RESEARCH TRIANGLE PARK, N.C., March 21, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC), a medical device company that is digitizing the interface between the surgeon and the patient, announced its operating and financial results for the fourth quarter and full year 2023. Full Year Highlights Completed in vivo evaluation of the LUNA™ Surgical System by nine independent surgeons through thirteen procedures across gynecology, urology, and general surgeryOver 3,550 surgical procedures were performe ...

RESEARCH TRIANGLE PARK, N.C., March 15, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE American: ASXC), a medical device company that is digitizing the interface between the surgeon and the patient, announced today that it plans to release fourth quarter and full year 2023 financial and operating results after the market closes on Thursday, March 21, 2024. The Company will host a conference call to discuss these results starting at 4:30 p.m. ET the same day. The call will be concurrently webcast. To ...

RESEARCH TRIANGLE PARK, N.C., March 15, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE American: ASXC), a medical device company that is digitizing the interface between the surgeon and the patient, announced today that it plans to release fourth quarter and full year 2023 financial and operating results after the market closes on Thursday, March 21, 2024. The Company will host a conference call to discuss these results starting at 4:30 p.m. ET the same day. The call will be concurrently webcast. To ...

A downtrend has been apparent in Asensus Surgical (ASXC) lately with too much selling pressure. The stock has declined 25.2% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, fo ...

With so many question marks facing the viability of the equities sector, concerned investors may want to turn their attention to compelling healthcare stocks. Primarily, the sector benefits from permanent relevance. It’s in a nation’s best interest to keep its citizenry healthy and productive, meaning that there will always be funds directed toward the broader health and wellness space.Another factor that could bolster healthcare stocks is its relative insulation from the economy. Now, don’t get me wrong – ...

Asensus Surgical, Inc. (ASXC) achieved a new milestone in the development of its second-generation surgical robotic system, LUNA. The recently conducted Surgeon Lab in Research Triangle Park, NC allowed nine surgeons to conduct in vivo evaluations across various procedures, including gynecology, urology and general surgery.This marked a pivotal step in LUNA's evolution in the booming field of surgical robotics.More on the NewsAsensus Surgical highlighted the positive responses received from participating su ...

Asensus Surgical, Inc. (NYSE:ASXC) Q3 2023 Earnings Conference Call November 14, 2023 4:30 PM ET Company Participants Mark Klausner - IR, Westwicke Partners Anthony Fernando - President and CEO Shameze Rampertab - CFO Conference Call Participants Swayampakula Ramakanth - H.C. Wainwright Ross Osborn - Cantor Fitzgerald Operator Good afternoon and welcome to the Asensus Surgical Inc. Third Quarter Financial and Operating Result Conference Call. At this time, all participants are in a listen-only mode. Followi ...

Table of Contents Title of each class Trading symbol Name of each exchange on which registered Common Stock $0.001 par value per share ASXC NYSE American UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________ FORM 10-Q _________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO S ...

Asensus Surgical, Inc. (NYSE:ASXC) Q2 2023 Earnings Conference Call August 1, 2023 4:30 PM ET Company Participants Mark Klausner - Westwicke Partners Anthony Fernando - President and Chief Executive Officer Shameze Rampertab - Chief Financial Officer Conference Call Participants RK Ramakanth - H.C. Wainwright & Co. Operator Good afternoon, and welcome to the Asensus Surgical Second Quarter 2023 Business and Financial Update Call. All participants will be in listen-only mode. [Operator Instructions] After to ...

Financial Performance - The company reported an accumulated deficit of $903.8 million as of June 30, 2023, raising substantial doubt about its ability to continue as a going concern [95]. - Revenue for the three months ended June 30, 2023, remained constant at approximately $0.3 million for product sales, while service revenue decreased to $0.3 million from $0.4 million in the same period of 2022 [98]. - Lease revenue increased to $0.5 million for the three months ended June 30, 2023, compared to $0.3 million for the same period in 2022, primarily due to an increase in the number of lease placements [98]. - The company had an accumulated deficit of $903.8 million and working capital of $44.3 million as of June 30, 2023, indicating a need for additional capital to continue operations [118]. - Cash used in operating activities for the six months ended June 30, 2023 was $35.2 million, compared to $30.2 million for the same period in 2022 [123]. - Net cash provided by investing activities for the six months ended June 30, 2023 was $36.3 million, an increase from $23.2 million for the same period in 2022 [125]. - The company recognized $0.1 million income tax expense for the six months ended June 30, 2023, down from $0.2 million for the same period in 2022 [117]. Expenses - Research and development expenses increased by 23% to $9.0 million for the three months ended June 30, 2023, compared to $7.3 million in the same period of 2022 [102]. - Sales and marketing expenses rose by 22% to $4.4 million for the three months ended June 30, 2023, compared to $3.6 million in the same period of 2022 [103]. - Product cost for the six months ended June 30, 2023 increased to $2.8 million, up from $1.3 million for the same period in 2022, representing a 115% increase [111]. - R&D expenses for the six months ended June 30, 2023 increased 39% to $19.1 million compared to $13.7 million for the same period in 2022, driven by increased contract engineering services and personnel costs [113]. - Sales and marketing expenses for the six months ended June 30, 2023 increased 23% to $9.0 million compared to $7.3 million for the same period in 2022, primarily due to increased employee-related costs [114]. - General and administrative expenses for the six months ended June 30, 2023 slightly increased to $10.6 million from $10.5 million for the same period in 2022 [114]. - Lease cost increased to $0.9 million for the three months ended June 30, 2023, compared to $0.8 million for the same period in 2022, reflecting the growth in lease placements [101]. Regulatory and Product Developments - The company received FDA clearance for the LUNA Surgical System and the ISU, enhancing its digital surgery capabilities [90][92]. - The Senhance System is available for sale in multiple countries, including the U.S., Europe, Japan, and Taiwan, with regulatory approvals for various surgical procedures [89]. - The company anticipates that the robotic precision of the Senhance System will enhance surgical outcomes, particularly in pediatric hospitals following recent FDA clearance for pediatric indications [91]. Internal Controls and Compliance - As of June 30, 2023, the company’s disclosure controls and procedures were deemed ineffective due to a material weakness in internal control over financial reporting [135]. - The identified material weakness relates to the design and implementation of information technology general controls (ITGCs) for the new global enterprise resource planning system (ERP) [136]. - No misstatements were identified in the consolidated interim financial statements, which fairly present the company's financial position in accordance with U.S. GAAP [137]. - Remediation efforts are ongoing, focusing on improving user access controls and enhancing training for personnel regarding ITGC objectives [138]. - There were no material changes in internal control over financial reporting during the quarter ended June 30, 2023, that could materially affect the controls [136]. - The material weakness will not be considered remediated until effective controls are designed, implemented, and tested over a sufficient period [138]. - The certifications of the Chief Executive Officer and Chief Financial Officer were filed in compliance with the Sarbanes-Oxley Act of 2002 [140]. Legal and Risk Factors - The company has not disclosed any legal proceedings or material changes to risk factors since the last report [139]. - No unregistered sales of equity securities or defaults upon senior securities were reported during the period [139]. - The company issued a Common Stock Purchase Warrant on July 31, 2023, as part of its financing activities [140]. Shareholder Activities - The company generated net proceeds of $0.2 million from the sale of 355,072 shares of common stock during the three months ended June 30, 2023 [96].