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.
Stereotaxis (NYSE: STXS) has inaugurated its new 45,000-square-foot global headquarters in downtown St. Louis, located in the historic Globe Building. This state-of-the-art facility will significantly enhance its surgical robotics operations for minimally invasive endovascular interventions. The headquarters is designed for substantial long-term growth, housing R&D, advanced manufacturing, and distribution capabilities. The event featured demonstrations of their Robotic Magnetic Navigation technology, which has been utilized in over 100 hospitals worldwide.
Stereotaxis (STXS) reported its fourth quarter and full year 2021 financial results, highlighting a 32% revenue growth year-over-year, totaling $35.0 million. The fourth quarter revenue reached $8.2 million, up 21% from the prior year. System revenue saw significant gains, with $11.2 million for the year, reflecting increased adoption of its Genesis RMN systems. The company has a robust innovation pipeline and starts 2022 with $40 million in cash. However, operating losses increased to approximately ($3.4 million) in Q4, and supply chain issues affected new robotic program opportunities.
Stereotaxis (NYSE: STXS), a leader in surgical robotics for minimally invasive interventions, announced that David Fischel, chairman and CEO, will present at three investor conferences in Q1 2022. The presentations include:
- BTIG Virtual Conference on February 15, 2022, at 10:30 am EST
- Aegis Capital Corp. Virtual Conference on February 25, 2022, at 12:00 pm EST
- Cowen Virtual 42nd Annual Health Care Conference on March 8, 2022, at 10:30 am EST
Fischel aims to discuss Stereotaxis' technology and growth strategy with investors.
Stereotaxis (NYSE: STXS) announced plans to release its financial results for Q4 and full year 2021 on March 3, 2022, before the market opens. The company will hold a conference call at 10 a.m. EST to discuss the results and corporate developments. Interested parties can access the call by dialing 866-409-1555 or through the investor relations section of Stereotaxis’ website. The company is a leader in surgical robotics for minimally invasive endovascular interventions, with technology used to treat over 100,000 patients globally.
Stereotaxis (NYSE: STXS) announced the establishment of a robotic electrophysiology program at Fuwai Central China Cardiovascular Hospital, marking a significant milestone as the first in central China. The initial robotic cardiac ablation procedure was successfully performed by Dr. Chen Ke and Dr. Song Weifeng, highlighting the efficiency and safety of the Robotic Magnetic Navigation technology. Hospital officials emphasized their commitment to providing advanced treatment options for arrhythmias, with expectations for future robotic-assisted interventional procedures.
Stereotaxis (NYSE: STXS) announced that HonorHealth has launched a robotic electrophysiology program at its Scottsdale Shea Medical Center, utilizing the Genesis Robotic Magnetic Navigation (RMN) system. This initiative aims to enhance patient care for those undergoing cardiac ablation procedures, vital for treating arrhythmias. Dr. Rahul Doshi emphasized the program's potential to transform care, while Dr. Maulik Shah highlighted HonorHealth's commitment to advanced medical technologies. David Fischel, CEO of Stereotaxis, expressed enthusiasm about supporting HonorHealth's vision in improving patient outcomes.
Stereotaxis (NYSE: STXS) has announced a new publication demonstrating the effectiveness of its Robotic Magnetic Navigation (RMN) technology in reducing silent cerebral embolism (SCE) during atrial fibrillation ablation procedures. A study of 166 patients found that RMN significantly decreased SCE incidence to 5.77%, compared to 32.26% with manual catheters (p<0.001). This pivotal research, conducted independently in China, could position Stereotaxis as a leader in improving patient safety in cardiac interventions, reinforcing the efficacy of robotic solutions in complex procedures.
Stereotaxis (NYSE: STXS) has announced its inaugural Innovation Day on December 13, 2021, at 4:00 p.m. EST. This live webcast event will showcase the company's innovation pipeline with presentations from leadership and a Q&A session. Stereotaxis is recognized as a global leader in surgical robotics for minimally invasive endovascular intervention, having treated over 100,000 patients worldwide. Interested participants can register in advance at www.stereotaxis.com/innovation-day.
Stereotaxis (NYSE: STXS) announced that BJC HealthCare has installed the Genesis RMN system at Missouri Baptist Medical Center, making it the first healthcare system in the Midwest to offer this advanced robotic technology for cardiac arrhythmia treatment. A second installation is planned at Barnes-Jewish Hospital. The Genesis RMN system enhances cardiac ablation procedures with robotic precision, improving safety and effectiveness. With a history of over 1,000 treatments at Barnes-Jewish Hospital, this partnership aims to expand access to innovative arrhythmia care in the St. Louis region.
Stereotaxis reported a 5% increase in revenue for Q3 2021, totaling $9.1 million, driven by renewed adoption of robotic systems. Operating expenses rose to $9.4 million, reflecting increased R&D and hiring. Both operating and net losses were $4.6 million, worsening from $1.6 million the previous year. The company maintains a cash balance of $42.8 million, down from $44.2 million at year-end 2020. Strategic collaborations, especially in China, and upcoming innovations are positioned to enhance long-term growth.