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Here is why RA Medical Systems Inc (RMED) stock turnaround on Wednesday?

DNAY Stock

DNAY Stock

Ra Medical Systems Inc. (RMED) shares gained 10.71% in the after-market on Wednesday, April 28, 2021, after losing 3.97% in the morning session to close at $4.11. RMED shares have sink 84.04% over the last 12 months, and they have moved up by 10.19% in the past week. Over the past three months, the stock has lost 41.29%, while over the past six months, it has shed 29.44%.

Let’s try to find out is there any reason behind its flipping on Wednesday?

Enrollment Update about the clinical trial of DABRA

On April 20, 2021, RA Medical Systems Inc reported an increase in enrollment in its pivotal clinical trial to assess the safety and effectiveness of the DABRA excimer laser system. As of April 19, 2021, a total of 42 patients have been enrolled.

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The DABRA excimer laser system received U.S. FDA 510(k) clearance in May 2017 for crossing chronic total occlusions.

Upcoming financial results announcement

On April 19, 2021, RA Medical Systems Inc said that it will release its first-quarter 2021 financial results after market close on Tuesday, May 11, 2021.

A conference call has been organized on the same day at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) to discuss financial results and provide a company update.

Q4 and FY-2020 financial results

The company filed its audited financial statements for the fiscal year ended December 31, 2020, on Form 10-Kwith the Securities and Exchange Commission on March 17, 2021.

Q4 2020 financial highlights

FY2020 financial highlights

Conclusion

There is no recent news except an update about the DABRA patient enrollment on April 20 which we do not think so is the reason behind its turnaround on Wednesday. Also, it’s hard to predict its future performance at this moment.

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