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Minerva Surgical, Inc. (Nasdaq: UTRS) is a pioneering medical device company dedicated to advancing women's health care, headquartered in Redwood City, CA, within the heart of Silicon Valley. Founded in 2008 by a team of medical device industry veterans, Minerva Surgical focuses on creating next-generation products to address abnormal uterine bleeding (AUB), a condition impacting nearly 1 in 5 women.
With over three decades of combined experience, the founders of Minerva Surgical have successfully brought numerous medical device therapies to market. Their expertise has culminated in a broad product line of minimally invasive solutions designed to serve as alternatives to hysterectomy. These products aim to preserve the uterus and minimize the drawbacks associated with other treatment methods.
Minerva Surgical's flagship products, such as Symphion and Minerva ES, have shown significant market traction, backed by positive feedback from physician partners. Despite challenges, the company reported a steady revenue increase of 3% for the second quarter of 2023, reaching $13.4 million, compared to $13.0 million in the same quarter of 2022. This growth was driven by a 7% increase in sales of Symphion and Minerva ES, even as Genesys HTA sales declined.
However, the gross margin for the second quarter fell to 55.3%, down from 59.0% in the previous year, primarily due to direct cost increases and a shift in product mix. Operating expenses rose to $15.1 million, attributed mainly to a $3.9 million non-cash reduction in fair value of contingent consideration from the Boston Scientific product acquisition. Despite these financial challenges, Minerva Surgical's commitment to innovation and quality remains steadfast.
Looking ahead, the company anticipates annual revenue for fiscal year 2023 to be between $52 to $55 million, maintaining a consistent financial outlook. Minerva Surgical continues to leverage its commercial team and robust product offerings to support both surgeons and patients, striving for long-term growth and excellence in women's health.
For more information, please visit the Minerva Surgical website or contact their media and investor relations teams.
Minerva Surgical, a woman's health company focused on Abnormal Uterine Bleeding, announced its participation in two upcoming investor conferences. The H.C. Wainwright Global Investment Conference will feature an on-demand presentation available from 7:00 a.m. ET on May 24, 2022. Additionally, the UBS Global Healthcare Conference 2022 will host a live presentation on May 25, 2022, at 7:45 a.m. ET in New York. Audio webcasts and replays can be accessed via the Minerva website. The company develops minimally invasive solutions to address uterine healthcare needs.
Minerva Surgical, Inc. (Nasdaq: UTRS) has announced the release of its first quarter 2022 financial results scheduled for May 11, 2022. The company specializes in treating Abnormal Uterine Bleeding (AUB) and will hold a conference call at 1:30 p.m. PT to discuss these results and recent highlights. Interested participants can join the call via telephone or through a live webinar accessible on the company's website. Minerva Surgical focuses on minimally invasive solutions for women's uterine healthcare needs, providing alternatives to hysterectomies for treating AUB.
Minerva Surgical, a women’s health company, announces the first-ever AUB Awareness Day on May 18, 2022, to highlight Abnormal Uterine Bleeding (AUB), affecting 1 in 3 women. The event aims to encourage discussions about this prevalent condition, which often leads to hysterectomies. CEO Dave Clapper emphasizes the importance of women talking openly about their menstrual health. Attendees can join the conversation using #AUBAwareness and visit aubandme.com for resources on symptoms and treatment options.
Minerva Surgical, Inc. (Nasdaq: UTRS) reported its Q4 and full-year 2021 financial results, showing revenue of $13.65 million in Q4, a slight increase from $13.55 million in Q4 2020. The company also posted a full-year revenue of $52.1 million, up from $37.8 million in 2020. Operating expenses rose to $14.5 million in Q4, significantly impacting net profit, which was reported at $10.8 million due to non-recurring income. Looking ahead, Minerva expects 2022 revenue between $60 million and $63 million as the market stabilizes post-COVID.
Minerva Surgical, a company specializing in women's health, has announced the release of its fourth quarter and full-year 2021 financial results on March 8, 2022. The event will include a conference call at 1:30 p.m. PT to discuss the results and recent business highlights. The company focuses on minimally invasive solutions for Abnormal Uterine Bleeding, aiming to provide alternatives to hysterectomy and address uterine healthcare needs. Access to the call will be available via telephone and online streaming.
Minerva Surgical (Nasdaq: UTRS) announced its management will present at the 11th Annual SVB Leerink Global Healthcare Conference on February 16, 2022, at 3:40 p.m. ET. The presentation will focus on solutions for Abnormal Uterine Bleeding (AUB), highlighting the company’s commitment to developing minimally invasive options for women's uterine health.
A live audio webcast will be available through Minerva's website. The company specializes in offering alternatives to hysterectomy, emphasizing the importance of preserving the uterus while addressing AUB.
Minerva Surgical, Inc. (Nasdaq: UTRS) has announced preliminary revenue expectations for the fourth quarter and full year 2021, predicting revenues between $13.5M - $13.7M for Q4 and $52.0M - $52.2M for the full year, up from $13.6M and $37.8M respectively in 2020. The company ended 2021 with over $40M in cash following its IPO in October 2021. Additionally, Minerva has refinanced existing debt, reducing capital costs significantly. CEO David M. Clapper expressed optimism about revenue growth despite challenges from COVID-19.
Minerva Surgical, a company focused on women's health, will present at the 40th Annual J.P. Morgan Healthcare Conference on January 12, 2022, at 11:15 a.m. ET. The presentation will address strategies for treating Abnormal Uterine Bleeding (AUB). A live audio webcast will be available on Minerva's website for 30 days following the event.
Minerva specializes in minimally invasive surgical solutions aimed at reducing the need for hysterectomies and addressing common causes of AUB, offering alternatives tailored to women's distinct healthcare needs.
Minerva Surgical, Inc. (Nasdaq: UTRS) reported third quarter 2021 revenues of $12.5 million, a slight increase from $12.3 million in Q3 2020. For the nine-month period ended September 30, 2021, revenues surged by 58.8% to $38.5 million compared to $24.2 million in the same period last year. The net loss narrowed to $3.2 million, or $1.15 per share, from $7.3 million in Q3 2020. The Company anticipates full-year 2021 revenue between $51.0 million and $52.0 million. Recent highlights include an IPO raising $69.8 million and a refinancing of debt to reduce interest costs.
Minerva Surgical (Nasdaq: UTRS), a company focused on women’s health, announced its participation in the 33rd Annual Piper Sandler Virtual Healthcare Conference on December 1st. This event will showcase the company’s innovations in treating Abnormal Uterine Bleeding (AUB). Interested parties can access the archived presentation for 90 days post-conference via Minerva's website.
Minerva specializes in minimally invasive solutions, aiming to reduce the need for hysterectomies by addressing common AUB issues.
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