Does Asensus Surgical have a Russia problem?

Asensus Surgical’s Senhance surgical system [Photo courtesy of Asensus Surgical]Add the Russia-Ukraine war to the potential challenges facing Asensus Surgical (NYSE American: ASXC) as it seeks to innovate in the surgical robotics space.

Research Triangle Park, North Carolina–based Asensus today announced the sale of one of its Senhance surgical systems, an important development given that its 2021 annual report lists a total of two Senhance system sales and one lease buyout.

The company, however, didn’t name the hospital or country where its distribution partner placed the system. It only said that it was a hospital in the Commonwealth of Independent States, the international organization of countries that includes Russia and many of the other countries that made up the former Soviet Union.

Asensus Surgical spokespeople did not immediately respond to requests for comment. The company is scheduled to release Q2 earnings on Aug. 8.

Since Ru…

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Asensus installs Senhance surgical robot in German hospital

Asensus Surgical (NYSE:ASXC) announced today that it installed a Senhance surgical system at University Hospital Tübingen in Germany.

The Department of Gynecology at the University Hospital Tübingen previously initiated its Senhance Surgical program in December of 2021.

According to a news release, the system will be initially utilized by the gynecology department and, independent of the lease and utilization agreement, the department entered into a research agreement with Asensus focused on collecting procedural and outcomes data for certain gynecologic procedures performed with the Senhance system.

“Gynecological procedures require a high level of precision and safety while at the same time utilizing small instruments due to the delicacy and size of the anatomy,” Medical Director of the Department of Gynecology at University Hospital Tübingen Diethelm Wallwiener said in the release. “Senhance is a great addition to our gynecology department as it provi…

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Asensus Surgical dips as revenues fall short of Wall Street expectations

Asensus Surgical (NYSE:ASXC) shares slid today on fourth-quarter results that missed the consensus sales forecast.

The Research Triangle Park, North Carolina-based surgical robotics company posted losses of $15.9 million, or 7¢ per share, on sales of $2.1 million for the three months ended Dec. 31, 2021, for a slight bottom-line further into the red despite sales numbers that were more than tripled from this period a year ago.

Adjusted to exclude one-time items, losses per share were also 7¢, falling even with projections on Wall Street, where analysts were looking for sales of $1.5 million

Asensus Surgical President and CEO Anthony Fernando said in a news release that, despite headwinds throughout 2021, the company — formerly known as TransEnterix — grew its active installed base and produced the highest procedure volumes in the Senhance surgical robot’s commercial history.

“As we look towards 2022, we expect to continue to drive the global…

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Russian hospital initiates program with Asensus Surigical’s Senhance surgical robot

The Senhance surgical system pictured with the latest ISU mode [Image courtesy of Asensus Surgical]Asensus Surgical (NYSE:ASXC) announced today that a private Russian healthcare institution began a program with its Senhance system.

Research Triangle Park, North Carolina-based Asensus said in a news release that Rostov, Russia-based Railway Clinical Hospital RZD Medicine of Rostov-on-Don (RZD Medicine) purchased a Senhance surgical robotic system and initiated a robotic surgery program with the platform.

“We are excited to bring Senhance to such a prestigious, forward-thinking institution. RZD Medicine is home to a high volume, multidisciplinary general surgery department that can leverage Senhance across a wide variety of procedures,” Asensus Surgical President & CEO Anthony Fernando said in the release. “We are excited to see hospitals in Russia starting to adopt Senhance, and we look forward to partnering with others in the region in the future.”

Senh…

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Asensus Surgical ticks up on Street-beating Q3 revenues

The Senhance surgical system pictured with the latest ISU mode [Image courtesy of Asensus Surgical]Asensus Surgical (NYSE:ASXC) shares rose after hours today on third-quarter results that topped the consensus sales forecast.

ASXC shares were up 10.3% at $2.04 after hours today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down 0.1%.

The Research Triangle Park, North Carolina-based robotic surgery technology developer posted losses of $16.1 million, or 7¢ per share, on sales of $2.6 million for the three months ended Sept. 30, 2021, for a 6.5% bottom-line slide on massive sales growth from revenues of $814,000 this time last year.

Adjusted to exclude one-time items, losses per share were 6¢, which finished behind Wall Street projections of an even finish. The company beat The Street on revenues, though, as analysts were looking for sales of just $1 million.

“We are …

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Asensus Surgical’s board chair is leaving

Asensus Surgical (NYSE:ASXC) announced that Paul LaViolette, the company’s board chair, will step down from his position.

LaViolette, who has served as the chair of the board since 2013, will step down as chair later this month and intends to leave the board before the end of the year due to other professional commitments. According to a news release, the board intends to appoint David Milne, an existing board member, as the company’s chair after LaViolette steps down.

“It has been a remarkable journey being a part of this organization over the last 8 years and I have valued my time spent on the board,” LaViolette said in the release. “The company has evolved multiple times and is now in a position to revolutionize the way surgery is being performed. I’m confident the team will deliver on the promise of Performance-Guided Surgery through the continued development of Senhance. I wish David, Anthony, and the rest of the organization the best.”

