Seeking Alpha

Stereotaxis releases prelim Q3 results, gets C2 classification for Niobe in Japan

  • Stereotaxis (STXS +52.4%) is off to the races today after announcing preliminary Q3 results ahead of a rights offering.
  • Revenues are expected to come in at $10.6-11.1M (system revenue of $4.4-4.6M and recurring revenue of $6.2-6.5M).
  • STXS reports one new Niobe system order and an estimated capital backlog of $5.2-5.6M.
  • "While we continued to be challenged to grow utilization, we believe our release of the Vdrive with V-Sono system in the U.S. and full entry of the Niobe platform into the Japan market ... provide us with potentially significant growth opportunities," interim CEO William Mills says. (PR)
  • Speaking of Niobe and Japan, the country's Ministry of Health, Labor and Welfare has given the system a C2 classification, "the highest of five reimbursement categories for medical devices in Japan."
  • A temporary technical fee for Niobe procedures is set at $3,500 (permanent fee to be determined in April 2014). (PR)
Comments (1)
  • stockahead
    , contributor
    Comments (44) | Send Message
    this stock is simply incredible. If you want to play with fire - here it is.
    24 Oct 2013, 03:27 AM Reply Like
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