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Stereotaxis, Inc. develops robotic technologies for minimally invasive endovascular intervention, with recurring news centered on electrophysiology and arrhythmia treatment. Company updates cover the MAGiC™ Magnetic Interventional Ablation Catheter, MAGiC Sweep high density mapping catheter, Genesis and GenesisX robotic magnetic navigation systems, and related clinical use in complex heart-rhythm procedures.
News also includes FDA and international regulatory clearances or approvals, hospital robotic heart-arrhythmia program launches, commercialization of cath-lab technologies such as Synchrony™ and SynX™, manufacturing and product-pipeline progress, material agreements, capital-structure updates, and periodic operating and financial results.
ST. LOUIS, Feb. 21, 2023 – Stereotaxis (NYSE: STXS), a leader in surgical robotics for minimally invasive endovascular intervention, announced that Chairman and CEO David Fischel will speak at the Cowen 43rd Annual Health Care Conference. The presentation is scheduled for March 6, 2023, at 11:10 am ET, during a Fireside Discussion with Cowen's Managing Director, Josh Jennings. Fischel will also hold one-on-one meetings afterwards.
Fischel expressed enthusiasm about sharing Stereotaxis’ innovative technology and growth strategy with investors, highlighting its commitment to enhancing patient care and operational efficiency.
Stereotaxis (NYSE: STXS), a leader in surgical robotics for minimally invasive endovascular interventions, plans to release its financial results for Q4 and the full year 2022 on March 3, 2023, before U.S. market opening. A conference call will occur at 10 a.m. EST to discuss these results and corporate developments. Investors can participate via the dial-in number 800-715-9871 (U.S. and Canada) or 1-646-307-1963 (International) with passcode 6529896. The webcast will also be available on Stereotaxis' investor relations site. This event is crucial for assessing the company's performance and future outlook following its successful applications in over 100,000 procedures globally.
Stereotaxis (NYSE: STXS) has successfully treated nearly 500 patients using the Genesis Robotic Magnetic Navigation (RMN) system at Corewell Health's Fred & Lena Meijer Heart Center in Michigan. This marks the center as the first in the state to adopt this advanced robotic technology for cardiac ablation procedures aimed at treating complex heart arrhythmias. The Genesis system enhances precision and safety during procedures, crucial for improving patient outcomes. Stereotaxis continues to strengthen its partnership with Corewell Health to lead in arrhythmia care.
Stereotaxis (NYSE: STXS) has announced that Chairman and CEO David Fischel will participate in the Piper Sandler 34th Annual Healthcare Conference on December 1, 2022. Fischel will present during a Fireside Discussion at 9:00 am ET, followed by a panel on The Future of Robotic Surgery at 10:00 am ET. He will also engage in one-on-one meetings throughout the day to discuss Stereotaxis’ innovative technology and growth strategies, emphasizing their commitment to improving patient care with robotic systems.
Stereotaxis reported $7.7 million in revenue for Q3 2022, down from $9.1 million year-over-year. The decline is attributed to reduced system revenue due to hospital construction delays affecting backlog conversion. Gross margin stood at 60%, with recurring revenue gross margin at 80%. Operating loss was $5.1 million, while adjusted net loss was $2.2 million, excluding stock compensation. The company maintains a cash balance of $32.4 million, with no debt, and a growing system backlog over $13 million, indicating potential for recovery and growth in the upcoming year.
Stereotaxis (NYSE: STXS) announced that it will release its third-quarter 2022 financial results on November 10, 2022, before U.S. markets open. A conference call will follow at 10 a.m. EST to discuss these results and corporate updates. The call can be accessed by dialing 800-715-9871 (US) or 1-646-307-1963 (International), using the passcode 5729833. This session aims to provide insights into Stereotaxis' performance in the surgical robotics sector and its ongoing developments in minimally invasive endovascular interventions.
Stereotaxis (NYSE: STXS) has been awarded the 2022 Innovation Award by the Office of the Mayor of St. Louis, reflecting its leadership in advancing robotic technologies for minimally invasive heart procedures. The company’s Robotic Magnetic Navigation technology benefits patients with various arrhythmias, having treated over 100,000 globally. Stereotaxis invests over $10 million annually in R&D to enhance healthcare access. Recently, it opened a new 45,000-square-foot headquarters in St. Louis, furthering its commitment to innovation in robotic surgery.
Stereotaxis (NYSE: STXS) announced its participation in the Sixth Annual International Meeting of the Society for Cardiac Robotic Navigation (SCRN) in Budapest on September 29-30, 2022. The event, featuring over 100 attendees and 30 faculty from more than 20 countries, focuses on advancements in robotic technologies in cardiology. Presentations will showcase the clinical value and innovations of Stereotaxis’ systems, including the Genesis RMN system and tele-robotics. CEO David Fischel expressed enthusiasm for SCRN’s growth and the opportunity to engage with peers to enhance patient care through robotics.
Stereotaxis (NYSE: STXS) announced Overland Park Regional Medical Center (OPRMC) is launching its second robotic program for heart rhythm disorders. This follows OPRMC's successful robotic heart rhythm care program established in 2019. The hospital will become the first in the U.S. to operate two Stereotaxis robotic systems for cardiac ablation, enabling treatment for a wider range of arrhythmias. This collaboration aims to enhance patient care and clinical research in Kansas City, utilizing advanced robotic technology for minimally invasive procedures.
Stereotaxis (STXS) reported a second quarter 2022 revenue of $6.2 million, down from $9.1 million in Q2 2021, driven by reduced system sales. Operating loss and net loss for the quarter were approximately ($5.2 million), compared to ($3.4 million) and ($1.2 million) the previous year. The company noted a strong gross margin of 76%, with recurring revenue gross margin at 83%. Despite financial challenges, Stereotaxis is advancing its innovation pipeline, with three new orders for Genesis systems and plans for future product launches.