Welcome to our dedicated page for KORU Medical Systems news (Ticker: KRMD), a resource for investors and traders seeking the latest updates and insights on KORU Medical Systems stock.
KORU Medical Systems, Inc. (symbol: KRMD) is a prominent developer and manufacturer of innovative medical devices and supplies, headquartered at 24 Carpenter Road, Chester, New York, United States. Specializing in mechanical infusion products, the company is renowned for its cutting-edge FREEDOM Infusion Systems. These systems include the FREEDOM60 and FreedomEdge Syringe Drivers, designed to provide efficient and reliable delivery of life-saving therapies.
KORU Medical Systems primarily focuses on subcutaneous infusion devices, which are essential for administering immunoglobulin therapies to patients suffering from chronic illnesses such as Primary Immunodeficiencies (PIDD) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP). Their product line features the Precision Flow Rate Tubing and HIgH-Flo Subcutaneous Safety Needle Sets, enhancing the safety and effectiveness of home-based treatments.
The company's commitment to quality and innovation has positioned it as a leader in the medical device industry. Recent achievements include advancements in product technology and expanded partnerships aimed at enhancing patient care and expanding market reach. KORU Medical Systems continues to prioritize patient-centered solutions, ensuring their products meet the highest standards of safety and performance.
KORU Medical Systems (NASDAQ: KRMD) announced it will report its fourth quarter and full year 2022 financial results on March 8, 2023, at 4:30 p.m. ET. A conference call and webcast will follow to discuss the results and provide a corporate update. The company's product line includes the FREEDOM Syringe Infusion System, which supports patient home care with innovative drug delivery solutions. Investors can access the call by dialing the provided numbers for the U.S., Canada, and international callers, or via the archived webcast on the company’s website.
KORU Medical Systems, Inc. (NASDAQ: KRMD) has announced a development agreement with a pharmaceutical company to enhance its Freedom Infusion System for subcutaneous immunoglobulin therapy using prefilled syringes. This adaptation aims to facilitate home drug delivery for patients, as prefilled syringes are preferred for their ease of use. The Freedom Infusion System is the only approved system for this application. While the financial terms of the agreement remain undisclosed, the partnership is seen as a significant step towards expanding the number of FDA-approved therapies available for patients globally.
KORU Medical Systems (NASDAQ: KRMD), a medical technology company, announced its participation in two investor conferences on November 17, 2022. The management will present at the Canaccord MedTech, Diagnostics and Digital Health & Services Forum at 11:30 am EST, with a live and archived webcast available on their website. They will also attend the 13th Annual Craig-Hallum Alpha Select Conference on the same day. KORU Medical specializes in innovative subcutaneous drug delivery systems aimed at improving patient quality of life.
KORU Medical Systems (NASDAQ: KRMD) reported a strong third quarter for 2022, achieving net sales of $7.8 million, a 28.5% increase year-over-year. This growth was supported by a 46.8% rise in international core sales and a remarkable 251.9% increase in novel therapies. The company raised its full-year revenue guidance to $27.5-$28.0 million and improved its gross margin to 55.7%. However, operating expenses rose to $5.9 million, leading to a net loss of $1.2 million, compared to $1.1 million in the prior year. Cash reserves stood at $16.4 million.
KORU Medical Systems (NASDAQ: KRMD) has progressed its partnership with Kira Pharmaceuticals, expanding their agreement to include three new indications for Phase II studies of Kira's KP-104 program. The conditions target over 150,000 patients in the U.S. with nephrology and hematology conditions. Kira selected KORU for its proven subcutaneous therapeutic solutions, which allow treatments to be administered at home. This partnership reflects KORU's commitment to enhancing its novel therapies pipeline and improving patient care worldwide.
KORU Medical Systems (NASDAQ: KRMD) will report its third quarter 2022 financial results on November 9, 2022, at 4:30 p.m. ET. Management will host a conference call to discuss results and updates. The company is known for its innovative home infusion solutions, including the FREEDOM Syringe Infusion System. Interested parties can access the call at (877)-407-0784 for U.S. callers or (201)-689-8560 for international participants, using conference ID 13732861. Full details available on their website.
KORU Medical Systems (NASDAQ: KRMD) announced its participation in significant industry conferences: the 2022 PDA Universe of Pre-Filled Syringes and Injection Devices Conference on October 18-19 in Palm Springs, California, and the 12th Annual Partnership Opportunities in Drug Delivery (PODD) on October 24-25 in Boston, Massachusetts. KORU Medical aims to enhance its presence in the growing subcutaneous market, focusing on pre-filled syringes and novel therapies. CEO Linda Tharby emphasized the importance of these events in advancing the company's strategic goals.
KORU Medical Systems (NASDAQ: KRMD) has appointed Brent Rutland as Vice President of Medical Affairs. His role will focus on enhancing the company's clinical and data generation strategies, engaging key opinion leaders, and overseeing the medical affairs team. With 27 years of industry experience, Rutland previously held senior roles at Baxter Healthcare and La Jolla Pharmaceutical, where he facilitated multiple product launches. The leadership change aims to support KORU Medical’s growth by strengthening its medical strategy and clinical evidence generation.
KORU Medical Systems (NASDAQ: KRMD) has joined the Subcutaneous Drug Development & Delivery Consortium, positioning itself as a pioneer among device companies. This membership allows KORU Medical to collaborate with top industry experts to tackle challenges in the SC field, enhancing drug delivery systems. The Consortium aims to address unmet medical needs and improve patient outcomes through evidence-based communication. KORU Medical, known for its Freedom System used by over 25,000 patients, brings considerable expertise in subcutaneous therapy, especially for volumes above 5mL.
KORU Medical Systems (NASDAQ: KRMD) announced its participation in Canaccord Genuity's 42nd Annual Growth Conference, scheduled for August 10, 2022, at 10:00 AM ET. The company's management will present at the conference, which can be accessed via a live and archived webcast on KORU Medical's Investors page. KORU Medical is known for its innovative home infusion solutions, including the FREEDOM Syringe Infusion System, which significantly enhances patient quality of life.
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