Ra Medical Systems (RMED) Tops Q4 EPS by 43c, Revenues Miss

Ra Medical Systems (NYSE: RMED) reported Q4 EPS of ($0.72), $0.43 better than the analyst estimate of ($1.15). Revenue for the quarter came in at $1.4 million versus the consensus estimate of $2.05 million.

Recent Operational Highlights

• Enrolled the first patient in a pivotal study to evaluate the safety and effectiveness of the DABRA excimer laser system for use as an atherectomy device for the treatment of peripheral artery disease.
• Appointed Chris Folk, PhD, as Vice President of Engineering, who brings more than 20 years of engineering experience primarily in medtech, with highly relevant expertise in engineering transformational products and bringing game-changing medical devices to market.
• Filed a provisional U.S. patent for a braided overjacket to the DABRA catheter shaft, designed to make the catheter less prone to kinking.
• Showcased the Pharos, Optimized Dermatology Excimer Laser at the 16th Annual Maui Derm for Dermatologists 2020 and the Skin Disease Education Foundation\'s 44th Annual Hawaii Dermatology Seminar.

“We remain excited about the opportunity we see for the DABRA excimer laser system in the large and growing market for treating vascular disease. Our system provides physicians with a minimally invasive approach to treat lower extremity vascular blockages by breaking down plaque into its fundamental chemical compounds using a photoablative mechanism of action,” said Andrew Jackson, Ra Medical Systems CFO and Interim CEO. ”We are working to improve our catheter shelf life and are developing a rapid exchange platform that will allow users to advance DABRA over a guidewire to navigate the vasculature more easily. We believe our engineering and clinical efforts are key to allowing us to reach a broader market with DABRA and building long-term shareholder value.”

For earnings history and earnings-related data on Ra Medical Systems (RMED) click here.

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