Sanara Medtech Inc Stock Price, News & Analysis

Sanara MedTech Inc. (NASDAQ: SMTI) announced the acquisition of certain assets from Rochal Industries for approximately $1.0 million, consisting of $0.5 million in stock and $0.5 million in cash. This acquisition will enhance Sanara's wound and skin care technology and includes hiring Rochal's R&D team, intellectual property, and FDA clearances. The company anticipates additional operating expenses of $1.2 to $1.5 million in the first year, potentially offset by future grants and contract revenues. This move is aligned with Sanara's strategy to improve patient outcomes.

Sanara MedTech Inc. (NASDAQ: SMTI) has announced a strategic partnership with Pixalere Healthcare Inc., aimed at enhancing wound and skin care solutions. As part of the deal, Sanara acquired a 27.3% equity stake in Pixalere and has established a subsidiary, Pixalere USA, with exclusive rights to utilize Pixalere's software in the U.S. market. The integration of Pixalere's technology and Sanara's WounDerm platform is expected to improve patient care by providing advanced decision support and analytics to healthcare providers.

Sanara MedTech Inc. (NASDAQ: SMTI) reported a 42% revenue increase in Q1 2021, generating $5,009,436 compared to $3,524,331 in Q1 2020. Despite a January sales slowdown due to COVID-19, the company rebounded with record sales in March, exceeding $2 million for the first time. Notable highlights include the successful closing of a $29 million public offering, expansion of surgical product approvals to over 850 facilities, and a 23% growth in chronic wound care product sales. The net loss improved to $1,183,376 from $1,841,012 a year prior.

Sanara MedTech Inc. (NASDAQ:SMTI) announced strong financial results for the fourth quarter and full year ended December 31, 2020. The company reported a 32% increase in annual revenues to $15.6 million, with a record Q4 sales of $4.79 million, up 43% year-over-year. Despite challenges from COVID-19, Sanara expanded its product distribution and launched new products like the BIAKŌS™ Antimicrobial Wound Gel. The company also completed a public offering raising $31.6 million to fund further growth, although it reported a net loss of $4.45 million for the year.

Sanara MedTech Inc. (NASDAQ:SMTI) has successfully closed an underwritten public offering of 1,265,000 shares at $25.00 each, raising gross proceeds of $31.6 million. The offering included 165,000 additional shares exercised by underwriters. Proceeds will be used to expand the salesforce, develop product pipelines, and cover general corporate expenses. Previously, a shelf registration was filed with the SEC, and relevant prospectuses are available. Sanara aims to enhance patient outcomes through advanced wound care solutions.

Sanara MedTech Inc. has announced an underwritten public offering of 1,100,000 shares of common stock at a price of $25.00 per share, aiming for total gross proceeds of $27.5 million. The offering includes a 30-day option for underwriters to purchase an additional 165,000 shares. The offering is projected to close on February 17, 2021. Cantor Fitzgerald & Co. is the book-running manager for the offering, and the shares will be offered per an effective registration statement with the SEC.

Sanara MedTech Inc. (NASDAQ:SMTI) announced a proposed public offering of its common stock, with underwriters granted a 30-day option to purchase an additional 15% of shares. The offering is subject to market conditions and the final size and terms are yet to be determined. Cantor Fitzgerald & Co. is the book-running manager. The offering aims to improve patient outcomes through advanced wound and skin care products. Further details will be available via a prospectus filed with the SEC.

Sanara MedTech Inc. (NASDAQ: SMTI) reported preliminary results for Q4 and full year 2020, revealing Q4 revenue of $4.8 million, up 43% year-over-year from $3.4 million. Full-year revenue reached $15.6 million, a 32% increase from $11.8 million in 2019, driven by growth in sales force and distribution network expansion. Despite challenges posed by COVID-19, the company demonstrated resilience. As of December 31, 2020, cash and cash equivalents were approximately $0.5 million. Sanara also secured a $2.5 million revolving line of credit on January 15, 2021.

Sanara MedTech Inc. announced the appointment of Sara Ortwein to its Board of Directors, effective December 18, 2020. Ortwein, a former president of XTO Energy at ExxonMobil, brings 38 years of experience in engineering and management. Her addition is expected to enhance Sanara's strategic approach to wound and skin care products. Executive Chairman Ron Nixon emphasized her diversity of thought and executive-level expertise as valuable assets for the company. Sanara focuses on improving patient outcomes through advanced wound care and is expanding its telemedicine capabilities.