MINERVA SURGICAL Stock Price, News & Analysis

Minerva Surgical, Inc. (Nasdaq: UTRS) is a pioneering medical device company dedicated to advancing women's health care, headquartered in Redwood City, CA, within the heart of Silicon Valley. Founded in 2008 by a team of medical device industry veterans, Minerva Surgical focuses on creating next-generation products to address abnormal uterine bleeding (AUB), a condition impacting nearly 1 in 5 women.

With over three decades of combined experience, the founders of Minerva Surgical have successfully brought numerous medical device therapies to market. Their expertise has culminated in a broad product line of minimally invasive solutions designed to serve as alternatives to hysterectomy. These products aim to preserve the uterus and minimize the drawbacks associated with other treatment methods.

Minerva Surgical's flagship products, such as Symphion and Minerva ES, have shown significant market traction, backed by positive feedback from physician partners. Despite challenges, the company reported a steady revenue increase of 3% for the second quarter of 2023, reaching $13.4 million, compared to $13.0 million in the same quarter of 2022. This growth was driven by a 7% increase in sales of Symphion and Minerva ES, even as Genesys HTA sales declined.

However, the gross margin for the second quarter fell to 55.3%, down from 59.0% in the previous year, primarily due to direct cost increases and a shift in product mix. Operating expenses rose to $15.1 million, attributed mainly to a $3.9 million non-cash reduction in fair value of contingent consideration from the Boston Scientific product acquisition. Despite these financial challenges, Minerva Surgical's commitment to innovation and quality remains steadfast.

Looking ahead, the company anticipates annual revenue for fiscal year 2023 to be between $52 to $55 million, maintaining a consistent financial outlook. Minerva Surgical continues to leverage its commercial team and robust product offerings to support both surgeons and patients, striving for long-term growth and excellence in women's health.

For more information, please visit the Minerva Surgical website or contact their media and investor relations teams.