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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.
Stereotaxis (NYSE: STXS) has appointed Dr. Myriam J. Curet to its Board of Directors. Dr. Curet, currently Chief Medical Officer at Intuitive Surgical, brings over 20 years of experience in robotic surgery. She has been instrumental in developing clinical evidence and regulatory support at Intuitive Surgical. Dr. Curet expressed her excitement about Stereotaxis’ technology and its potential to transform endovascular medicine. CEO David Fischel welcomed her expertise as the company advances its robotics initiatives.
Stereotaxis (STXS) announced the release of its second-quarter financial results for 2021, scheduled for August 10, 2021, before U.S. market opening. The company will hold a conference call at 10 a.m. EST to discuss results and corporate developments. Stereotaxis leads in robotic technologies for cardiac arrhythmias and seeks to improve patient care with advanced, precise systems. This announcement reflects ongoing engagement with investors and provides insight into the company's financial performance.
Stereotaxis (STXS) reported a strong financial performance for Q1 2021 with a 50% revenue growth, totaling $8.6 million, up from $5.8 million in Q1 2020. The company shipped two robotic systems, contributing to system revenue of $2.6 million. Recurring revenue also showed modest growth at $5.8 million compared to $5.5 million a year earlier. Although the company posted an operating loss of ($1.5) million, this was an improvement from ($2.1) million in the same quarter last year. At quarter-end, Stereotaxis had a strong cash position of $44.1 million.
Stereotaxis (NYSE: STXS) is set to release its first quarter 2021 financial results on May 10, 2021, before the U.S. markets open. A conference call will follow at 10 a.m. EST to discuss the results and corporate developments. Investors can access the call via dial-in or through a webcast available on the Stereotaxis investor relations website. The company focuses on innovative robotic technologies for cardiac arrhythmia treatment, aiming to enhance patient care with precision and safety.
Stereotaxis (NYSE: STXS) announces that Chairman and CEO David Fischel will keynote the Robotic Surgery & Enabling Technologies Virtual Summit 2021 on April 15, focusing on innovations in robotic surgery. He expressed excitement about advancements in the field that enhance patient care and healthcare systems. The company's robotic technologies are designed for treating arrhythmias and endovascular procedures, showcasing their commitment to improving medical outcomes. Regulatory approvals for Stereotaxis' systems are in place across multiple regions, including the US and EU.
Stereotaxis (NYSE: STXS) announced that Broward Health Medical Center in Florida will establish a robotic electrophysiology program, becoming the only hospital in South Florida to offer robotic treatment for heart rhythm disorders. This program utilizes the Genesis Robotic Magnetic Navigation system, enhancing precision in cardiac ablation procedures. The initiative underscores Broward Health’s commitment to quality cardiac care and follows its recent accreditation for electrophysiology. This technological adoption aims to support the treatment of millions suffering from arrhythmias in the region.
Stereotaxis (STXS) announced the relocation of its global headquarters to the Globe Building in downtown St. Louis by the end of this year. This move aims to modernize the organization and support significant growth. The new facility will enhance collaboration among employees and triple the surgical robot manufacturing capacity. The Globe Building is strategically positioned within St. Louis' Innovation District, alongside other technology firms like Square and T-Rex. This change is expected to boost Stereotaxis' healthcare technology initiatives and contribute to the revitalization of the local community.
Stereotaxis reported its fourth quarter and full year financial results for 2020, highlighting FDA clearance for the Genesis RMN System. Fourth quarter revenue was $6.8 million, consistent with the previous year. However, full-year revenue totaled $26.6 million, a 15% decline in recurring revenue attributed to COVID-19. Operating loss for 2020 was ($6.7) million, with a cash balance of $44 million. Despite challenges, the company expects growth through new robotic system orders and further innovation, setting a strong foundation for 2021.
ST. LOUIS, Feb. 24, 2021 — Stereotaxis (NYSE: STXS) announced a 10-year CEO performance stock award for David Fischel, contingent on achieving market cap milestones. Fischel, who has served as unpaid CEO since 2017, oversaw a tenfold increase in stock value. His annual cash compensation is set at $60,000, with performance stock awards tied to market cap growth from $500 million increments up to $5.5 billion. This plan aims to retain Fischel and align his interests with shareholder returns, drawing inspiration from Tesla's CEO incentive model.
Stereotaxis (NYSE: STXS) announced that Chairman and CEO David Fischel will present at two investor conferences in Q1 2021. He will provide an overview of the company's business at the BTIG Virtual MedTech Conference on February 17, 2021, at 1:00 PM EST, and the Cowen Virtual 41st Annual Health Care Conference on March 1, 2021, at 11:00 AM EST. Fischel expressed gratitude for the invitations and aims to share Stereotaxis’ innovative technologies and growth strategies. One-on-one meetings can be arranged for interested investors.