and a 24% to 26% rise from Q3 2020. The company performed approximately 4,600 procedures in Q4, up 156% year-over-year and 24% from the prior quarter. The COVID-19 pandemic posed challenges, yet the CEO expressed confidence in strategic execution and upcoming earnings report.
Full financial results will be disclosed in the Annual Report on Form 10-K.
Inari Medical, Inc. (NASDAQ: NARI) has announced FDA 510(k) clearance for its FlowTriever system to treat clot in transit (CIT) in the right atrium, a life-threatening condition affecting 25,000 patients annually in the U.S. With a mortality rate exceeding 80% if untreated, FlowTriever is the first thrombectomy system cleared without requiring cardiopulmonary bypass. The product aims to revolutionize venous thromboembolism (VTE) treatment by eliminating thrombolytic drugs and associated risks. This development reinforces Inari's commitment to improving care for VTE patients.
Inari Medical, Inc. (NASDAQ: NARI) announced key appointments to enhance operations and patient care. Venkat Tummala, MD, joins as VP, Medical Affairs, specializing in physician education and device development. Justin Crockett takes on the role of VP, Inari Solutions Group, focusing on optimizing clinical programs for venous thromboembolism treatment. Both leaders bring extensive experience from reputable organizations that will support Inari's mission to improve patient outcomes in venous diseases.
Inari Medical (NASDAQ: NARI) announced positive follow-up results from its FLASH study, involving 230 patients treated with the FlowTriever system for pulmonary embolism (PE). The 30-day mortality rate was just 0.4%, significantly lower than the national average of 25.9% for high-risk patients. The study also reported a readmission rate of 6.7% versus nearly 25% nationally. Patients showed significant improvements in hemodynamic variables and symptoms of dyspnea. With over 60% of participants having no contraindications to lytics, FlowTriever is establishing itself as a frontline therapy for PE.
Inari Medical (NASDAQ: NARI) has appointed Kevin Strange as VP of Strategy and Business Development and Angela Ahmad as General Counsel. Strange brings over 15 years of medical device experience, including roles at Boston Scientific and Bank of America Merrill Lynch. Ahmad, with 20 years of corporate and securities expertise, previously served as Deputy General Counsel at CoreLogic. These appointments aim to strengthen Inari's corporate strategy and legal oversight, focusing on venous disease innovations.
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