Welcome to our dedicated page for Catheter Precision news (Ticker: VTAK), a resource for investors and traders seeking the latest updates and insights on Catheter Precision stock.
Catheter Precision, Inc. (NYSE American: VTAK) is a forefront player in the medical technology field, dedicated to advancing cardiac electrophysiology. This U.S.-based company boasts a strong commitment to enhancing patient outcomes and medical procedures through its innovative product lines.
The company’s flagship products include the VIVO™ system and the LockeT™ device. The VIVO™ (View Into Ventricular Onset) system is a non-invasive 3D imaging technology that aids physicians in pinpointing the origins of ventricular arrhythmias before EP procedures. This system is instrumental in improving procedural success rates and reducing time for mapping and procedures, having received both FDA clearance and CE Mark for commercialization in the U.S. and Europe, respectively.
Catheter Precision’s LockeT™ is a suture retention device designed to assist in hemostasis following percutaneous venous punctures. As a Class 1 FDA-registered device, LockeT has the potential to become a standard in wound closure, particularly in high-volume settings such as electrophysiology, vascular surgery, and interventional radiology.
The company's commitment to growth and development is evident in its recent strategic initiatives. In March 2024, Catheter Precision sponsored a session at the Monaco USA Arrhythmia Course, showcasing its VIVO system to key opinion leaders in the field. Subsequent to this, the company reported substantial year-over-year revenue growth in its Q4 and annual financials for 2023, reflecting increased market adoption of its products.
In terms of clinical progress, Catheter Precision has concluded significant patient enrollments for its VIVO European Registry and initial clinical trials for LockeT, both showing promising data. The company continues to bolster its intellectual property, having filed 8 new patent applications and received 6 issuances over the past year. These efforts underline Catheter Precision's commitment to maintaining its competitive edge through continuous innovation.
Additionally, the company has been expanding its business development team, onboarding industry veterans to drive market penetration and sales growth. This strategic move is aligned with its goal of achieving substantial revenue milestones and positioning itself as a leader in the electrophysiology market.
As part of its recent accomplishments, Catheter Precision received its first purchase order for the LockeT device from HCA Healthcare, a significant validation of the product's value. Furthermore, the company announced the addition of Marie-Claude Jacques as the Chief Commercial Officer, bringing in extensive experience from Boston Scientific and Baylis Medical to steer commercialization efforts.
Going forward, Catheter Precision remains focused on its two core products, VIVO and LockeT, while seeking additional financing solutions to support its growth objectives. The company's strategic vision and operational execution continue to underscore its potential for significant impact in the medical technology landscape.
Catheter Precision (NYSE American:VTAK) has received its first purchase order for LockeT from Montefiore Medical Center in the Bronx, NY. This development follows the company's recent expansion of its US sales and clinical team for LockeT's national product launch. Montefiore, a premier academic medical center and primary teaching hospital of Albert Einstein College of Medicine, performs over 1,000 electrophysiology and cardiac rhythm procedures annually. The medical center is part of the Montefiore Einstein health network, which encompasses over 300 locations including 13 hospitals.
Catheter Precision (NYSE American:VTAK) reported Q3 2024 financial results and operational updates. The company has expanded its pipeline to 87 potential hospital customers, with 32 institutions in evaluation phase. Sales revenue reached $96,000 for Q3 and $271,000 for nine months ended September 30. The company reported a Q3 net loss of $4.1 million, with $1.7 million in non-cash charges. Total assets were $26.7 million with $1.3 million cash position. LockeT CE Mark completion is expected by Q1 2025, with European launch planned for Q2 2025. Clinical studies for both LockeT and VIVO products continue to show promising results.
Catheter Precision (NYSE American:VTAK) presented new clinical data from the VIVO EU Registry at the Society of Cardiac Robotic Navigation meeting in Lisbon. Professor Leonor Parreira shared final data from Hospital da Luz, involving 27 subjects, of which 18 underwent ablation procedures. The results showed 100% accurate identification of site origin, approximately 95% successful ablation procedures, and 83% of patients remained arrhythmia-free at 12 months post-ablation. The company plans to publish complete study results including data from seven additional studies.
Catheter Precision (NYSE American:VTAK) has secured $4.9 million in gross proceeds through warrant exercises. The company entered into a definitive agreement for the immediate exercise of Series E, F, G, H, and I warrants to purchase 5,347,981 shares at a reduced price of $0.70 per share, generating $3.7 million. An additional $1.185 million was received through warrant exercises in the past week. In exchange, the company will issue new unregistered Series K warrants for up to 10,695,962 shares at $0.70, exercisable after shareholder approval with a 5.5-year term.
