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 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.
Inari Medical (NASDAQ: NARI), a medical device company focused on treating venous and other diseases, has announced it will release its second quarter 2024 financial results on Tuesday, July 30, 2024. The company will host a conference call and webcast at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time on the same day to discuss the results and recent highlights.
Interested parties can access the live call by dialing 844-825-9789 (domestic) or 412-317-5180 (international). 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) has filed a patent infringement lawsuit against Imperative Care and Truvic Medical. The lawsuit, lodged in the United States District Court for the Northern District of California, alleges that Truvic is infringing on eight Inari patents related to aspiration-based thrombectomy devices used for treating pulmonary emboli and deep vein thrombosis. Inari seeks injunctive relief and damages. CEO Drew Hykes emphasized the company's commitment to protecting its intellectual property rights, which are vital to its mission of improving patients' lives through innovative medical solutions.
Inari Medical, Inc. will be participating in the 2024 Bank of America Securities Healthcare Conference to present their medical device solutions for venous and other diseases. The presentation will take place on May 15, 2024, at 11:20 AM Pacific Time, with a live webcast available on their website for 30 days.
Inari Medical, Inc. reported a strong first quarter with revenue of $143.2 million, up 23.3% year-over-year. Despite a GAAP operating loss of $17.2 million, non-GAAP operating loss improved to $5.6 million. The company continues to focus on growth, driving adoption of its toolkits and investing in clinical data. Gross margin was 86.8%, and operating expenses increased due to personnel-related expenses. Inari expects full-year 2024 revenue of $592.5-602.5 million and aims for sustained operating profitability in the first half of 2025.
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