Streetwise Reports Examines Biotech Company that Receives Device Approval in Five More Countries and Revenue Increases 122% YOY
SAN FRANCISCO, CA--(Marketwired - October 26, 2017) - Maxim Group reported on this firm's Q3/17 earnings, as well as its progress in obtaining international regulatory clearances for its medical system.
Included in this article is: Viveve Medical Inc. (VIVE)
According to an Oct. 18 research note by Maxim analyst Anthony Vendetti, Viveve Medical Inc.'s preliminary Q3/17 revenue of about $4.1 million was "up roughly 122% year over year, relatively in line with our estimate of $4.2M and above consensus of $3.7M."
Based on the quarter's results, Vendetti concluded, "We would continue to be buyers of Viveve after announcing preliminary Q3/17 revenue above the consensus estimate."
The analyst noted this women's health and wellness company "continues to build its installed base and make progress with additional international regulatory clearances."
For instance, in Q3/17, the company shipped 60 Geneveve systems, taking the number of installed machines to 365, and sold approximately 2,700 related consumables.
Additionally, Viveve "announced new regulatory clearances for the product in five additional countries," Vendetti said. Those are Bahrain, Kuwait, Qatar and Mexico for the treatment of vaginal laxity, and Taiwan for electrocoagulation to achieve hemostasis during surgery.
Continue reading this article: Biotech Receives Device Approval in Five More Countries; Revenue Up 122% YOY
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