Dextera Surgical Inc (NASDAQ:DXTR) Stock Gives Up Gains

Dextera Surgical Inc (NASDAQ:DXTR)

Shares of Dextera Surgical Inc (NASDAQ:DXTR) stock tumbled 12.74% after the company reported a net loss of $3.1 Million for the fourth quarter ended June 30, 2017. News of the net loss comes weeks after the company initiated a temporary shipping hold on its flagship MicroCutter 5/80 Stapler and reload cartridges.

Wednesday’s sell-off plunged Dextera Surgical Inc (NASDAQ:DXTR) stock  close to its 52-week low of $0.17 a share. The company’s stock is currently trading in a tight $0.24 to $0.25 trading range inside a strong downtrend.

Dextera Stock Price Chart:

Dextera Surgical Inc (NASDAQ:DXTR)
One month stock price chart for DXTR

Dextera Q4 Earnings Report

Dextera Surgical Inc (NASDAQ:DXTR) is a medical device company that develops proprietary stapling devices for minimally invasive surgical procedures. MicroCutter 5/80 is the company’s lead product used for thoracic pediatric colorectal and general surgeries. The company also develops anastomotic systems for use by cardiac surgeons.

The medical device company generated sales of $1 million in the fourth quarter compared to $0.7 million for the corresponding period last year. MicroCutter sales in the quarter stood at $359,000 down from $516,000 as of the third quarter. The company attributes the decline to a backorder for the blue reload cartridges and shipping hold at the end of the quarter.

“We have identified and addressed the cause for the premature lock out of the MicroCutter 5/80 surgical staplers announced on July 6th, and after extensive in-house testing of the modification, we resumed shipping to our customers,” said Julian Nikolchev, president, and CEO of Dextera Surgical Inc.

Dextera Surgical Inc (NASDAQ:DXTR) exited the fourth quarter with cash and cash equivalent of $6 million compared to $2.5 million as of the end of the third quarter.

Corporate Highlights

During the quarter, Dextera Surgical Inc (NASDAQ:DXTR) executed a strategic partnership with B Braun for the distribution of the MicroCutter 5/80 Stapler. Under the terms of the agreement, B Braun Surgical will distribute the stapler directly and through indirect sales representatives in Spain.

In a bid to meet growing demand for the MicroCutter 5/80, Dextera Surgical is in the process of optimizing its supply chain as it also works on increasing production capacity to 120 MicroCutter by the end of the year. There are also plans to increase the device’s indications to expand its usage into liver pancreas Kidney and spleen surgery.

Dextera Surgical Inc (NASDAQ:DXTR) has also entered into a co-development project with Intuitive Surgical for the development of a new robotic stapler based on the current MicroCutter technology

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Dextera Surgical Inc (NASDAQ:DXTR) Reports $1.1 Million Revenue Drop

Dextera Surgical Inc (NASDAQ:DXTR)

Dextera Surgical Inc (NASDAQ:DXTR) has announced its financial results covering fiscal third quarter plus the nine months ended March 31, 2017. The company reported a slight drop its revenue to $1.1 million from around $1.9 million reported in fiscal 2016 third quarter. In the third quarter of fiscal 2016 the company reported approximately $1.4 million from the extension of its agreement with Intuitive Surgical.

Total product sales amounted to around $1.0 million in fiscal 2017 third quarter up from the $0.5 million reported a year ago. During the period, the company reported $516,000 from sale of its MicroCutter compared to $19,000 that was reported in the fiscal 2016 third quarter. The MicroCutter was recently highlighted and discussed at the 25th edition of the European Conference on General Thoracic Surgery which was held in Innsbruck, Austria. The presentations showcased the less invasive procedural approaches which are enabled by MicroCutter. There has been growing interest in MicroCutter 5/80 as it gains in acceptance from surgeons.

During the quarter, Dextera Surgical Inc (NASDAQ:DXTR) reported $5.5 million in total operating costs, up from $4.8 million that was reported a year ago. Cost for the sale of its products amounted to $1.3 million, up from the $0.9 million that was reported in fiscal 2016 third quarter. The company further incurred $2.0 million in research and development expenses, an increase from the $1.6 million that was reported in the third quarter of fiscal 2016. General and administrative expenses dropped to$2.1 million from the $2.3 million reported a year ago.

