Welcome to our dedicated page for Acutus Medical news (Ticker: AFIB), a resource for investors and traders seeking the latest updates and insights on Acutus Medical stock.
Acutus Medical, Inc. (AFIB) generates news primarily around its focused role in surgical and medical instrument manufacturing for left-heart access products. Company announcements emphasize that Acutus is centered on the production of left-heart access products under its distribution agreement with Medtronic, Inc., and on capturing potential net-sales earnouts under an asset purchase agreement with Medtronic. News items often explain how this focused business model shapes the company’s financial performance and operational decisions.
Recent press releases have detailed Acutus’ strategic realignment of resources and corporate restructuring, including the decision to wind down its electrophysiology mapping and ablation business and classify those activities as discontinued operations. News coverage includes updates on operational downsizing, workforce reductions, and the company’s efforts to reduce cash burn and ongoing operating expenses while supporting its obligations to Medtronic.
Investors following AFIB news can expect regular financial result announcements, such as quarterly and full-year earnings releases that distinguish between continuing operations in left-heart access manufacturing and discontinued operations in the EP mapping and ablation business. These releases often discuss revenue from continuing operations, gross margin trends related to left-heart access manufacturing, restructuring impacts, and the recording of gains on sale of business tied to the Medtronic agreements.
In addition, Acutus’ news frequently includes outlook statements connected to its realigned business model, commentary from company leadership on strategic priorities, and reminders of the risks highlighted in its forward-looking statements. For those tracking AFIB, this news flow provides context on how the company’s contract manufacturing focus, Medtronic relationship, and restructuring activities influence its ongoing operations and financial profile.
Acutus Medical has launched the AcQCross™ Qx system, an integrated transseptal access product that streamlines procedures in cardiac arrhythmia treatments. This innovative system reduces the need for multiple exchanges of wires and needles, enhancing safety and efficiency during left-atrial appendage closure procedures, projected to exceed 50,000 in 2022. AcQCross provides compatibility with leading delivery systems, making it versatile for various left-heart access procedures. The entire product line is now available in the U.S.
On June 1, 2022, Acutus Medical, Inc. (Nasdaq: AFIB) granted a total of 10,000 restricted stock units (RSUs) to three new employees as part of its 2022 Inducement Equity Incentive Plan. The RSUs will vest annually over four years, contingent upon these employees maintaining their positions. This decision aligns with Nasdaq Listing Rule 5635(c)(4) and highlights Acutus's commitment to attracting talent in the electrophysiology field.
Acutus is dedicated to enhancing arrhythmia diagnosis and treatment through innovative technologies and a strong global sales presence.
Acutus Medical (Nasdaq: AFIB) has completed patient enrollment in its AcQForce Flutter IDE clinical trial, totaling 110 participants across 21 sites globally. The trial evaluates the safety and efficacy of the AcQBlate FORCE sensing ablation catheter for treating right atrial typical flutter. Catheter ablation for this condition is expected to reach 200,000 procedures annually in the US by 2025. The system, approved in Europe, aims for PMA submission in Q3 2022.
Acutus Medical, Inc. (AFIB) reported Q1 2022 revenue of $3.7 million, a slight increase from $3.6 million last year. Global mapping procedure volumes surged 27% year-over-year, marking record levels. The company completed enrollment in its PMA study for AcQBlate in right atrial flutter. Vince Burgess transitioned from CEO to advisor, with David Roman appointed as Interim CEO. Operating expenses rose to $35.4 million, driven by a $12 million goodwill impairment. GAAP net loss was $40 million, compared to a loss of $29.2 million last year. Cash reserves totaled $78.8 million.
Acutus Medical, Inc. (Nasdaq: AFIB) will announce its first quarter 2022 financial results on May 12, 2022, and will conduct a conference call at 1:30 p.m. PT to discuss these results. The call will also cover recent highlights in the company's approach to diagnosing and treating cardiac arrhythmias. Interested parties can participate via telephone or by accessing the live webinar on their investor relations website. Acutus focuses on advancing electrophysiology with a range of differentiated products aimed at enhancing treatment efficiency for arrhythmias.
Acutus Medical (AFIB) announced a strategic recapitalization through a commitment letter for debt refinancing with Deerfield Management Company and an agreement to sell its left-heart access portfolio to Medtronic. The refinancing extends the maturity of existing debt and includes a new $35 million credit facility. The sale will provide an upfront cash payment of $50 million, contingent on regulatory approvals. This move aims to bolster Acutus’ focus on electrophysiology solutions and improve financial performance.
Acutus Medical, Inc. (Nasdaq: AFIB), an arrhythmia management company, announced its participation in the 21st Annual Needham Virtual Healthcare Conference on April 12, 2022, at 3:45 p.m. Eastern Time. The management team will present insights on improving cardiac arrhythmias diagnosis and treatment. A live webcast of the presentation will be accessible at ir.acutusmedical.com, with a replay available for 90 days post-event. Acutus aims to enhance electrophysiology through a diverse product range and global partnerships.
Acutus Medical reported Q4 2021 revenue of $4.4 million, a 69% increase from Q4 2020, and full-year revenue of $17.3 million, up 104% from 2020. Global procedure volumes rose nearly 70% year-over-year. Despite revenue growth, Q4 gross margin was negative 128%, worsened from negative 90% in the prior year, driven by high operational costs. The net loss was $31.3 million, or $1.12 per share. The company faces ongoing challenges due to COVID-19 and anticipates Q1 2022 revenues between $3.2 to $3.5 million.
Acutus Medical (Nasdaq: AFIB) has rescheduled the release of its fourth quarter and full year 2021 financial results to March 30, 2022, due to ongoing audits. Management reports no disagreements with independent auditors and expects to meet SEC filing requirements. A conference call will take place on the same day at 1:30 p.m. PT to discuss the financial results.
Acutus specializes in arrhythmia management, aiming to enhance diagnosis and treatment methods. The company has a diverse portfolio of electrophysiology products facilitating catheter-based treatments.
Acutus Medical (Nasdaq: AFIB) will announce its Q4 and full-year 2021 financial results on March 17, 2022. The announcement will be followed by a conference call at 1:30 PM PT to discuss the results and recent highlights. Interested parties can join via telephone or live webinar. Acutus, based in Carlsbad, California, is committed to improving the diagnosis and treatment of cardiac arrhythmias through innovative products and technologies.
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