Sensus Healthcare, Inc. reports developments tied to its medical-device business for superficial radiotherapy treatments for oncological and non-oncological skin conditions. The company’s updates center on SRT and IG-SRT technology, including systems used in the treatment of non-melanoma skin cancer and keloids, as well as products and services that support dermatology and radiation-oncology practices.
Recurring news topics include quarterly results, reimbursement and CPT coding for superficial radiotherapy, customer acquisition programs, financing options through Sensus Healthcare Financial Services, installed-base software such as Sensus Link, Fair Deal Agreement activity, international customer development, and commercial or legal matters related to product sales and deployments.
Sensus Healthcare, Inc. (NASDAQ: SRTS), a leader in innovative medical devices, announced participation in three virtual investment conferences in March 2021. Key events include the H.C. Wainwright Global Life Sciences Virtual Conference on March 9-10, the Roth Conference featuring a live panel on March 16, and the Maxim Group Emerging Growth Conference on March 17-18. These conferences offer opportunities for one-on-one meetings with institutional investors. Sensus specializes in non-invasive treatments for oncological and non-oncological conditions, enhancing patient care globally.
Sensus Healthcare (SRTS) reported a fourth-quarter net income of $1.0 million on revenues of $5.1 million, down from $8.5 million in Q4 2019. Despite shipping 18 systems, including sales in China, the revenue drop is attributed to COVID-19 impacts. The company achieved a 63.4% gross profit margin. Major highlights include increased Medicare reimbursement rates and promising clinical studies on superficial radiation therapy (SRT) for keloid treatment. The company's cash reserves stood at $14.9 million as of December 31, 2020, with a focus on recovery in the upcoming year.
Sensus Healthcare has received U.S. Patent No. 10,607,802 B2 for its Sculptura™ radiation therapy technology, enhancing treatment for all solid tumors. This patent covers the innovative beam splitting and sculpting capabilities, which are crucial for targeted therapies. The company has now secured five patents since early 2020. CEO Joe Sardano emphasized the potential for licensing this technology beyond Sculptura. The firm specializes in non-invasive treatment options and is dedicated to improving cancer care and patient quality of life.
Sensus Healthcare, Inc. (Nasdaq: SRTS) will hold a conference call on February 25, 2021, at 4:30 p.m. ET to discuss its Q4 2020 financial results and provide a business update on recent and upcoming milestones. The call can be accessed via dial-in numbers and will also be available as a live webcast. Sensus Healthcare specializes in non-invasive treatments for oncological and non-oncological conditions, including its Sculptura™ system for cancer therapy and SRT-100™ for non-melanoma skin cancers.
Sensus Healthcare (Nasdaq: SRTS) announced that Holy Name Medical Center in New Jersey has acquired its low-dose radiation therapy system to treat pneumonia in COVID-19 patients. This portable solution allows for bedside treatment, minimizing potential exposure for patients. Preliminary data suggest a positive therapeutic effect on COVID pneumonia. CEO Joe Sardano expressed optimism about the partnership, emphasizing Holy Name's success with investigational therapies. Sensus's technology, including the SRT-100+™ and SRT-100 Vision™, offers a promising new tool during the pandemic.
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.