Welcome to our dedicated page for Nuwellis news (Ticker: NUWE), a resource for investors and traders seeking the latest updates and insights on Nuwellis stock.
Nuwellis, Inc. develops and commercializes medical technology for patients with cardiorenal conditions, including Aquadex SmartFlow ultrafiltration therapy for fluid removal in fluid overload. Company news commonly covers financial results, Aquadex software and product updates, patent activity for catheter technology, clinical case studies in pediatric and heart-failure care, medical-meeting participation, commercial territory expansion, and hospital-support initiatives.
Nuwellis, Inc. (Nasdaq: NUWE) recently hosted a webinar featuring leading clinicians discussing the effectiveness of Aquadex® ultrafiltration (UF) therapy for managing fluid overload in heart failure patients in outpatient settings. The panel emphasized the economic challenges of current care standards, highlighting that 24% of patients are readmitted within 30 days. Outpatient Aquadex therapy showed potential in reducing readmissions by up to 79% while improving patient satisfaction. The company aims to capitalize on this opportunity to enhance patient outcomes and reduce healthcare costs.
Nuwellis, Inc. (Nasdaq: NUWE) announced the enrollment of the first patient in its pivotal REVERSE-HF study, which will evaluate the efficacy of its Aquadex ultrafiltration therapy versus traditional IV diuretics for treating fluid overload in heart failure patients. Conducted across multiple sites in the U.S., the study aims to demonstrate improved patient outcomes and economic benefits, addressing the high readmission rates associated with heart failure. Key endpoints include mortality and heart failure events within 30 and 90 days, using innovative statistical methods to analyze results.
Nuwellis, Inc. (Nasdaq: NUWE) announced the expansion of its Aquadex SmartFlow® system to two new pediatric hospitals in Florida and Arkansas, highlighting a 36% CAGR in its pediatric segment. The device is specifically designed for gentle fluid removal in children suffering from fluid overload and is FDA-cleared for patients weighing over 20 kg. Additionally, Nuwellis is developing a new pediatric continuous renal replacement therapy device, supported by a $1.7 million NIH grant, aimed at improving care for small children with kidney issues.
Nuwellis, Inc. (NASDAQ: NUWE) announced the adjournment of its 2022 Annual Meeting of Stockholders, held on May 17, 2022, due to a lack of quorum. With only 49.23% of outstanding shares represented, the meeting will reconvene on May 25, 2022, at 2:00 p.m. Central Time to allow stockholders more time to vote on proposals outlined in the proxy statement filed on April 11, 2022. Stockholders of record as of March 30, 2022, are urged to vote before May 24, 2022, at 11:59 p.m. Eastern Time.
Nuwellis, Inc. (NUWE) reported a total revenue of $1.9 million for Q1 2022, marking a 17% increase from Q4 2021. This growth was driven by higher sales of consumables, despite capital equipment sales being lower than the previous year. The company received a Category III CPT Code effective January 1, 2022, enhancing reimbursement for therapeutic ultrafiltration and advancing Aquadex. Gross margin improved to 57.2%, while net loss decreased to $4.5 million. Cash reserves stood at approximately $19.3 million as of March 31, 2022.
Nuwellis (Nasdaq: NUWE) presented three Aquadex-related abstracts at the Pediatric Academic Societies meeting, held from April 21-25, 2022, in Denver. The research, partially funded by Nuwellis and the Ultrafiltration Therapy Registry, emphasizes the negative effects of fluid overload and the benefits of ultrafiltration therapy for pediatric patients. The Aquadex SmartFlow® system allows for precise fluid removal, critical for patients weighing 20 kg or more. CEO Nestor Jaramillo Jr. highlighted the research's importance in improving outcomes for those suffering from pediatric kidney disease.
Nuwellis, Inc. (NASDAQ: NUWE) announced that its Q1 2022 financial results will be released on May 10, 2022. The company will host a conference call at 9:00 AM ET to discuss the results and provide a business overview. Investors can access the live webcast through the Nuwellis website or dial in using the provided numbers. Nuwellis focuses on developing the Aquadex SmartFlow® system for ultrafiltration therapy, aimed at patients with fluid overload.
Nuwellis (Nasdaq: NUWE) has obtained IRB approval for its REVERSE-HF study, aimed at evaluating its Aquadex® ultrafiltration therapy against IV diuretics for heart failure patients with fluid overload. Over 1 million heart failure hospitalizations occur annually in the U.S., with 40% of these patients resistant to current treatments. The multicenter trial, beginning enrollment in 2022, will be led by prominent medical experts and seeks to affirm the therapeutic benefits of Aquadex, potentially transforming patient care.
Nuwellis, Inc. (Nasdaq: NUWE) reported a 4Q 2021 revenue of $1.6 million, down 19.6% year-over-year but up 20% compared to 4Q 2019.
The full-year revenue reached $7.9 million, marking a 6.5% increase from 2020 and a 44% growth from 2019. Gross margin for 4Q 2021 was 54.4%, down from 56.1% in 2020, while full-year gross margin improved to 56.7%. The net loss for 4Q was $4.4 million. The company ended 2021 with $24.2 million in cash and no debt, signaling financial stability.
Nuwellis, Inc. (NASDAQ: NUWE) announced on February 22, 2022, that its independent directors approved equity awards for five new employees as part of the 2021 Inducement Plan. The awards include options for a total of 7,694 shares, with an exercise price of $1.10 per share, matching the stock's closing price on the grant date. These options have a ten-year term and vest over four years. Nuwellis focuses on treating fluid overload through its Aquadex SmartFlow system, providing innovative ultrafiltration therapy to patients unresponsive to traditional medical management.