Welcome to our dedicated page for Koru Med Sys news (Ticker: KRMD), a resource for investors and traders seeking the latest updates and insights on Koru Med Sys stock.
KORU Medical Systems develops, manufactures, and commercializes large-volume subcutaneous infusion solutions for drug delivery in home and ambulatory care settings. Its Freedom Syringe Infusion System includes Freedom60 and FreedomEDGE syringe infusion drivers, Precision Flow Rate Tubing, and HigH-Flo Subcutaneous Safety Needle Sets.
Company updates commonly cover quarterly results, revenue guidance, cash flow trends, FDA 510(k) clearances, EU MDR certification, and label expansions, including FreedomEDGE use for RYSTIGGO delivery. News also addresses pharma services and clinical-trial collaborations with biopharmaceutical companies, customization of the Freedom System across drug categories, and governance or leadership succession matters.
KORU Medical Systems authorized a stock repurchase program allowing for the purchase of up to $10 million of its common stock until December 31, 2021. CEO Don Pettigrew emphasized that this decision reflects confidence in the company's long-term outlook and shareholder value maximization. The repurchase will be financed with cash on hand and executed through open market or private transactions, depending on market conditions. The board views this initiative as a commitment to enhancing shareholder value and believes in the company's growth potential.
KORU Medical Systems (NASDAQ: KRMD) reported Q3 2020 financial results, revealing net sales of $6.1 million, a decrease from $6.6 million in Q3 2019. Despite this, net sales for the first nine months increased 19% year-over-year. Gross profit also declined to $3.9 million, reflecting a 64.8% margin. Net income fell to $0.2 million, or $0.01 per share, down from $0.7 million in the previous year. The company retains a solid cash position of $32.4 million. KORU is optimistic about upcoming product launches and clinical trials that could expand its market presence.
KORU Medical Systems (NASDAQ: KRMD) will release its financial results for Q3 2020 on November 3, 2020, after market close. A conference call is scheduled for November 4, 2020, at 9:00 am ET to discuss the results and business activities. Interested participants can join the call via telephone or online. KORU Medical specializes in specialty infusion solutions that enhance patient quality of life, with products like the FREEDOM Syringe Infusion System.