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 announced its participation in the Fifth Annual International Meeting of the Society for Cardiac Robotic Navigation (SCRN) on November 12-13, 2021. This hybrid event will showcase discussions on innovations in cardiac robotics, including presentations on energy sources, automated navigation for atrial fibrillation, and TeleRobotic collaborations. The SCRN aims to foster clinical awareness and technology advancement in cardiology. Stereotaxis continues to lead in robotic technology for arrhythmias, emphasizing its commitment to improving patient care.
Stereotaxis (NYSE: STXS) announced it will release its 2021 third quarter financial results on November 11, 2021, before U.S. markets open. A conference call will follow at 10 a.m. EST to discuss results and corporate updates. Investors can access the call by dialing 800-367-2403 (U.S. and Canada) or 334-777-6978 (International), using passcode 1935969. A webcast will also be available on the company’s investor relations webpage.
Stereotaxis (NYSE: STXS) announced the installation of its Genesis Robotic Magnetic Navigation system at Princess Grace Hospital Center in Monaco, enhancing the treatment of cardiac arrhythmias. This system is pivotal for robotic cardiac ablation, which has treated over 1,000 patients in Monaco since its introduction in 2006. The hospital's electrophysiologists, key early adopters of this technology, have already successfully treated patients with the new system. Stereotaxis emphasizes its long-term partnership with the hospital and its commitment to advancing electrophysiology technology.
On October 12, 2021, Stereotaxis (NYSE: STXS) announced a publication highlighting their robotic technology's effectiveness in treating cardiac arrhythmias in pediatric patients. The study, which included 223 patients and was conducted at Erasmus Medical Center, revealed that patients receiving Robotic Magnetic Navigation (RMN) had a 94.4% success rate in avoiding arrhythmia recurrence over a mean follow-up of 5.5 years. Notably, zero adverse events occurred with RMN, contrasting with 2.6% for manual methods, showcasing significant safety and efficacy benefits.
Stereotaxis (NYSE: STXS), a leader in robotic technologies for cardiac arrhythmia treatment, announced presentations by CEO David Fischel at two investor conferences in September 2021. He will attend the Lake Street 5th Annual Best Ideas Growth Conference on September 15 for one-on-one meetings, and present at the Cantor Virtual Global Healthcare Conference on September 29 at 8:00 am EDT, also available for one-on-one meetings. Fischel aims to discuss Stereotaxis’ technology, clinical value, and growth strategy.
Stereotaxis (NYSE: STXS) and MicroPort EP have announced a strategic collaboration to enhance robotics technology in electrophysiology in China. MicroPort EP will serve as the exclusive distributor of Stereotaxis’ Robotic Magnetic Navigation technology in the region. This partnership aims to integrate advanced technologies like the Genesis RMN® system and develop new cardiac catheters. The agreement, effective until 2028, intends to significantly boost the adoption of robotic systems in China’s electrophysiology market, benefiting healthcare providers and patients alike.
Stereotaxis reported strong financial results for Q2 2021, with revenue of $9.1 million, marking a 70% increase year-over-year. System revenue reached $2.7 million, supported by new orders in the US and China. Recurring revenue also grew to $6.1 million, up from $5.1 million. The company faced operating losses of $3.4 million but reported a net loss of $1.2 million, benefiting from $2.2 million in Paycheck Protection Loan forgiveness. Cash balance remained stable at $44.2 million as of June 30, 2021.
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.