Dextera Surgical Inc (NASDAQ:DXTR) further reported approximately (-$4.5) million or (-$0.50) per share in net quarterly loss for the third quarter of fiscal 2017. This is an increase from the (-$3.0) million or (-$0.34) per share reported in the third quarter of fiscal 2016.

At the close of the quarter, the company had approximately $2.5 million in cash, cash equivalents, and short-term investments. This is compared to $5.8 million that the company had at the close of the last financial year. Additionally, the company had 8.9 million outstanding shares or common stock and 191,474 preferred shares.

Dextera Surgical Inc (NASDAQ:DXTR) is projecting $600,000 to $700,000 in sales from MicroCutter for the quarter ending June 30, 2017. This is a downward revision from the company’s earlier projection of $700,000 to $800,000. The revision in guidance results from backorders of the blue reload cartridge. The company expects to generate $1.4 million to $1.5 million in MicroCutter product sales for the fiscal 2017.

According to Dextera Surgical Inc (NASDAQ:DXTR) president and CEO, Julian Nikolchev, the company’s MicroCutter is expected to increase in demand both in the United States and Europe.

Dextera Surgical Inc (NASDAQ:DXTR) stock reported a 8.08% gain or $0.014 to close the session at $0.186 per share and a market cap of $1.50M.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.


About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.


Dextera Surgical Inc. (NASDAQ:DXTR) Shares React to Scandinavian Presentation

Dextera Surgical Inc. (NASDAQ:DXTR)

Dextera Surgical Inc. (NASDAQ:DXTR) was the subject of a presentation provided to the Scandinavian Society for Research in Cardiothoracic Surgery. That presentation propelled shares of Dextera to a 30% gain for the day. DXTRA, a thinly traded nano-cap stock, ended Friday at $1.14, hit a high of $1.98, and then closed at $1.49. The average daily volume, before today, was 275,200 shares but trading was heavy and over 6.8 million shares ended up trading hands.

The data showed that the use of Dextera’s MicroCutter 5/80 surgical stapler reduced postoperative pain and complications compared to traditional open procedures. Dr. Marco Nardini, M.D., from James Cook University Hospital in Middlesbrough, UK, presented the latest data on the results of 82 patients undergoing Microlobectomy. The data demonstrated that for Microlobectomy procedures, the median hospital stay is reduced by at least two days when compared to traditional open lobectomy procedures, with over 20 percent of patients going home the day after surgery. For the 82 patients undergoing a Microlobectomy, the median length of hospital stay was three days, with 17 patients (20.7%) discharged the day after surgery and an additional 14 patients (17%) discharged two days after surgery.

Dextera Surgical Inc. (NASDAQ:DXTR) designs and manufactures proprietary stapling devices that enable the advancement of 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, 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 may reduce the amount of dissection and tissue handling required to position the stapler in confined spaces, enabling access to difficult-to-reach anatomy.

EPS losses for Dextera Surgical Inc. (NASDAQ:DXTR) have been reducing each year since 2012 when the company posted an EPS loss of $4.44. In 2015 that EPS loss shrank to $1.79. In 2016 Dextera finally broke through $4 million in sales after posting sales figures between $3 and $3.7 million from 2012 through 2015. The two firms that follow Dextera Surgical Inc. (NASDAQ:DXTR) are split on their analysis. One rates DXTR shares as a “Strong But” while the other rates the shares as a “Hold”.

Ticker Symbol DXTR
Last Price a/o 4:00 PM EST  $                      1.48
Average Volume                    275,200
Market Cap (mlns)  $                    10.10
Sales (mlns) $3.90
Shares Outstanding (mlns) 8.86
Share Float (mlns) 8.61
Shortable Yes
Optionable Yes
Inside Ownership 0.30%
Short Float 3.48%
Short Interest Ratio 1.09
Quarterly Return -19.72%
YTD Return 18.75%
Year Return -69.76%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.