Axonics Inc Stock Price, News & Analysis

Axonics, Inc. announced the pricing of its public offering of 3,500,000 shares of common stock at $50.00 each, aiming for gross proceeds of $175 million. The underwriters have an option to buy an additional 525,000 shares. Proceeds will be used to pay down $75 million in debt, support product commercialization, and fund R&D activities. The offering is set to close on May 14, 2021, pending customary conditions. Joint book-running managers include BofA Securities, Piper Sandler, and SVB Leerink.

Axonics, Inc. (Nasdaq: AXNX) has initiated a public offering of $150 million in common stock, with a potential additional option of $22.5 million for underwriters. The proceeds will primarily be utilized to repay $75 million of existing debt, enhance product commercialization, fund R&D, and for general corporate purposes. BofA Securities, Piper Sandler, and SVB Leerink are leading the offering, which is dependent on market conditions. The offering is conducted under an existing SEC registration statement.

Axonics, a medical technology company, reported Q1 2021 financial results with net revenue of $34.4 million, a 31% increase from $26.3 million in Q1 2020. Sacral neuromodulation generated $32.9 million. However, the company experienced a net loss of $22.5 million, worsening from $14.6 million in the prior year. Operating expenses rose to $42 million compared to $31.1 million a year earlier. Axonics anticipates fiscal year 2021 net revenue between $176 million to $180 million, representing 58% to 61% growth over 2020.

Axonics, a medical technology firm, will present at the BofA Securities 2021 Virtual Healthcare Conference on May 13, 2021, at 12:30 p.m. ET. The live webcast and replay will be available on their investor relations website. Axonics specializes in innovative therapies for bladder and bowel dysfunction, including a rechargeable sacral neuromodulation system and a urethral bulking agent, Bulkamid®. These products offer significant symptom relief to millions affected by overactive bladder, fecal incontinence, and stress urinary incontinence across the U.S. and Europe.

Axonics, Inc. (Nasdaq: AXNX) will release its first quarter 2021 financial results on May 6, 2021, after market closure. A conference call is scheduled for 4:30 p.m. ET, accessible via phone or webcast. Axonics specializes in medical technologies for bladder and bowel dysfunction, offering products like a rechargeable sacral neuromodulation system and Bulkamid® for stress urinary incontinence. With millions affected by these conditions, Axonics’ products provide clinically proven therapies and are reimbursed in the U.S. and most of Europe.

Axonics Modulation Technologies, Inc. (Nasdaq: AXNX) will participate in the virtual Barclays Global Healthcare Conference on March 10, 2021, presenting at 10:55 a.m. Eastern Time. The event will be accessible through the Axonics investor relations website.

Axonics focuses on innovative treatments for bladder and bowel dysfunction, impacting millions. They offer implantable sacral neuromodulation devices and Bulkamid® for stress urinary incontinence.

Endotronix announced the appointment of Dan Dearen to its Board of Directors on March 2, 2021. Dearen, President and CFO of Axonics Modulation Technologies (AXNX), joins as an Independent Director and will lead the Audit Committee. With over 30 years of experience, he played a pivotal role in Axonics' public listing and revenue growth, achieving over $111 million in sales in 2020. Endotronix is focused on expanding its Cordella Heart Failure System, currently undergoing clinical trials to drive commercial launch and improve heart failure management.

Axonics Modulation Technologies (Nasdaq: AXNX) has formed a strategic alliance with Micro Systems Technologies (MST) to enhance the manufacturing of its implantable sacral neuromodulation (SNM) devices. This collaboration focuses on the non-rechargeable SNM device, with plans to bring it to market after FDA approval. MST will utilize advanced manufacturing techniques to support Axonics' growth in addressing bladder and bowel dysfunction. This partnership strengthens Axonics' long-term capabilities and product offerings in the medical technology sector.

Axonics Modulation Technologies reported robust fiscal results for the fourth quarter and full year 2020, showcasing remarkable revenue growth despite pandemic challenges. Q4 net revenue reached $34.8 million, up from $9.9 million year-over-year, primarily driven by strong U.S. sales. The fiscal year 2020 net revenue was $111.5 million compared to $13.8 million in 2019. Gross margin improved to 63.6% in Q4, and cash reserves stood at $241.2 million. CEO Raymond W. Cohen anticipates a recovery in elective procedures, boosting growth potential.