Global leader in robotic technologies for the treatment of cardiac arrhythmias, Stereotaxis, Inc. (OTCMKTS:STXS), announced that they have received from the Chinese government their second patent.
- LOUIS, Oct. 13, 2016 (GLOBE NEWSWIRE) — Stereotaxis, Inc. (STXS), a global leader in innovative robotic technologies for the treatment of cardiac arrhythmias, today announced that the State Intellectual Property Office of the People’s Republic of China has awarded a patent protecting the Company’s Vdrive® robotic navigation system with V-Loop™ variable loop catheter manipulator. The patent is the second awarded to Stereotaxis in China for its Vdrive system and related disposable devices. The first patent covered the Company’s V-CAS™ and V-CAS Deflect™ catheter advancement systems, and its V-Sono™ ICE catheter manipulator, as well as all device interfaces and methods.
“We continue to generate strong growth in the Asia Pacific market, which improved procedure volume by 65% in the first half of 2016 over the same period last year and now comprises nearly 10% of our worldwide procedures,” said William C. Mills, Stereotaxis Chief Executive Officer. “The market in China represents significant potential for our remote, robotic technologies and this patent reflects the further expansion of our proprietary technology designed to achieve greater safety, single operator efficiencies and improved patient outcomes in cardiac ablations.”
Employed in conjunction with the Stereotaxis Niobe® ES magnetic navigation system, the V-Loop system remotely controls the advancement, retraction, rotation, tip deflection and loop size of a compatible circular mapping catheter, which is used in over 60,000 complex ablation procedures worldwide each year. Its unique design enables a single operator to remotely control both the ablation catheter and circular mapping catheter and to do so with greater stability and maneuverability of the circular mapping catheter, supporting improved procedure results.
Stereotaxis is a healthcare technology and innovation leader in the development of robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease, as well as information management solutions for the interventional lab. Over 100 issued patents support the Stereotaxis platform, which helps physicians around the world provide unsurpassed patient care with robotic precision and safety, improved lab efficiency and productivity, and enhanced integration of procedural information. Stereotaxis’ core Epoch® Solution includes the Niobe® ES remote magnetic navigation system, the Odyssey® portfolio of lab optimization, networking and patient information management systems, and the Vdrive® robotic navigation system and consumables.
The core components of Stereotaxis’ systems have received regulatory clearance in the United States, European Union, Canada, China, Japan, and elsewhere. The V-Sono™ ICE catheter manipulator, V-Loop™ variable loop catheter manipulator, and V-CAS™ catheter advancement system have received clearance in the United States, Canada, and the European Union. The V-CAS Deflect™ catheter advancement system has been CE Marked for sale in the European Union. For more information, please visit www.stereotaxis.com.
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe”, “estimate”, “project”, “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s ability to raise additional capital on a timely basis and on terms that are acceptable, its ability to continue to manage expenses and cash burn rate at sustainable levels, its ability to continue to work with lenders to extend, repay or refinance indebtedness, or to obtain additional financing, in either case on acceptable terms, continued acceptance of the Company’s products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase its systems and the timing of such purchases, competitive factors, changes resulting from healthcare reform in the United States, including changes in government reimbursement procedures, dependence upon third-party vendors, timing of regulatory approvals, and other risks discussed in the Company’s periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments in any particular period or at all because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company’s control. In addition, these orders and commitments may be revised, modified, delayed or canceled, either by their express terms, as a result of negotiations, or by overall project changes or delays.
Stereotaxis, Inc. (OTCMKTS:STXS) shares are trading -0.26% on the news and in the range of $0.81 – 0.88 during the current trading session. When taking a look at which direction the stock might be headed, investors often look to brokerage analysts who cover the stock. Sell-side research firms on Wall Street currently have a consensus one-year price target of $6.00 on the stock. This is according to brokerage analysts polled by Thomson Reuters First Call.
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Sell-side analysts are projecting earnings per share of $0.00 for the next fiscal quarter. For the current year, analysts are predicting earnings of $-2.03 per share according to First Call.
In looking at where the stock is trading on a technical level, the stock is trading +17.17% away from its 50 day moving average of $0.73. Based on the most recent available data, the equity is -55.90% off of its 52-week high of $1.95 and +59.26% away from its 52-week low which is $0.54
Today, the stock opened at $0.88 and the last bid at the time of writing stood at $0.86. During the session thus far, the equity dipped down to $0.81 and touched $0.88 as the high point. Stereotaxis, Inc. (OTCMKTS:STXS) has a market cap of $18.79M and has seen an average daily volume of 81185 over the past three months.
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