AtriCure stock rises on Street-beating Q1

AtriCure (Nasdaq:ATRC) shares are trending upward today on first-quarter results that beat the consensus forecast.

Shares of ATRC ticked up 6.2% at $42.65 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.2%.

The Mason, Ohio-based cardiovascular care company posted losses of $6.5 million for the quarter. That amounts to losses of 14¢ per share on sales of $93.5 million for the three months ended March 31, 2023.

AtriCure recorded an $8.7 million bottom-line gain on sales growth of 25.4%. The company said its first-quarter performance reflects the leverage of its operations and production efficiencies. Continued supply chain cost increases and a shift in product mix offset some of that performance.

Adjusted to exclude one-time items, losses per share totaled 23¢. That landed 11¢ ahead of Wall Street projections. Meanwhile, sales topped expectati…

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AtriCure treats first patient in stroke prevention trial

AtriCure (Nasdaq:ATRC) announced today that it treated the first patient in its left atrial appendage exclusion for stroke prevention (LeAAPS) trial.

U.S. co-principal investigator Dr. Marc Gerdisch treated the first patient at Franciscan St. Francis Heart Center in Indianapolis.

The prospective, randomized, blinded investigational device exemption (IDE) trial will evaluate the safety and effectiveness of AtriClip. Mason, Ohio–based AtriCure designed AtriClip for the prevention of ischemic stroke or systemic arterial embolism. The LAA exclusion system treats cardiac surgery patients at elevated risk for these events with no history of AFib.

AtriCure said it expects the trial to enroll up to 6,500 patients across up to 250 centers worldwide. This would make it the largest randomized clinical trial for surgical LAA exclusion, the company said.

“The LeAAPS trial is a landmark study to evaluate the prophylactic use of AtriClip devices for stroke reduc…

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AtriCure beats The Street in Q3

AtriCure (Nasdaq:ATRC) shares were unchanged after hours today on third-quarter results that topped the consensus forecast.

The Mason, Ohio-based cardiac ablation device company posted losses of $12.3 million. That amounts to 27¢ per share on sales of $83.2 million for the three months ended Sept. 30, 2022.

AtriCure reported a massive bottom-line slide into the red despite sales growth of 18.1%. The company said its results reflect the leverage of higher sales volumes offset by inflationary and supply chain cost pressures. Additionally, the company attributed it to a shift in product mix to lower-margin products.

Adjusted to exclude one-time items, losses per share totaled 23¢. That comes in 2¢ ahead of expectations on Wall Street. AtriCure also posted a sales beat as analysts projected revenues of $81.3 million.

“We are proud to share another quarter of strong commercial execution across our business, with excellent EnCompass traction following o…

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AtriCure dips on mixed bag Q2

AtriCure (Nasdaq:ATRC) shares took a slight hit today on second-quarter results that were mixed compared to the consensus forecast.

The Mason, Ohio-based cardiac ablation device company posted losses of $14.8 million, or 32¢ per share, on sales of $84.5 million for the three months ended June 30, 2022, for a slight bottom-line gain on sales growth of 18.4%.

AtriCure’s adjusted losses per share, also registering at 32¢, came in 2¢ behind Wall Street, while sales topped estimates by 6.3%.

“We delivered a remarkable second quarter as we continue changing the standard of care for millions of patients globally,” AtriCure President and CEO Michael Carrel said in a news release. “Our results demonstrate the building strength of our portfolio of solutions, while continued product innovation, clinical science and physician education drive expansive, long-term growth opportunities.”

AtriCure said it expects to log adjusted losses per share of between …

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AtriCure treats first patient in Isolator Synergy clamp trial

[Image from AtriCure]AtriCure (Nasdaq:ATRC) announced today that it treated the first patient in its HEAL-IST clinical trial in Belgium.

Dr. Mark LaMeir and Dr. Carlo de Asmundis treated the first patient in the HEAL-IST trial evaluating the AtriCure Isolator Synergy claimp for treating drug-refractory patients diagnosed with inappropriate sinus tachycardia (IST) at University Hospital Brussels.

“Symptomatic IST is a serious arrhythmia that dramatically decreases the quality of life in predominantly younger adults, and more specifically, young women,” Dr. LaMeir, Head of Cardiac Surgery at University Hospital Brussels and co-principal investigator in the HEAL-IST trial, said in a news release. “Further, since current antiarrhythmic drug treatment has limited long-term effect, and societal guidelines do not advise sinus node ablation or modulation, this landmark study of sinus node sparing hybrid ablation has the potential to establish a standard of care for these …

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AtriCure launches clamp for cardiac tissue ablation

AtriCure (Nasdaq:ATRC) announced today that it launched the EnCompass Clamp as part of its Isolator Synergy ablation system.

