Welcome to our dedicated page for Ra Medical Systems news (Ticker: RMED), a resource for investors and traders seeking the latest updates and insights on Ra Medical Systems stock.
Ra Medical Systems, Inc. (symbol: RMED) is a U.S.-based medical device company specializing in advanced excimer laser-based vascular and dermatological therapies. The company leverages its innovative laser technology to treat vascular and dermatological diseases, aiming to enhance patients' quality of life by restoring blood flow in arteries and alleviating chronic skin conditions.
The company markets two primary products:
- DABRA Catheter and Laser: Cleared by the U.S. FDA for minimally invasive endovascular treatment of vascular blockages resulting from lower extremity vascular disease, including peripheral artery disease (PAD).
- Pharos Excimer Laser: Designed for treating inflammatory skin conditions such as psoriasis, atopic dermatitis, and leukoderma, and also FDA-cleared.
Ra Medical, through its wholly owned subsidiary Catheter Precision, continues to make strides in the medical device industry with recent advancements and strategic partnerships. The VIVO™ system, a non-invasive 3D imaging technology, is used in pre-procedure planning for ventricular ablations, and has been adopted by numerous hospitals for its effectiveness in identifying the earliest electrical activation of ventricular arrhythmias.
One of the company's recent achievements includes the completion of 100 ventricular ablation procedures at the Heart Hospital of New Mexico at Lovelace Medical Center. This milestone highlights the growing recognition of VIVO's benefits in streamlining complex medical procedures.
Ra Medical Systems is also expanding its international footprint. The company has filed for CE Mark for its LockeT device, a suture retention product intended to assist in hemostasis after percutaneous venous punctures. Expected within the third quarter of 2023, this CE Mark will open new markets in Europe and beyond.
Amidst these developments, Ra Medical is preparing for a corporate name change to Catheter Precision, Inc., effective August 17, 2023, with a new ticker symbol VTAK. This change marks a strategic shift focusing solely on cardiac electrophysiology, away from its previous laser catheter business.
Ra Medical's commitment to innovation and collaboration with medical professionals underscores its mission to deliver groundbreaking technology for better patient outcomes in the treatment of cardiac arrhythmias.
Ra Medical Systems (RMED) reported Q4 2020 financial results, achieving net revenue of $1.2 million, a decrease from $1.4 million in Q4 2019. The revenue from the vascular segment was minimal, while dermatology revenue remained steady at $1.2 million. The net loss for Q4 2020 was $10.4 million, compared to a loss of $9.7 million in Q4 2019. For the full year, RMED's revenue was $4.4 million, down from $7.2 million in 2019. The company also reported cash reserves of $23.9 million and a focus on clinical trials and product development.
Ra Medical Systems (NYSE American: RMED), a medical device firm, will participate in two virtual investment conferences: the 33rd Annual Roth Conference from March 15-17, 2021, with virtual investor meetings, and the Maxim 2021 Emerging Growth Virtual Conference from March 17-19, 2021, where CEO Will McGuire will present a company overview. The corporate presentation is accessible on their website. Ra Medical specializes in excimer lasers and catheters for treating vascular and dermatological conditions, with FDA-cleared products like the DABRA and Pharos systems.
Ra Medical Systems (NYSE: RMED) will report its 2020 Q4 and full-year financial results after market close on March 16, 2021. The management team will host a conference call for the investment community at 1:30 PM PT to discuss results and provide company updates. Participants can pre-register for immediate access or join live by calling specified numbers. Ra Medical specializes in excimer laser technology for treating vascular and dermatological diseases, with FDA-cleared products like DABRA and Pharos.
Ra Medical Systems (NYSE American: RMED) will participate in the H.C. Wainwright Global Life Sciences Virtual Conference on March 9-10, 2021. The company will present its overview and engage in virtual meetings with investors. The webcast will be accessible starting March 9, 2021, at 7:00 a.m. Eastern Time until March 10, 2021, at 9:00 p.m. Eastern Time. Ra Medical's products include the DABRA and Pharos excimer laser systems, both FDA-approved for treating vascular and dermatological diseases, and are manufactured in a certified facility in Carlsbad, California.
Ra Medical Systems (RMED) announces the appointment of Susanne L. Meline to its Board of Directors effective January 31, 2021, increasing Board membership to seven. Meline brings over 20 years of experience in finance and corporate governance, co-founding Francis Capital Management, a current shareholder. Her insights, as an observer in Board meetings, are valued by the leadership. Meline aims to enhance shareholder value and patient outcomes. Ra Medical is known for its excimer laser systems, FDA-cleared for treating vascular and dermatological diseases.
Ra Medical Systems (NYSE American: RMED) announces advancements in its next generation DABRA catheter, aimed at treating vascular diseases. The company has completed a quality improvement plan and initial testing suggests a shelf life of six months or more. The issues impacting shelf life have been identified and mitigated through changes in materials and processes. Expected completion of further engineering work is by mid-2021, followed by an FDA submission. CEO Will McGuire expresses optimism about the progress and dedication to quality enhancements.
Ra Medical Systems, Inc. (NYSE American: RMED) announces its participation in the H.C. Wainwright Virtual BioConnect Conference. Management will present on the company's excimer laser systems, aimed at treating vascular and dermatological diseases.
The presentation is available for registration on the conference website from January 11, 2021, 6:00 a.m. ET to January 14, 2021, 9:00 p.m. ET. Ra Medical's DABRA and Pharos systems are FDA-cleared and manufactured in California, focusing on chronic total occlusions and various skin conditions.
Ra Medical Systems (NYSE American: RMED) announced a settlement with the U.S. Department of Justice regarding civil False Claims Act claims related to its DABRA laser system. The company will pay $2.5 million immediately and may owe up to $3.25 million more if revenue exceeds $10 million over the next four fiscal years. Additionally, a change-in-control transaction could incur up to $28 million in settlement payments. A five-year Corporate Integrity Agreement has also been established. The company emphasizes its commitment to compliance and advancing treatments for vascular and dermatological diseases.
Ra Medical Systems, Inc. (NYSE: RMED) has announced its common stock will be listed on the NYSE American starting December 22, 2020. This transfer from the New York Stock Exchange is seen as a better fit for the company's capital structure. CEO Will McGuire emphasized the importance of maintaining a long-term relationship with the NYSE. Ra Medical focuses on excimer laser systems for treating vascular and dermatological conditions, with FDA-cleared products like the DABRA and Pharos excimer laser systems.
Ra Medical Systems (NYSE: RMED) has launched a webcast titled The Inimitable Role of Excimer Lasers During the COVID-19 Pandemic. The event features Dr. Theodore J. Daly, discussing the efficacy of excimer lasers in treating psoriasis amid the pandemic. He highlights the safety of using excimer lasers over immunosuppressive agents, citing significant success in patient outcomes. Ra Medical manufactures excimer lasers for dermatological conditions and is committed to informing healthcare professionals about innovative treatment options during challenging times.
FAQ
What is the market cap of Ra Medical Systems (RMED)?
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What is VIVO?
What recent milestone has Ra Medical achieved with VIVO?
What is the LockeT device?
When is Ra Medical changing its name to Catheter Precision, Inc.?
What diseases does the Pharos Excimer Laser treat?
What are the benefits of using VIVO in ventricular ablations?
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What is the significance of the DABRA Catheter and Laser?
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