Home Trending Stocks Here is why Acutus Medical Inc. (AFIB) commenced the new week in...

Here is why Acutus Medical Inc. (AFIB) commenced the new week in a negative mode?

Acutus Medical Inc. (AFIB) shares plunged 8.50% in after-hours on Monday, July 12, 2021, and closed at $14.10 per share. Earlier in the morning session, AFIB’s stock lost 0.45% to close Monday’s session at $15.41. AFIB shares have moved down 9.19% in the past week. Over the past three months, the stock has gained 23.58%, while over the past six months, it has lost 52.64%.

>> 7 Top Picks for the Post-Pandemic Economy << 

Let’s discuss its recent news and developments.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Proposed Public Offering of Common Stock

On July 12, 2021, Acutus Medical, Inc commenced an underwritten public offering of 5,500,000 shares of its common stock. All of the shares of common stock are being offered by Acutus. The underwriters can buy additional 825,000 shares of its common stock within 30 days.

Read More

Recent Preliminary financial results announcement

On July 12, 2021, Acutus Medical, Inc announced its preliminary unaudited results for the second quarter of 2021.

Q2 2021 financial highlights

  • The company is expecting preliminary net sales in the range of $4.6 to $4.7 million in Q2 2021 compared to $1.1 million in the same quarter last year.
  • The GAAP-operating loss is expected to be between $27.0 million and $29.0 million for Q2 2021 compared to an operating loss of $19.5 million for the quarter ended June 30, 2020.
  • As of June 30, 2021, the Company’s estimate of its cash, cash equivalents, and marketable securities were approximately $81 million.

Green Signal from FDA to Start AcQBlate Atrial Fibrillation Trial

On May 27, 2021, Acutus Medical received FDA approval for the company to initiate its Atrial Fibrillation (AF) Investigational Device Exemption (IDE) clinical trial for the AcQBlate Force Sensing Ablation Catheter and System.

It is expected that the AF ablation procedures total approximately 190,000 per year and are projected to reach 375,000 annually by 2025in the United States.

This trial is expected to enrol 350 subjects in leading centres globally and will evaluate the safety and efficacy of the system in the treatment of both paroxysmal and persistent atrial fibrillation.

Participation in the recent conference

Acutus Medical recently participated in the 41st Annual William Blair Growth Stock Conference which held on Thursday, June 3, 2021, at 12:20 p.m. Eastern Time.

Q1 2021 financial highlights

on May 12, 2021, the company announced its financial results for Q1 2021 which ended on March 31, 2021.

  • Acutus Medical reported revenue of $3.6 million in the first quarter of 2021, compared to $1.6 million in Q1 2020.
  • On a GAAP basis, the gross margin was negative 94% in Q1 2021 compared to a negative 102% in Q1 2020.
  • GAAP-operating expenses were $24.5 million in Q1 2021 compared to $16.0 million in the same quarter last year.
  • The company suffered a non-GAAP net loss of $27.3 million, or $0.97 per share in Q1 2021 compared to $19.0 million, or $1.11 per share in Q1 2020.

    >> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

The AFIB stock plummeted on Monday after the company announced the public offering of its common stock. The AFIB stock price can further slide down in the coming days.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Cocrystal Pharma Inc. (COCP) stock soars during current market. Here’s what you should know

Cocrystal Pharma Inc. (NASDAQ: COCP) stock gains by 17.44% in the current market trading session. Cocrystal Pharma, Inc. is a clinical-stage biotechnology firm focused...

Why did Corvus Pharmaceuticals Inc. (CRVS) stock soar on Wednesday?

Corvus Pharmaceuticals Inc. (CRVS) shares surged 9.17% in after-hours on Wednesday, July 28, 2021, and closed the daily trading at $2.38. in the regular...

Havertys Furniture Companies Inc. (HVT) stock gains during after-hour trading, Here’s to know why?

Havertys Furniture Companies Inc. (NASDAQ: HVT) stock declined by 0.39% at last close whereas the HVT stock price gains by 4.6% in the after-hours...

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Flora Growth Corp. (FLGC) stock declines during premarket. Here’s what you should know?

Flora Growth Corp. (NASDAQ: FLGC) stock gained by 49.67% at last close whereas the FLGC stock price plunged by 18.36% in the pre-market trading...

Cocrystal Pharma Inc. (COCP) stock soars during current market. Here’s what you should know

Cocrystal Pharma Inc. (NASDAQ: COCP) stock gains by 17.44% in the current market trading session. Cocrystal Pharma, Inc. is a clinical-stage biotechnology firm focused...

Annovis Bio Inc. (ANVS) stock plunged during current market. Here’s the update

Annovis Bio Inc. (NASDAQ: ANVS) stock declined by 51.30% in the current market trading session. Annovis Bio based in Berwyn, Pennsylvania, is a clinical-stage...

Farmmi Inc. (FAMI) stock soars during pre-market. What has been happening lately?

Farmmi Inc. (NASDAQ: FAMI) stock gained by 2.1% at last close, while the FAMI stock price rises further by 1.5% in the pre-market trading....

Related News

Cocrystal Pharma Inc. (COCP) stock soars during current market. Here’s what you should know

Cocrystal Pharma Inc. (NASDAQ: COCP) stock gains by 17.44% in the current market trading session. Cocrystal Pharma, Inc. is a clinical-stage biotechnology firm focused...

Why did Corvus Pharmaceuticals Inc. (CRVS) stock soar on Wednesday?

Corvus Pharmaceuticals Inc. (CRVS) shares surged 9.17% in after-hours on Wednesday, July 28, 2021, and closed the daily trading at $2.38. in the regular...

Havertys Furniture Companies Inc. (HVT) stock gains during after-hour trading, Here’s to know why?

Havertys Furniture Companies Inc. (NASDAQ: HVT) stock declined by 0.39% at last close whereas the HVT stock price gains by 4.6% in the after-hours...

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Flora Growth Corp. (FLGC) stock declines during premarket. Here’s what you should know?

Flora Growth Corp. (NASDAQ: FLGC) stock gained by 49.67% at last close whereas the FLGC stock price plunged by 18.36% in the pre-market trading...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam