Soliton (SOLY) Tops Q4 EPS by 1c

March 4, 2021 4:34 PM EST
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Price: $16.18 -1.76%

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Soliton (NASDAQ: SOLY) reported Q4 EPS of ($0.22), $0.01 better than the analyst estimate of ($0.23).

Brad Hauser, Soliton's President and CEO, commented, "Despite the challenges presented by 2020, this was a transformative year for the Company, which has positioned us for long-term success and the upcoming initial launch of our RAP device in cellulite reduction and tattoo removal during the second quarter of 2021. We are extremely encouraged by the progress we made in preparation for our upcoming initial launch, as we received FDA 510(k) clearance for the RAP device in cellulite, bolstered our sales team by hiring aesthetic veteran Sean Shapiro as VP of Sales, and initiated the transition to manufacturing with our manufacturing partner. I am very excited to share that we have selected RESONICâ„¢ as the brand name for our RAP device, which we believe captures our technology's foundation in sound and will provide a true identity for our technology with customers and consumers. While ensuring a successful initial launch remains our key priority, we are also encouraged by the promise our RAP device has demonstrated in selected adjacent indications, such as fibrotic scars and liver fibrosis. 2021 will be a pivotal year for the Company as we transition to a commercial company. We look forward to launching our RESONICâ„¢ device in cellulite reduction and tattoo removal and driving its clinical progress across adjacent indications with our goal of delivering shareholder value."

For earnings history and earnings-related data on Soliton (SOLY) click here.

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