Spectranetics Has Multiple Attractive Opportunities, But Will They Execute?
Stephen Simpson, CFA
Stephen Simpson, CFA
Yesterday, 4:03 PM
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Mon, Feb. 8, 12:57 PM
- The FDA issues 510(k) clearance for Spectranetics' (SPNC -1.4%) Bridge Occlusion Balloon for temporary vessel occlusion in cardiac lead extraction procedures. The device is designed to significantly reduce blood loss in the rare event of a tear, including the superior vena cava (SVC), providing a bridge to surgical intervention.
- A tear in the SVC occurs in less than 1% of lead extraction procedures. If one does occur, the Bridge Occlusion Balloon and stop up to 90% of the blood loss for at least 30 minutes.
Dec. 7, 2015, 4:31 PM
- Spectranetics (NASDAQ:SPNC) establishes a new $110M credit facility led by Midcap Financial and Silicon Valley Bank. The facility, consisting of a $60M term loan and $50M revolving line of credit, is structured to provide sufficient liquidity through the U.S. launch of the Stellarex drug-coated balloon and beyond. It replaces the company's previous credit facility with Wells Fargo Bank.
- The 60-month term loan is interest-only for the first 24 months with an option to extend an additional 12 months contingent on the achievement of certain targets. The interest rate is Libor plus 7.50%. Borrowings under the revolver will bear interest at Libor plus 4.45%.
- The company purchased Stellarex for $30M from Covidien in November 2014.
- Previously: Spectranetics buys Covidien's DCB platform (Nov. 3, 2014)
Oct. 23, 2015, 12:46 PM
Oct. 23, 2015, 10:23 AM
- The Spectranetics (SPNC +16%) Q3 results: Revenues: $61.7M (+4.9%); COGS: $15.8M (+7.5%); R&D Expense: $15.9M (+109.2%); SG&A: $34.1M (-3.9%); Operating Loss: ($12.4M) (-5.1%); Net Loss: ($14.5M) (-4.3%); Loss Per Share: ($0.34) (-3.0%); Quick Assets: $41.7M (-56.3%); CF Ops: ($10.2M) (-200.0%).
- 2015 Guidance: Revenue: $242M - 248M from $240M - 250M; Net Loss: ($65M) - ($69M) (unch); Net Loss Per Share: ($1.53 - $1.62) (unch); Non-GAAP net loss: ($40M) - ($44M) from ($41M) - ($45M); Non-GAAP net loss per share: ($0.94 - $1.04) from ($0.96 - $1.07).
Oct. 22, 2015, 4:14 PM
- The Spectranetics (NASDAQ:SPNC): Q3 EPS of -$0.17 beats by $0.09.
- Revenue of $61.7M (+4.9% Y/Y) beats by $1.83M.
- Shares +6.4%.
Oct. 21, 2015, 5:35 PM
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Aug. 21, 2015, 10:16 AM
- Evoke Pharma (EVOK +2.7%) initiated with Buy rating and $13 (197% upside) price target by Brean Capital.
- Biocept (BIOC +7.5%) initiated with Buy rating and $4 (86% upside) price target by H.C. Wainwright.
- Juno Therapeutics (JUNO -3.8%) initiated with Outperform rating and $73 (94% upside) price target by FBR.
- Neos Therapeutics (NEOS -2.1%) initiated with Outperform rating and $35 (52% upside) price target by RBC Capital Markets.
- Trovagene (TROV +1.3%) initiated with Outperform rating and $9 (64% upside) price target by Leerink.
- AMAG Pharmaceuticals (AMAG -0.4%) upgraded to Buy from Restricted with a price target of $80 (31% upside) by Jefferies.
- Spectranetics (SPNC -0.4%) upgraded to Strong Buy from Buy with a $24 (46% upside) price target by Needham.
Jul. 24, 2015, 12:45 PM
Jul. 24, 2015, 9:36 AM
- The Spectranetics (SPNC -35.4%) Q2 results: Revenues: $61.7M (+41.5%); COGS: $15.9M (+51.4%); R&D Expense: $16.7M (+193.0%); SG&A: $35.6M (+24.9%); Operating Loss: ($5.3M) (+8.6%); Net Loss: ($7.2M) (-35.8%); Loss Per Share: ($0.17) (-30.8%); Quick Assets: $49.3M (-48.4%); CF Ops: ($10.1M) (-818.2%).
- 2015 Guidance: Revenue: $240M - $250M; Net Loss: ($65M) - ($69M) from ($78M) - ($82M); Net Loss Per Share: ($1.53 - $1.62) from ($1.84 - $1.93); Non-GAAP net loss: ($41M) - ($45M) (unch); Non-GAAP net loss per share: ($0.96 - $1.07) (unch).
Jul. 23, 2015, 5:43 PM
The Spectranetics Corp. is a medical device company that develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. Its products are used to treat arterial blockages in the heart and legs as well as the... More
Industry: Medical Appliances & Equipment
Country: United States
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