Sensus Healthcare Inc Stock Price, News & Analysis

Sensus Healthcare (Nasdaq: SRTS) has entered an exclusive distribution agreement with Ekpac Healthcare Ltd. for the SRT-100™ systems in China and Hong Kong, effective January 1, 2021. This agreement aims to enhance the delivery of non-invasive treatment for non-melanoma skin cancer and keloids. With 40 units currently installed across various medical facilities, Sensus anticipates significant growth in unit installations in the region. Ekpac Healthcare brings over a century of experience in the market and will leverage its distribution network to achieve sales success for these advanced medical devices.

Sensus Healthcare announces a significant change in reimbursement for Radiation Treatment Delivery code 77401, set to increase by 66% to approximately $41 per treatment, effective January 1, 2021. This increase is the first major adjustment since 2002. In addition, related Evaluation & Management codes will also see double-digit percentage increases. This development follows a concerted effort by Sensus and healthcare advocates to secure fairer payments for Superficial Radiation Therapy (SRT), a non-invasive treatment for skin cancer.

Sensus Healthcare, Inc. (Nasdaq: SRTS) announced the publication of a prospective study in the Journal of the American Academy of Dermatology, demonstrating a significantly low recurrence rate of keloids after superficial radiation therapy (SRT) post-excision. The study showed a 6.25% recurrence rate at six months, with no recurrences at 24 months for the follow-up group. The study suggests that a single 8 Gy dose of SRT may effectively reduce keloid recurrence, especially in steroid-resistant cases. This research highlights the growing acceptance of SRT in dermatology.

Sensus Healthcare, Inc. (SRTS) reported Q3 2020 revenues of $1.6 million, a decline from $5.8 million in Q3 2019, attributed mainly to COVID-19 impacts. The net loss was $(1.7) million, or $(0.10) per share, compared to a $(0.7) million loss in the prior year. Despite challenges, the company made strategic moves, such as acquiring mobile laser businesses, and appointed Megan Cornish to its Board. They began generating recurring revenues from Sentinel IT Solutions, and sold two SRT-100™ systems in China, looking to expand further in Asia.

Sensus Healthcare (Nasdaq: SRTS) announced the appointment of Megan Cornish to its board of directors, effective January 1, 2021, increasing the board to six members. Cornish brings over a decade of experience in government relations and lobbying, particularly in food distribution and public policy. The CEO, Joe Sardano, highlighted her potential to enhance the company’s efforts in promoting superficial radiation therapy and expanding awareness among healthcare providers and patients. Cornish aims to leverage her background to improve access to non-invasive treatments for skin cancer.

Sensus Healthcare (Nasdaq: SRTS) will host a conference call on November 5, 2020 at 4:30 p.m. ET to discuss its third quarter financial results and provide a business update on recent and upcoming milestones.

The call is accessible via dial-in numbers and will also be webcast live, with a replay available thereafter. Sensus Healthcare specializes in non-invasive treatments for oncological and non-oncological conditions, utilizing innovative technologies such as the Sculptura™ system and SRT-100™.

Sensus Healthcare (Nasdaq: SRTS) announced a retrospective study revealing a keloid recurrence rate of only 10.4% at 12 months for patients treated with superficial radiation therapy (SRT) after keloidectomy, significantly lower than the typical rate of over 80% with surgical excision alone. This study, published in the Journal of Clinical and Aesthetic Dermatology, involved 61 subjects and highlighted SRT's effectiveness, confirming its potential as a game-changer for treating keloids. The Kaplan-Meier survival probability cure rate stood at 85.6% from 24 months post-treatment.

Sensus Healthcare, Inc. (SRTS) reported second quarter results for 2020, revealing revenues of $1.2 million, down from $7.5 million in Q2 2019, largely due to COVID-19 impacts. The company experienced a net loss of $2.6 million, or $0.16 per share, compared to a profit of $0.1 million a year prior. Cash reserves increased to $18.9 million. Recent strategic moves include acquiring two mobile laser companies in Florida, aiming to generate $1 million in base revenues over the next year, and expanding marketing efforts post-pandemic.

Sensus Healthcare (Nasdaq: SRTS) has acquired two mobile aesthetic laser companies, Aesthetic Mobile Laser Services and Aesthetic Laser Partners, significantly expanding its dermatology customer base in Florida. These acquisitions are anticipated to generate an additional $1.0 million in revenue over the next 12 months and are immediately accretive to earnings. The new division, Sensus Laser Aesthetic Solutions, will be led by management from the acquired companies, enhancing market reach and technology integration as Sensus plans to introduce its own aesthetic laser products.