Asensus Surgical Inc. (NASDAQ: ASXC) stock gains by 5.42% in the pre-market trading session. Asensus Surgical is digitizing the surgeon-patient interaction to usher in a new age of Performance-Guided Surgery by unlocking clinical knowledge to allow consistently higher results and a new surgical standard.
What’s happening?
The Oppenheimer MedTech, Tools & Diagnostics Summit will be held on May 26, 2021 i-e today where Anthony Fernando, President and Chief Executive Officer, and Shameze Rampertab, Executive Vice President and Chief Financial Officer will participate.
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Recent Past Development
Financial Highlights
On May 12, 2021, Asensus Surgical announced its first-quarter 2021 financial results. Given below is the summary:
- The revenue generated for the first quarter 2021 was $2.1 million relative to $o.6 million for the same timeframe in 2020. The revenue incorporated $1.3 million in Senhance system revenue, $0.4 million in instruments and accessories, and $0.4 million in services.
- Total gross operating expenses was calculated as $14.4 million compared to $16.0 million for the first quarter of 2020.
- The net loss totaled by the end of the first quarter of 2021 was $17.3 million or $0.08 per share whereas the net loss attributed for the first quarter 2020 was $17.0 million or $0.59 per share.
- The adjusted net loss for the three months ended March 31, 2021, was $12.2 million, or $0.06 per share, relative to $12.0 million, or $0.41 per share, for the first quarter 2020.
2021 Expectations
ASXC expects to deploy 10 to 12 new Senhance Surgical Systems for the whole year of 2021.
ASXC anticipates achieving the following regulatory milestones in the second quarter of 2021:
- For the next wave of ISU features, apply for FDA 510(k) authorization.
ASXC aims to publish clinical studies in peer-reviewed publications on the following topics in the second half of 2021:
- In General Surgery and Gynecology, there is health economic evidence comparing Senhance, robotics, and laparoscopy.