Asensus Surgical Inc Stock Price, News & Analysis

Asensus Surgical (ASXC) announced its operating and financial results for Q4 and FY 2022, reporting revenue of $2.5 million in Q4, unchanged from the previous year, while full-year revenue totaled $7.1 million, reflecting growth from 2021. The company performed over 840 surgical procedures in Q4, a 29% increase from Q4 2021, and over 3,100 for the full year. Asensus highlighted significant partnerships, including a collaboration with Google Cloud and plans for the LUNA Surgical System. However, the company incurred a net loss of $17.9 million in Q4 2022 and $60.4 million for the full year, raising concerns about its financial sustainability.

Asensus Surgical, Inc. (ASXC) announced plans to release its fourth-quarter and full-year 2022 financial results on March 2, 2023, after market close. The company recently held an Investor Day on February 21, 2023, which provided an in-depth review of its business operations. Asensus will not hold a separate earnings conference call following the release, but a video replay of the Investor Day is available on their investor relations page. The company focuses on digitizing surgery through its technology, including the Senhance Surgical System and the upcoming LUNA Surgical System, aimed at enhancing surgical outcomes and value-based healthcare.

Asensus Surgical, Inc. (NYSE American: ASXC) presented a corporate update during its February 21, 2023, Investor Day. The company aims to transform surgery through its Performance-Guided Surgery framework, leveraging advancements in digital laparoscopy via its Senhance® Surgical System and Intelligent Surgical Unit™ (ISU). A highlight is the upcoming LUNA™ Surgical System, designed from insights garnered over 10,000 procedures. Key features of the ISU include real-time analytics and machine-learning capabilities. Collaborative efforts with Google Cloud and KARL STORZ aim to enhance clinical insights and market reach. The LUNA Surgical System remains in development, with no current market availability.

Asensus Surgical (NYSE American: ASXC) has announced a Memorandum of Understanding with KARL STORZ VentureONE, focusing on the development of advanced surgical technology. This partnership aims to enhance the Intelligent Surgical Unit (ISU) by integrating it with KARL STORZ's imaging systems and jointly creating next-generation surgical instruments. The two companies plan to finalize definitive agreements in the next 90 days. Asensus aims to leverage KARL STORZ's extensive market presence to expand the reach of the ISU, enhancing surgical outcomes through augmented intelligence and improved instrument design.

Asensus Surgical announced a multi-year collaboration with Google Cloud to enhance its Performance-Guided Surgery™ (PGS) framework through secure cloud data architecture and machine learning. This partnership aims to improve surgical accuracy and patient outcomes by integrating advanced data analytics and augmented intelligence into surgical procedures. Asensus plans to provide analytics tools to surgeons and hospitals, leveraging Google Cloud's capabilities. Further details will be shared during Asensus’ investor day on February 21, 2023. Together, the collaboration seeks to revolutionize surgical practices and enhance the digital surgical interface.

On February 21, 2023, Asensus Surgical (ASXC) will celebrate a significant milestone by ringing the opening bell at the New York Stock Exchange, marking its ongoing commitment to innovation. CEO Anthony Fernando expressed pride in representing the company, emphasizing its focus on enhancing surgical outcomes. The event coincides with an Investor Day at 11:30 AM EST, featuring a live webcast for attendees. Asensus Surgical is dedicated to digitizing the surgical interface, aiming to improve results through the Senhance Surgical System and advanced technologies like machine vision and deep learning, now available in multiple countries including the US and EU.

Asensus Surgical, Inc. (NYSE American: ASXC) announced an Investor Day scheduled for February 21, 2023, at the InterContinental New York Barclay Hotel. The event begins at 11:30 AM EST and will feature a live webcast available on the company’s investor relations page.

Asensus is focused on Performance-Guided Surgery, leveraging its Senhance® Surgical System to enhance surgical outcomes through advanced technologies like machine vision and deep learning. The system aims to address the current challenges in surgical practices, reinforcing the company's commitment to redefining surgical standards.

Asensus Surgical, Inc. (ASXC) has received CE Mark approval for the expansion of its Intelligent Surgical Unit™ (ISU™) capabilities, now available in Europe, Japan, and the U.S. This enhancement includes 3D measurement, digital tagging, image enhancement, and improved camera control, aligning with the EU's stricter Medical Device Regulation (MDR). The Senhance® Surgical System is one of the first robotic surgical systems cleared under this new process. CEO Anthony Fernando emphasized the surgery community's positive feedback on these innovations as they aim to enhance real-time surgical tools, reflecting the company’s commitment to Performance-Guided Surgery™.

Asensus Surgical (ASXC) reported strong growth in its preliminary year-end results for 2022, highlighting over 26% increase in global procedures with around 2,650 performed. The fourth quarter alone saw more than 690 procedures, a 23% rise from the previous year. The estimated revenue for Q4 is $2.2-$2.8 million, while the full year revenue ranges from $6.8-$7.4 million. The company initiated nine new Senhance Surgical Programs in 2022, focusing on Germany, Japan, and the CIS region. With approximately $74.4 million in cash and investments as of year-end, Asensus is poised for future growth.