Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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5. NuVasive wins CMS add-on payment for Magec growth mod system
NuVasive Inc. said today the Centers for Medicare and Medicaid Services granted a new technology add-on payment for magnetically controlled growth rods, including the company’s Magec system.
The San Diego, Calif.-based company touted its Magec system as the only magnetically controlled growth modulation system cleared by the FDA for pediatric spinal deformity. Read more
4. Masimo shares surge on beat-and-raise Q2
Masimo today released 2nd quarter earnings that topped the street and send shares skyward in early morning trading.
The Irvine, Calif.-based company reported profits of $30 million, or 57¢ per share, on sales of $164.6 million for the 3 months ended July 2. The company topped expectations from Wall Street, who were looking for earnings per share of 40¢ and revenue of $163.6 million. Read more
3. Ocular Therapeutix updates on Dextenza NDA, hopeful for resubmission
Ocular Therapeutix said today it received a complete response letter from the FDA covering the New Drug Application for Dextenza and updating that the company is hopeful it can resubmit the application “as soon as possible.”
Ocular Therapeutix’s Dextenza, formerly known as OTX-DP, is designed to deliver sustained dosage of dexamethasone over 4 weeks using a hydrogel plug inserted into a tear duct. The plug then dissolves and is flushed from the body as tears. Read more
2. Insulet Q2 tops the street, lifts guidance
Insulet posted Street-beating numbers for its 2nd quarter, topping revenue and earnings per share expectations and lifting its full year guidance.
The Billerica, Mass.-based company reported losses of $4.2 million, or 8¢ per share, on sales of $87.3 million for the 3 months ended June 30. That amounts to a 72.8% decrease in losses as sales grew a significant 44.2% compared with the same period in 2015. Read more
1. BD lowers outlook on Q3 earnings post
Becton Dickinson & Co. today posted 3rd quarter earnings that topped Wall Street’s expectations and saw sales grow massively, but lowered its overall revenue outlook and saw shares shrink in response.
The Franklin Lakes, N.J.-based company reported profits of $390 million, or $1.80 per share, on sales of $3.2 billion for the 3 months ended June 30. Read more
The post MassDevice.com +5 | The top 5 medtech stories for August 4, 2016 appeared first on MassDevice.
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