Catheter Precision (NYSE American:VTAK) announced two presentations featuring their VIVO technology at the International Society for Cardiac Robotic Navigation Meeting in Lisbon, Portugal, October 28-29. Dr. Jack Griffiths from Royal Brompton Hospital will present on 'Robotics in VT plus non-invasive 3D mapping', focusing on time-saving data. Peter van Dam, PhD will discuss 'Non-invasive Mapping Using Individual Anatomy', highlighting VIVO's patient-specific advantages. Dr. Leonor Perriera will present updates from the VIVO European Registry, including acute success and 12-month follow-up data for ventricular ablation.
Catheter Precision, Inc. (NYSE American:VTAK) has announced a new publication in the October 2024 issue of HeartRhythm Case Reports, highlighting the use of their VIVO technology in a novel, non-invasive ablation technique called stereotactic radioablation (STAR). The procedure, which uses external photon beams to target and ablate areas of the heart responsible for arrhythmia, demonstrated success in a patient unresponsive to traditional ablation for ventricular tachycardia.
Key highlights include:
- VIVO played a fundamental role in identifying the VT origin within the scar
- VIVO provided a more precise location than traditional 12-lead ECG methods
- After a 4-month follow-up, the patient reported no new episodes of VT or heart failure
CEO David Jenkins emphasized the potential of VIVO as a non-invasive, patient-specific, pre-procedural planning tool for improving procedural outcomes in non-invasive ablation treatments.
Catheter Precision (NYSE/American:VTAK) announced its participation in the 15th International Symposium on Catheter Ablation Techniques (ISCAT) from October 16-18 in Paris, France. ISCAT is a biannual European meeting focusing on new and emerging catheter ablation technologies, techniques, and study data for atrial and ventricular arrhythmias.
CEO David Jenkins emphasized the importance of attending such meetings as part of their sales strategy, stating that it provides an opportunity to meet physicians, showcase technologies, and generate new sales leads. At ISCAT, Catheter Precision plans to demonstrate their VIVO technology and highlight recent clinical data presented at the European Society of Cardiology meeting in September, which demonstrates VIVO's value and accuracy.
Catheter Precision, Inc. (NYSE/American:VTAK), a US-based medical device company specializing in cardiac electrophysiology products, has announced its participation in the 19th annual International VT Symposium on October 11-12 in New York City. The symposium, hosted by the Hospital at the University of Pennsylvania and Mount Sinai Hospital, focuses on new management strategies for ventricular arrhythmias, including nonpharmacological therapies like implantable devices and catheter ablation techniques.
David Jenkins, CEO of Catheter Precision, emphasized the importance of this event, stating it provides an opportunity to interact with a specialized group of physicians treating ventricular arrhythmias. The company's VIVO product enables better planning of ventricular ablation procedures, potentially reducing procedural time and patient complications. Catheter Precision aims to share new data and product improvements with attendees during the symposium.
Catheter Precision (NYSE/American:VTAK) has announced updates for their VIVO non-invasive mapping system. At the European Society of Cardiology (ESC) meeting, Prof. Tarv Dhanjal presented data from a 20-patient study, showing 90% procedural success at a mean follow-up of 7.3 ± 4.7 months in patients with scar-related VT. The full study, expected to enroll 50 patients, is anticipated to conclude in 2025.
Catheter Precision will showcase VIVO at several conferences in October, including the International VT Symposium, ISCAT, and SCRN. The company is expanding its commercial footprint, with over 25 centers confirming interest and eight new centers scheduled for evaluations. Additionally, following a successful evaluation in Doha, Qatar, the hospital has acquired and installed the VIVO system, completing its first commercial procedures.
Catheter Precision, Inc. (VTAK:NYSE/American) has announced the issuance of its first LockeT patent in China. LockeT is a suture retention device used for closing percutaneous catheter access sites during various procedures, including electrophysiology, structural heart, and vascular surgery. The device is currently sold in the US and select international markets.
The company is awaiting CE mark certification, expected in Q1 2025, which will allow access to the European market. CEO David Jenkins highlighted China as a significant market for LockeT, citing its low-cost alternative status and clinical data demonstrating ease of use, patient comfort, and effectiveness in groin management, including early ambulation and same-day discharge.
FAQ
What is the current stock price of Catheter Precision (VTAK)?
What is the market cap of Catheter Precision (VTAK)?
What does Catheter Precision, Inc. specialize in?
What is the VIVO™ system?
What is the LockeT™ device used for?
Has Catheter Precision achieved any recent milestones?
What are Catheter Precision’s recent achievements in clinical trials?
Who is the new Chief Commercial Officer at Catheter Precision?
What are the key products of Catheter Precision, Inc.?
Where has the VIVO™ system been commercialized?
How is Catheter Precision expanding its market presence?
What is Catheter Precision's strategic focus moving forward?
