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Here is why Repro Med Systems Inc. (KRMD) stock had a good Tuesday?

Repro Med Systems Inc. (KRMD) shares soared 7.84% in after-hours on Tuesday, December 21, 2021, and closed the daily trading at $3.30. Even in the regular trading session, KRMD’s stock gained 0.99%. Repro shares have fallen 50.80% over the last 12 months, and they have moved up 3.03% in the past week. Over the past three months, the stock has lost 0.33%, while over the past six months, it has plunged 24.44%.

Let’s discuss its recent news and developments.

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KRMD received FDA clearance for FREEDOM60

On December 21, 2021, Repro Med Systems, Inc. (KRMD) announced FDA 510(k) clearance that expands on-label use of the FREEDOM60 Infusion System to two additional subcutaneous Ig (SCIg) medications, Cutaquig®, manufactured by Octapharma, and Xembify®, manufactured by Grifols.

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KRMD hosted an investor day

Repro Med Systems, Inc. (KRMD) hosted an investor day on Thursday, December 9, 2021, and provided an update to its strategic plan.

FDA Clearance for Hizentra Prefilled Syringes

On November 10, 2021, Repro Med Systems, Inc. (KRMD) received 510k clearance for use of the KORU Medical FreedomEdge® infusion pump to deliver Hizentra® [immune globulin subcutaneous (human) 20% liquid] 20 mL prefilled syringes. Hizentra® is the most prescribed subcutaneous Ig product and the first to be available in a prefilled syringe format.

KRMD latest financial results

On November 10, 2021, Repro Med Systems, Inc. (KRMD) announced its financial results for the third quarter of 2021 which ended on September 30, 2021.

Q3 2021 financial highlights

KRMD collaboration with Gilero

On November 08, 2021, Repro Med Systems, Inc. (KRMD) announced its collaboration with Gilero, a medical device design, and manufacturing company. The collaboration is part of KORU Medical’s strategic focus on innovation as the Company expands and evolves its at-home infusion products and portfolio.

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Conclusion

The recent FDA clearance for FREEDOM60 was the reason behind its good performance on Tuesday and we can expect it to continue its momentum on Wednesday as well.

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