Followers | 144 |
Posts | 27707 |
Boards Moderated | 3 |
Alias Born | 02/07/2004 |
Monday, September 18, 2017 11:36:09 PM
OMER, ISRAEL, Sep 18, 2017 (Marketwired via COMTEX) -- OMER, ISRAEL--(Marketwired - Sep 18, 2017) - Medigus Ltd. MDGS, +4.10% (tase:MDGS), a medical device company developing minimally invasive endosurgical tools and direct visualization technology, today announced financial results for the second quarter ended June 30, 2017.
"This quarter, we continued our efforts of commercial expansion of MUSE™ into Europe and beyond -- an indication that we are on track to deliver on our long-term growth objectives," said Chris Rowland, CEO of Medigus. "Coupled with clinical trials performances in China and our continued reductions in expenses, we believe we are rapidly approaching an important inflection in our business where we will continue to build on our vision of delivering an effective and minimally-invasive treatment option for GERD patients."
Recent Highlights:
The company presented new data demonstrating the MUSE™ system improves GERD symptoms and reduces proton pump inhibitor (PPI) reliance during Digestive Disease Week® (DDW) May 6-9, 2017
In May, the company also announced Japanese and European patents for micro ScoutCam™ microvisual technology
Recently, Medigus broadened availability of MUSE™ through distribution agreements in China, Spain, Switzerland, and Liechtenstein
Financial Results for the Second Quarter 2017:
Revenues for the three months ended June 30, 2017, were $82,000, a decrease of 16%, compared to the three months ended June 30, 2016
Research and development expenses for the three months ended June 30, 2017, were $615,000, a decrease of 44%, compared to the three months ended June 30, 2016
Sales and marketing expenses for the three months ended June 30, 2017, were $236,000, a decrease of 68%, compared to the three months ended June 30, 2016
General and administrative expenses for the three months ended June 30, 2017, were $550,000, a decrease of 39% compared to the three months ended June 30, 2016
Profit from changes in fair value of warrants issued to investors for the three months ended June 30, 2017, were $2,137,000, an increase of $2,136,000 compared to the three months ended June 30, 2016. This increase resulted primarily due to the changes in warrants fair value as of June 30, 2017
Operating loss for the three months ended June 30, 2017, was $1.3 million, compared to $2.7 million in the three months ended June 30, 2016
Total comprehensive income for the three months ended June 30, 2017, was $0.8 million, compared to $2.8 million loss in the three months ended June 30, 2016
Net cash used in operating activities was $1.4 million for the three months ended June 30, 2017, compared to net cash used in operating activities of $2.9 million for the corresponding 2016 period
As of September 17, 2017, Medigus has approximately $5.8 million in cash and cash equivalents
For detailed financial statements, please follow the link: http://www.medigus.com/investor-relations/financial-reports.
About Medigus Medigus is a medical device company specializing in developing minimally invasive endosurgical tools and highly innovative imaging solutions. They are the pioneer developer of the MUSE™ system, an FDA cleared and CE marked endoscopic device to perform Transoral Fundoplication (TF) for the treatment of GERD (gastroesophageal reflux disease), one of the most common chronic conditions in the world. In 2016, the CMS established the Category I CPT® Code of 43210 for TF procedures, such as the ones performed with MUSE, which establishes reimbursement values for physicians and hospitals. MUSE is gaining adoption in key markets around the world -- it is available in world-leading healthcare institutions in the U.S., Europe and Israel. Medigus is also in the process of obtaining regulatory clearance in China. Medigus is traded on the Nasdaq Capital Market and the TASE (Tel-Aviv Stock Exchange). To learn more about the company's advanced technology, please visit www.medigus.com or www.RefluxHelp.com
Recent MDGS News
- Xylo Technologies: ParaZero Received Order from a Leading Tier-One Defense Company for 50 Drone Safety Systems • GlobeNewswire Inc. • 08/15/2024 01:25:00 PM
- Xylo Technologies: Revoltz to Launch an Innovative Three-Wheel Electric Cargo Bike for European and UK Markets • GlobeNewswire Inc. • 08/14/2024 01:22:00 PM
- Xylo Technologies Announces Plan to Implement ADS Ratio Change • GlobeNewswire Inc. • 07/30/2024 08:00:00 PM
- Xylo Technologies: Charging Robotics Lands Commercial Order for EV Wireless Charging Systems in Automatic Car Parks • GlobeNewswire Inc. • 07/23/2024 12:22:00 PM
- Xylo Technologies: Charging Robotics Secures First Commercial Order for EV Wireless Charging Systems in Automatic Car Parks • GlobeNewswire Inc. • 06/27/2024 12:13:00 PM
- Xylo: Gix Internet Signed MOU for Investment and Merger with an AI- Robotics Company • GlobeNewswire Inc. • 06/06/2024 01:27:00 PM
- Xylo: Metagramm Successfully Completes Development of Advanced AI-Powered Writing and Grammar Product • GlobeNewswire Inc. • 05/28/2024 01:00:00 PM
- Xylo Technologies Signs LOI to Acquire a Leading AI Technology Company Based in Germany • GlobeNewswire Inc. • 05/21/2024 12:56:00 PM
- Xylo Technologies: Charging Robotics and Make My Day to Deploy AI based EV Charging Management System • GlobeNewswire Inc. • 05/15/2024 01:22:00 PM
- Xylo Technologies Files its 2023 Annual Report on Form 20-F • GlobeNewswire Inc. • 04/22/2024 08:05:00 PM
- Medigus Announces Corporate Rebranding Changes Name to Xylo Technologies Ltd. to Reflect Core Values of its Business • GlobeNewswire Inc. • 04/09/2024 08:03:00 PM
- Medigus Reaps Success with First Installation of a Wireless Charging System for Automatic Car Parks • GlobeNewswire Inc. • 04/01/2024 11:49:00 AM
- Medigus: Revoltz Initiates on Exclusive Distribution Agreement of $2.7 Million in Revenues and Completes the Production of the First 50 PORTO Micro-Mobility EVs • GlobeNewswire Inc. • 03/27/2024 11:55:00 AM
- Medigus: Charging Robotics Announces Successful Installment of its Wireless Charging System for Automatic Car Parks • GlobeNewswire Inc. • 03/19/2024 01:25:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/07/2024 09:19:48 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/22/2024 12:41:09 PM
- Medigus: ParaZero Ramps Up Partnership with US-Based Autonomous Drone OEM Vayu Aerospace Corporation • GlobeNewswire Inc. • 02/22/2024 12:38:50 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 09:00:18 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/12/2024 09:01:08 PM
- Medigus: Revoltz Opens for Pre-Orders of its Revolutionary Micro Mobility EV • GlobeNewswire Inc. • 01/04/2024 12:45:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/27/2023 01:10:37 PM
- Medigus: Charging Robotics Announces Positive Results in Transferring High Voltage Wireless Electricity Needed for EV Charging • GlobeNewswire Inc. • 12/27/2023 01:10:00 PM
- Medigus: Charging Robotics Targets the $1.8 Billion Automated Parking Market for EV Wireless Charging Solution • GlobeNewswire Inc. • 12/26/2023 12:11:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/21/2023 12:01:20 PM
- Medigus: ParaZero Successfully Completed its Drone Safety Project with a Fortune 500 Leading Automotive Manufacturer • GlobeNewswire Inc. • 12/21/2023 11:59:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM