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.
Drew Hykes will replace Bill Hoffman as Chief Executive Officer of Inari Medical (NASDAQ: NARI), effective January 1, 2023. Hykes, who has been with Inari since 2017, previously served as Chief Operating Officer and Chief Commercial Officer. Under his leadership, Inari has experienced significant growth, evolving from a startup to a public company with over 1,000 employees. The company also announced its second quarter 2022 financial results, highlighting its minimally invasive thrombectomy devices aimed at treating venous diseases.
Inari Medical reported a strong second quarter in 2022, achieving $92.7 million in revenue, a 46% year-over-year increase. The company expanded its U.S. commercial footprint to over 270 territories and received FDA clearance for two new products. Gross profit stood at $82.4 million, resulting in an 88.8% gross margin. However, the operating expenses surged to $91.7 million, leading to a net loss of $10.2 million. Inari reaffirmed its full-year revenue guidance of $360 million to $370 million.
Inari Medical (NASDAQ: NARI) will announce its Q2 2022 financial results on August 3, 2022. A conference call is scheduled for 2:00 PM PT to discuss these results and recent highlights. The company specializes in medical devices for treating venous diseases, offering minimally invasive catheter-based solutions like the ClotTriever and FlowTriever systems, which are FDA-cleared and CE-marked for clot removal. Investors can join the conference call after registering.
Okami Medical Inc. has received FDA 510(k) clearance for its LOBO-7 and LOBO-9 Vascular Occluders, enhancing its LOBO portfolio designed for peripheral vascular interventions. These new devices, along with existing LOBO-3 and LOBO-5, enable efficient blood vessel occlusions, crucial for procedures requiring rapid response in trauma cases. According to the company's leadership, this expansion emphasizes their commitment to innovation in vascular embolization, potentially improving patient outcomes and procedural efficiency.
Inari Medical (NASDAQ: NARI) reported a strong first quarter for 2022, achieving revenue of $86.8 million, a 51% increase year-over-year. The company treated 8,800 patients, a sequential rise of 14%, and launched the new Intri24 device, enhancing its product line. Despite a net loss of $3.1 million, Inari revised its full-year revenue guidance upward to between $360 million and $370 million. The improved outlook reflects robust growth in U.S. operations and new product introductions.
Inari Medical, Inc. (NASDAQ: NARI) announced its management will present at the Bank of America 2022 Healthcare Conference on May 12, 2022, at 10:40 a.m. PT in Las Vegas. The presentation focuses on the company's innovative solutions for treating venous diseases, including FDA-cleared thrombectomy devices designed to remove large clots effectively. A live audio webcast of the event will be available on the company's website for 90 days under the 'Investor Relations' section.
Inari Medical, Inc. (NASDAQ: NARI) will release its Q1 2022 financial results on May 4, 2022. The company aims to transform the treatment of venous diseases with innovative catheter-based thrombectomy devices. Inari's ClotTriever is FDA 510(k)-cleared for deep vein thrombosis treatment, while FlowTriever is cleared for pulmonary embolism. Following the earnings release, a conference call will be held to discuss financial results and updates. Interested parties can access the live call and webinar via the company's investor relations website.
Inari Medical, Inc. (NASDAQ: NARI) announced the completion of a public offering, selling an additional 300,000 shares after exercising an over-allotment option. The total number of shares sold reached 2,300,000, generating approximately $186.3 million in gross proceeds at a price of $81.00 per share. Major underwriters included BofA Securities and Morgan Stanley. The transaction was conducted under an effective shelf registration statement filed with the SEC.
Inari Medical, Inc. (NASDAQ: NARI) has announced a public offering of 2,000,000 shares at $81.00 per share, expected to close around March 15, 2022. The underwriters have a 30-day option to purchase an additional 300,000 shares. Proceeds from this offering will support Inari’s mission to treat patients with venous diseases using their innovative catheter-based systems. The offering is registered under an effective shelf registration statement filed with the SEC.
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