Dextera Surgical Provides Corporate Update
January 05 2017 - 8:00AM
Business Wire
– Momentum Building for MicroCutter 5/80
Surgical Stapler –
– Sales Increasing to Key Opinion Leaders in
U.S. and Europe –
– Continued Enrollment in MATCH Registry –
Dextera Surgical Inc. (NASDAQ:DXTR), manufacturer of the
smallest-profile and most maneuverable articulating surgical
stapling platform on the market for minimally invasive surgery,
today provided a corporate update on positive developments for the
MicroCutter 5/80 and corporate milestones for the remainder of
fiscal 2017.
Based on anticipated sales growth in the United States and
Europe, Dextera Surgical expects to report MicroCutter product
sales of $260,000 to $280,000 for the second quarter of fiscal
2017, ended December 31, 2016. For the third quarter of fiscal 2017
ending March 31, 2017, Dextera expects to report MicroCutter
product sales of $400,000 to $500,000 and for the fourth quarter of
fiscal 2017 product sales of $700,000 to $800,000. Total
MicroCutter product sales for fiscal 2017 are expected to be $1.4
million to $1.6 million compared to $0.4 million for fiscal
2016.
Dextera Surgical is on track to achieve the following milestones
by June 30, 2017:
- Increase production capacity to 120
units per week by March 31, 2017, ahead of sales growth
- Expand the number of reordering
surgeons to 75, from 20 today
- Complete enrollment of 80 to 120
patients in the MATCH Registry Trial; 14 are enrolled in three
centers today
- Demonstrate success in Spain with the
B. Braun collaboration
- Raise additional capital through
strategic partnerships
“We began a controlled commercial launch of the MicroCutter 5/80
in November, and while it is still early in our commercial launch,
we believe we have enough feedback from surgeons and insight into
the market to provide initial guidance on MicroCutter sales for the
remainder of fiscal 2017. At this time, it is not our intent to
give ongoing product sales guidance but we wanted to provide some
visibility to the demand we are seeing for the MicroCutter 5/80,”
said Julian Nikolchev, president and CEO of Dextera Surgical. “We
move into calendar 2017 with confidence that we are poised for
growth and accelerating momentum, as we build on the solid
foundation of our recent product performance and increasing surgeon
interest.”
About Dextera Surgical
Dextera Surgical (NASDAQ:DXTR) designs and manufactures
proprietary stapling devices for minimally invasive surgical
procedures. In the U.S., surgical staplers are routinely used in
more than one million minimally invasive laparoscopic,
video-assisted or robotic-assisted surgical procedures
annually.
The company's signature proprietary technology, the MicroCutter
5/80 Stapler, is the world's first and only five-millimeter
surgical stapler that articulates to 80 degrees in each direction.
As the smallest-profile articulating stapler available today, the
MicroCutter 5/80 Stapler may reduce the amount of dissection and
tissue handling required to position the stapler in confined
spaces, enabling access to difficult-to-reach anatomy. The
cartridge-based device's small size and wide articulation range are
designed to enhance the surgeon's access and visualization at the
surgical site and to mitigate limitations on the advancement of
minimally invasive surgical approaches created by larger stapling
devices.
Dextera Surgical also markets the only automated anastomosis
devices for coronary artery bypass graft (CABG) surgery on the
market today: the C-Port® Distal Anastomosis Systems and PAS-Port®
Proximal Anastomosis System. These products, sold by Dextera
Surgical under the Cardica brand name, have demonstrated long-term
reliable clinical performance for more than a decade.
Forward-Looking Statements
The statements in this press release regarding Dextera
Surgical’s expectations as to the sales growth of the MicroCutter
5/80 for the second quarter and the remainder of fiscal 2017, and
expected milestones to be achieved by June 30, 2017, are
"forward-looking statements." There are a number of important
factors that could cause Dextera Surgical’s results to differ
materially from those indicated by these forward-looking
statements, including: surgeon demand for the MicroCutter 5/80 may
not be as much as Dextera Surgical expects due to hospital internal
policies or other factors beyond Dextera Surgical’s control; and
other risks detailed from time to time in Dextera Surgical’s
reports filed with the U.S. Securities and Exchange Commission,
including its Quarterly Report on Form 10-Q for the quarter
ended September 30, 2016, under the caption “Risk Factors.”
Dextera Surgical expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements contained herein. You are encouraged to read Dextera
Surgical’s reports filed with the U.S. Securities and Exchange
Commission, available at www.sec.gov.
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Dextera Surgical Inc.Investors:Bob Newell, +1 650-331-7133Vice
President, Finance and Chief Financial
Officerinvestors@dexterasurgical.com