Wed, May 18, 12:46 PM
Wed, May 18, 9:15 AM
Wed, May 18, 8:13 AM
- Thinly traded micro cap Mazor Robotics (NASDAQ:MZOR) jumps 23% premarket on light volume in response to its announcement that it has entered into a commercial agreement with Medtronic plc (NYSE:MDT) for the co-promotion, co-development and potential global distribution of certain Mazor products. In a separate agreement, Medtronic has agreed to make an equity investment in the company.
- The commercial deal specifies an initial U.S.-based co-promotion phase. If both companies achieve their respective milestones by the end of 2017, then Medtronic will assume exclusive global sales and distribution rights for Mazor's future spine products, of which Medtronic has committed to buy 15 before the end of this year. The agreement also specifies that Mazor will be Medtronic's sole strategic partner for the development and commercialization of robotic spine systems and applications.
- Medtronic will make an initial $11.9M equity investment in Mazor representing a 4% stake at a price per share equal to the trailing 20-day volume-weighted average price. If Mazor achieves certain operational milestones, Medtronic will invest an additional 6%. If other conditions are met, including the commencement of the Global Distribution Agreement, Medtronic will increase its investment a further 5%. Medtronic, at its sole discretion, may cap the second and third tranches at $20M each.
- Mazor's lead product is Renaissance, a guidance system used by surgeons in spine surgery.
- Mazor will host a conference call this morning at 10:00 am ET to discuss the deal.
Tue, Jan. 5, 7:44 AM
- Thinly traded micro cap Mazor Robotics (NASDAQ:MZOR) is up 6% premarket on light volume in response to its announcement that it booked a record 12 orders for its Renaissance system in Q4, raising its total for the year to 25 (+25% yoy).
- The company expects Q4 and 2015 revenues to come in at ~$8.8M and ~$26M, respectively.
- Renaissance is a guidance system that surgeons use in spine surgery.
Jul. 7, 2015, 7:08 AM| Jul. 7, 2015, 7:08 AM | 1 Comment
Dec. 9, 2014, 12:45 PM
Dec. 9, 2014, 9:09 AM
Dec. 9, 2014, 8:45 AM
- Mazor Robotics' (NASDAQ:MZOR) China distributor Cicel Science & Technology Co. Ltd., issues a purchase order for two Renaissance systems. This represents the first orders in the country since the China Food and Drug Administration's marketing approval in September.
- The company also received a purchase order for one system from its Taiwan distributor Pinnaclemed Co. Ltd.
- MZOR shares are up 8% premarket on modest volume.
May 7, 2014, 8:36 AM| May 7, 2014, 8:36 AM
Oct. 21, 2013, 8:36 AM
- Mazor Robotics (MZOR) -6,5% premarket after announcing a public offering of 2M shares and guiding Q3 revenues below consensus expectations.
- MZOR sees Q3 revenue of ~$3M vs. $5M consensus and $4.1M in the year-ago quarter, the company says it sold two Renaissance systems and one system upgrade compared to five systems during Q3 2012.
Mazor Robotics Ltd. is a medical device company, which engages in the development and marketing of innovative surgical guidance systems and complementary products. It specializes in robotic, computerized and imaging-based systems, primarily in the field of spine surgery. Its flagship product,... More
Other News & PR