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FDA clears expanded machine vision capabilities for Asensus Surgical’s robotic surgery system

Asensus Surgical (NYSE American: ASXC) announced today that FDA has cleared next-gen augmented intelligence capabilities on its Senhance system’s Intelligent Surgical Unit.

The ISU already enabled machine vision-driven camera control; the system responded to the surgeon’s commands and even recognized certain objects and locations in the surgical field. The new ISU features expand the capabilities and introduce more advanced features, including 3D measurement, digital tagging, image enhancement and enhanced camera control — a first for soft-tissue abdominal surgery, according to the company.

“The addition of these pioneering digital capabilities on our existing surgical platform provides real-time intraoperative digital tools to surgeons and underscores our commitment to delivering our vision for performance-guided surgery,”  Asensus Surgical CEO Anthony Fernando said in a news release. “This is the latest example of our progress toward d…

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MedTech 100 roundup: Industry ticks up again

The medtech industry has been rising for weeks and the latest seven-day stretch was no exception as stocks ticked up again.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (Aug. 6) at 119.41 points, marking a 0.5% rise from the previous week’s tally of 118.86 points (July 30). Not including the  the week in which the index shot up to 145.88 points and quickly tumbled down, the latest marks would represent the index’s all-time best.

Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 29.3% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 92.2% ascent above that point.

The industry’s performance did not correlate with the overall markets this past week as t…

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Asensus Surgical reports mixed Q2 results

Asensus Surgical (NYSE American: ASXC) reported second-quarter results that beat the Wall Street earnings consensus forecast but missed on revenue.

The Research Triangle Park, N.C.–based surgical robotics company reported a loss of –$13.2 million, or –6¢ per common share, off revenue of $1.1 million for the quarter ended June 30, 2021 — versus a loss of –$14.1 million, –27¢ per share, off revenue of $0.7 million during Q2 2020.

Adjusted to exclude one-time items, earnings per share were –5¢, a penny ahead of The Street, where analysts were looking at EPS of –6¢ on sales of $1.5 million.

“During the quarter, we continued to drive strong adoption and utilization trends while making progress towards our strategic focus areas, including the expansion of clinical evidence, growth of our installed base, increased procedure volumes, the expansion of our portfolio and the continued technological development of Senhance. Importantly, I am encouraged by our proced…

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FDA clears articulating instruments for Asensus Surgical’s robotic system

Asensus Surgical (NYSE American: ASXC) announced today that FDA has cleared 5 mm diameter articulating instruments for the company’s Senhance surgical system.

The instruments previously received a CE mark in the EU. They provide better access to difficult-to-reach areas of the anatomy by providing two additional degrees of freedom.

“Bringing the benefits of 5 mm articulating instruments to the Senhance surgical system in the U.S. will widen the clinical utility and value of our platform,” Asensus Surgical  CEO Anthony Fernando said in a news release. “Combining articulation and haptics with augmented intelligence is a very promising development for performance-guided surgery.”

The Senhance system is a digital laparoscopic platform that leverages augmented intelligence, with the goal of boosting performance and patient outcomes. Senhance includes surgical assurance through haptic feedback, eye-tracking camera control and 3D visualization. Asen…

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Swiss hospital to begin program with Asensus’ Senhance robotic surgical system

Asensus Surgical (NYSE:ASXC) announced today that a Swiss hospital initiated a program with the Senhance robotic surgical system.

Inselspital, University Hospital Bern, Switzerland initiated its Senhance surgical system program, marking the second of two new agreements with two European hospitals in 2021, according to a news release. The university’s department of visceral surgery is implementing the digital platform in their daily surgical practice with plans to study its clinical utility over the coming months.

Senhance, touted as a first-of-its-kind digital laparoscopic platform, uses augmented intelligence to offer strong performance and patient outcomes through machine learning. Surgical assistance with the Senhance system includes haptic feedback, eye-tracking camera control and 3D visualization.

“Inselspital University Hospital in Bern is the largest University hospital group in Switzerland,” Asensus Surgical president & CEO Anthony Fern…

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Asensus Surgical posts Q1 earnings beat

Asensus Surgical (NYSE:ASXC) shares are down today — a day after the company posted Q1 results that edged the consensus earnings forecast.

The Research Triangle Park, N.C.-based robotic surgery company — formerly known as TransEnterix — posted losses of -$17.3 million, or -8¢ per share, on sales of $2.1 million for the three months ended March 31, 2021, for a -4.5% bottom-line slide despite more than tripled revenue totals.

Adjusted to exclude one-time items, earnings per share were -6¢, coming in 1¢ ahead of analysts’ projections on Wall Street.

“We were pleased with our performance during the first quarter and with our strong start to the year. We acknowledge the pandemic around the world is still having impacts, but I’m encouraged by the signs of recovery this quarter,” Asensus Surgical president & CEO Anthony Fernando said in a news release yesterday evening. “We submitted for 510(k) clearance for articulating instruments, received FD…

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