Ra Medical Archives - Medical Design Sourcing

Ra Medical enrolls 100th patient in clinical study of Dabra laser system

Ra Medical Systems (NYSE:RMED) announced today that it enrolled 100 subjects in a pivotal trial for its Dabra excimer laser system.

Carlsbad, California-based Ra Medical’s pivotal trial will evaluate the safety and effectiveness of Dabra as an atherectomy device for treating peripheral arterial disease (PAD).

The study aims to enroll up to 125 subjects. According to a news release, the “unpredictable nature” of the COVID-19 pandemic means the company can’t accurately predict when enrollment will be completed, but the aim is for the third quarter of 2022 with six-month follow-up to be completed in early 2023, should the study fall in line with expectations.

Ra Medical’s study will enroll subjects with PAD symptoms at up to 10 sites, with outcome measures including safety, acute technical success and clinical success.

The primary efficacy endpoint is the mean reduction in percent diameter stenosis in each patient’s prim…

Ra Medical closes $12.1M offering

Ra Medical Systems (NYSE:RMED) announced today that it closed its previously announced $12.1 million public offering.

Carlsbad, California-based Ra Medical last week confirmed the pricing of the public offering but did not specify its intended use of proceeds.

The company, which develops an excimer laser system for treating vascular diseases, offered more than 9.5 million units, priced at a public offering price of 50¢ per unit. Each unit consists of one share of common stock, one warrant to purchase one share of common stock at an exercise price of 50¢ per share that expires on the first anniversary of the date of issuance (Series A warrant) and one warrant to purchase one share of common stock at the same price that expires on the seventh anniversary of the date of issuance (Series B warrant).

The company had confirmed when announcing the pricing that it expected the offering to close today, Feb. 8. Ladenburg Thalmann & Co. Inc. acted as the sole …

Ra Medical prices $12M offering

Ra Medical Systems (NYSE:RMED) announced today that it priced an underwritten public offering worth proceeds of approximately $12 million.

Carlsbasd, California-based Ra Medical, a developer of an excimer laser system for treating vascular diseases, did not provide an intended use for the proceeds.

According to a news release, the offering includes more than 9.5 million units, priced at a public offering price of 50¢ per unit. Each unit consists of one share of common stock, one warrant to purchase one share of common stock at an exercise price of 50¢ per share that expires on the first anniversary of the date of issuance (Series A warrant) and one warrant to purchase one share of common stock at the same price that expires on the seventh anniversary of the date of issuance (Series B warrant).

The offering also includes nearly 14.5 million pre-funded units, priced at a public offering price of $0.4999 per unit. Each of those units contains one pre-funded…

MedTech 100 roundup: On the rise again

After a slight hiccup disrupted weeks of improvement, the medtech industry again flexed its muscles over the last seven days.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (Aug. 20) at 119.63 points, representing a 1.5% rise from the 117.92-point tally set a week prior.

The shift marks a quick rebound from the -1.2% dip observed in the previous week and the index now sits at its highest week-ending mark ever, having actually hit an all-time best of 119.72 points on Aug. 17.

Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry remains well above the marks set around the height of the pandemic, having registered a 29.6% 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 an 92.5% asc…

Strata Skin Sciences buys Ra Medical’s Pharos dermatology business

Strata Skin Sciences (NSDQ:SSKN) announced that it acquired the Pharos dermatology business from Ra Medical (NYSE:RMED).

Horsham, Pa.-based Strata can now market its full business solution to Ra Medical’s existing customer base comprised of 400 dermatology practices, offering opportunities to increase its recurring revenue base and a pathway to gain additional placements for its XTRAC excimer laser system, according to a news release.

Ra Medical’s Pharos excimer laser system holds FDA clearance for the treatment of chronic skin diseases, including psoriasis, vitiligo, atopic dermatitis and leukoderma.

Under the acquisition, Strata will acquire Ra Medical’s dermatology business in an asset transaction with an upfront cash payment of approximately $3.7 million for certain assets and the assumption of estimated customer warranty and service agreement liabilities, among other assumed liabilities.

“As we sought opportunities to furthe…

Ra Medical threatened with stock exchange delisting

Ra Medical Systems (NYSE:RMED) announced today that it received notice that is is no longer in compliance with the New York Stock Exchange’s listing standards.

The Carlsbad, Calif.-based company learned that it is not complying with the NYSE continued listing standard that requires companies to maintain an average closing share price of at least $1 over a consecutive 30-trading-day period.

The company develops the Dabra minimally-invasive excimer laser system. The Dabra system is designed to destroy arteriosclerotic blockages through the use of radiation ablation. The system won FDA 510(k) clearance in May 2017 for the treatment of occlusive peripheral vascular disease after the artherectomy catheter system received CE Mark approval in October 2016.

Get the full story on our sister site MassDevice.

Ra Medical threatened with stock exchange delisting

Ra Medical Systems (NYSE:RMED) announced today that it received notice that is is no longer in compliance with the New York Stock Exchange’s listing standards.

The Carlsbad, Calif.-based company learned that it is not complying with the NYSE continued listing standard that requires companies to maintain an average closing share price of at least $1 over a consecutive 30-trading-day period.

Currently, Ra Medical Systems shares are trading down -4.7% at 45¢ per share in mid-morning trading, standing 55¢ beneath the listing requirement. The company’s common stock must have a closing price of at least $1 per share and an average closing price of at least $1 per share over a 30-trading-day period in order to regain compliance, otherwise, it faces suspension and delisting.

Ra Medical now has a six-month period to regain compliance with the average closing share price requirement. During the COVID-19 pandemic, the NYSE is tolling compliance periods …

Ra Medical Systems prices $10m public offering

Ra Medical Systems (NYSE:RMED) announced today that it priced a public offering of its common stock with gross proceeds expected to reach approximately $10 million.

The Carlsbad, Calif.-based company is offering more than 22.2 million shares of common stock (or common stock equivalents) with accompanying warrants to purchase up to 22.2 million shares of common stock, all at a price of 45¢ per share and accompanying warrant.

Warrants included in the offering have an exercise price of 45¢ per share, are immediately exercisable and expire five years after the date of issuance. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

Ra Medical expects to close the offering on May 22, with the $10 million in proceeds expected, assuming none of the warrants issued are exercised for cash. The company plans to use the proceeds for general corporate purposes, including its atherectomy indication trial, engineering efforts and suppor…