Mason, Ohio-based AtriCure received FDA 510(k) clearance for the EnCompass Clamp for the ablation of cardiac tissue during cardiac surgery to make concomitant surgical ablations more efficient.

According to a news release, the platform includes parallel closure, uniform pressure and custom power using Synergy radiofrequency (RF). AtriCure said the new features of the EnCompass Clamp allow for easier placement using a magnetic guide, enabling more efficient procedures by minimizing tissue dissection.

“The EnCompass Clamp provides a simpler and faster approach to ablating the heart in open-chest procedures,” AtriCure President and CEO Michael Carrel said in the release. “We are passionate about innovation, leading to high-quality options for our physician partners. We believe the EnCompass Clamp will meet the unique needs of surgeons…

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These medtech companies care a lot about research

[Image from Unsplash] They’re making glaucoma-treating stents, tumor-treating fields, coin-sized CGMs and more. Discover the medtech companies that spend the most on research as a percentage of revenue.

The list comes from our annual Big 100 report, which examines the world’s 100 largest medical device companies and ranks them by revenue. (Check out our full Big 100 report here.) 

Medtech companies that have spent the most on R&D as a percentage of revenue have had much to boast about:

Glaukos’s iStent inject is an eye implant designed for cataract surgery to reduce intraocular pressure in adults with mild-to-moderate primary open-angle glaucoma. It was a Prix Galien USA Awards nominee last year. Novocure announced in September 2021 that the FDA had granted breakthrough designation for its NovoTTF-200T liver cancer treatment system. NovoTTF-200T system is a tumor treating fields (TTFields) delivery system for use in tandem with atezolizumab and be…
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AtriCure beats The Street in Q2 results

AtriCure (NSDQ:ATRC) posted second-quarter results this week that beat the overall consensus on Wall Street.

The Mason, Ohio-based company reported losses of -$16.3 million, or -36¢ per share, on sales of $71.4 million for the three months ended June 30 for a sales growth of 74.84% compared with Q2 2020.

Adjusted to exclude one-time items, earnings per share were -30¢, 3¢ ahead of The Street, where analysts were looking for sales of $61.1 million.

“Our second-quarter results were driven by outperformance across our business, as strong underlying demand returned and we saw continued progress toward making our platforms the standard of care,” president and CEO Michael Carrel said in a news release. “We are poised for accelerating growth with the recent FDA approval of our EPi-Sense system to improve the lives of millions of patients with long-standing persistent Afib. This approval enriches the foundation of our company, built on core technologies which co…

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AtriCure AFib treatment device wins FDA approval

AtriCure (NSDQ:ATRC) announced today that the FDA approved its EPi-Sense system for treating long-standing persistent Afib.

Mason, Ohio-based AtriCure’s EPi-Sense system demonstrated superiority in the Hybrid AF therapy arm compared to endocardial catheter ablation alone in the Converge clinical trial, according to a news release.

AtriCure’s Hybrid AF therapy is a minimally invasive procedure designed to provide a long-lasting solution for long-standing persistent Afib patients.

In patients diagnosed with long-standing persistent Afib, the Hybrid AF therapy arm presented a 29% absolute difference in efficacy at 12 months (78% relative improvement) and an absolute difference of 35% at 18 months (110% relative improvement).

Afib burden was reduced by 33% in the Hybrid AF group at 12 months and increased to 37% at 18 months, with the Converge trial proving that the Hybrid AF therapy offers durable, sustained efficacy, AtriCure said.

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AtriCure names Angie Wirick as chief financial officer

AtriCure (NASDAQ:ATRC) recently announced that it has appointed Angie Wirick as chief financial officer, effective August 6.

Wirick, who was VP of finance, replaces Andy Wade who is stepping down for personal reasons and will continue to serve in an advisory role through March 5, 2021.

“On behalf of our team at AtriCure and our Board of Directors, I want to thank Andy for his contributions to our company over the past 13 years,” president and CEO Michael Carrel said in a news release. “Andy has been instrumental to our global success and position of financial strength. Through his strong leadership, we achieved critical milestones to build AtriCure’s foundation and position our company for accelerated growth. These accomplishments have propelled our company to new levels of success and created significant shareholder value.”

Wirick joined AtriCure in 2014. She held a number of leadership roles at Deloitte & Touche prior to joining the company.

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