Ra Medical Systems, Inc. - RMED STOCK NEWS

Ra Medical Systems (AMEX: RMED) announced its participation in the virtual H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. Management will present details regarding their DABRA excimer laser, designed for treating vascular diseases, which has FDA clearance for treating chronic total occlusions in lower extremity vascular disease. The webcast of the presentation will be available on their website starting September 13 at 7:00 a.m. Eastern time.

Ra Medical Systems (RMED) reported Q2 2021 net revenue of $1.0 million, up from $0.9 million in Q2 2020, and a net loss of $5.2 million compared to $10.1 million last year. The company sold its Pharos dermatology business to refocus on the growing peripheral artery disease (PAD) market, estimated to exceed $900 million. Total cash as of June 30, 2021, stood at $20.2 million, bolstered by recent offerings. The firm enrolled 70 subjects in its pivotal clinical study, aiming for a total of 100, and is advancing catheter engineering and DABRA technology for potential growth.

Ra Medical Systems (NYSE American: RMED) has announced the sale of its Pharos dermatology business to STRATA Skin Sciences (Nasdaq: SSKN) for $3.7 million in cash. This strategic move aims to focus on the growing peripheral artery disease (PAD) market. CEO Will McGuire stated that the transaction provides immediate cash proceeds to support the advancement of DABRA catheter products and ongoing clinical studies targeting FDA approval for atherectomy. The transition is expected to reduce future cash burn as Ra Medical concentrates on its core business.

Ra Medical Systems (NYSE American: RMED) will report its second quarter 2021 financial results on August 16, 2021, after market close. A conference call for the investment community will follow at 1:30 PM PT (4:30 PM ET) to discuss these results and provide a company update. Participants may pre-register for the call to receive a unique PIN for immediate access. The webcast will be archived for 30 days, and a replay will be available for 48 hours. Ra Medical specializes in excimer laser systems for treating vascular and dermatological conditions.

Ra Medical Systems, Inc. (NYSE American: RMED) has made significant strides in finalizing the next-generation guidewire-compatible DABRA catheter design, following a hands-on workshop with interventionalists. The pivotal clinical trial for the DABRA excimer laser system has enrolled 62 subjects towards a goal of 100. The atherectomy market is projected over $750 million in the U.S. The company aims for regulatory clearance to enhance its market position as it seeks to address the growing vascular disease treatment market.

Ra Medical Systems (RMED) announced Q1 2021 financial results with net revenue of $1.1 million, down from $1.4 million in Q1 2020. Vascular segment revenue was minimal, while dermatology segment revenue decreased to $1.1 million from $1.3 million. The net loss for the quarter was $7.2 million, or $2.48 per share, an improvement from a $7.7 million loss in Q1 2020. The company enrolled 50 subjects in its pivotal clinical study and reported cash reserves of $16 million. Adjusted EBITDA was negative $6.1 million, slightly better than the previous year's negative $6.2 million.

Ra Medical Systems (NYSE American: RMED) will announce its first quarter 2021 financial results on May 11, 2021, after market close. Management will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results and provide a company update. Participants can pre-register for the call to gain immediate access and bypass the live operator. A live webcast will also be available, and the replay will be archived for 30 days.

Ra Medical Systems (NYSE American: RMED) has announced an increase in enrollment for its pivotal clinical trial evaluating the DABRA excimer laser system for treating peripheral arterial disease (PAD). As of April 19, 2021, 42 subjects have been enrolled, reflecting a positive trend with 12 new participants since mid-March. The trial aims to enroll up to 100 subjects and assess safety, technical success, and clinical outcomes, targeting a market estimated to be worth approximately $900 million in 2021.

Ra Medical Systems (RMED) will announce its Q1 2021 financial results after market close on May 11, 2021. A conference call is scheduled for 1:30 PM PT to discuss these results and provide a company update.

The company also disclosed that its fiscal year 2020 financial statements, filed on March 17, 2021, include an audit opinion indicating a potential concern regarding its ability to continue as a going concern.