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Catheter Precision(VTAK) - 2023 Q1 - Quarterly Report
2023-06-02 21:22
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 March 31, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 001-38677 Ra Medical Systems, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or 1670 Highway 160 West, Suite 205 Fort Mil ...
Catheter Precision(VTAK) - 2022 Q4 - Annual Report
2023-03-28 21:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file number: 001-38677 Ra Medical Systems, Inc. (Exact name of Registrant as specified in its charter) Delaware 38-3661826 (State or other jurisdiction of incor ...
Catheter Precision(VTAK) - 2022 Q3 - Quarterly Report
2022-11-14 22:03
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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file number: 001-38677 Ra Medical Systems, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or ...
Catheter Precision(VTAK) - 2022 Q2 - Quarterly Report
2022-08-15 22:22
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 June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file number: 001-38677 Ra Medical Systems, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...
Catheter Precision(VTAK) - 2022 Q1 - Earnings Call Transcript
2022-05-17 02:25
Ra Medical Systems, Inc. (RMED) Q1 2022 Earnings Conference Call May 16, 2022 4:30 PM ET Company Participants Bruce Voss - LHA Will McGuire - Chief Executive Officer Andrew Jackson - Chief Financial Officer Conference Call Participants Jeffrey Cohen - Ladenburg Thalmann Operator Good day, and welcome to the Ra Medical Systems First Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Bruce Voss. Please go a ...
Catheter Precision(VTAK) - 2022 Q1 - Quarterly Report
2022-05-16 20:51
Financial Performance - Ra Medical Systems, Inc. reported net revenue of $9,000 for the three months ended March 31, 2022, compared to $4,000 in the same period of 2021, reflecting an increase due to catheter sales to clinical trial sites [96]. - For the three months ended March 31, 2022, the company reported a loss from continuing operations of $5.5 million, an improvement from a loss of $6.9 million in the same period of the prior year [106]. - Adjusted EBITDA for the same period was $(5.1) million, a decrease in negative Adjusted EBITDA of $0.9 million compared to $(6.0) million in the prior year, primarily due to reduced SG&A expenses [106]. - Net cash used in operating activities was $8.6 million for the three months ended March 31, 2022, compared to $8.1 million in the same period of 2021 [119]. - The company raised $11.2 million in net cash from financing activities during the three months ended March 31, 2022, primarily from a public offering [122]. Cost Management - The cost of revenue decreased by $352,000 to $95,000 for the three months ended March 31, 2022, primarily due to reductions in labor and overhead costs from cost-saving initiatives [99]. - Selling, general and administrative (SG&A) expenses decreased by $1.4 million to $2.3 million for the three months ended March 31, 2022, driven by reductions in stock-based compensation, legal expenses, and personnel costs [100]. Research and Development - Research and development (R&D) expenses increased by $365,000 to $3.1 million for the three months ended March 31, 2022, mainly due to higher costs associated with next-generation catheter engineering efforts and clinical study expenses [101]. - The company is conducting research on using DABRA-derived technology for lithotripsy to fracture calcium in arteries, with plans for a preclinical study in the near future [85]. Strategic Initiatives - The company is exploring strategic alternatives that may include financing for the atherectomy trial or a potential business combination, with a focus on maximizing stockholder value [86]. - The company is reviewing strategic alternatives that may include financing for clinical trials or potential business combinations [114]. Operational Challenges - The ongoing COVID-19 pandemic continues to impact the company's operations, particularly in terms of clinical trial enrollment and manufacturing delays [89]. - The company anticipates that the COVID-19 pandemic will continue to negatively impact its clinical trial enrollment and financing efforts [109]. - There is substantial doubt regarding the company's ability to continue as a going concern for the next twelve months, which may hinder its ability to secure financing or complete strategic transactions [88]. - There is substantial doubt regarding the company's ability to continue as a going concern for at least 12 months from the date of the financial statements [116]. Financial Position - As of March 31, 2022, the company had cash and cash equivalents of $17.7 million and an accumulated deficit of $183.8 million [107]. - As of March 31, 2022, the company had cash and cash equivalents of $17.7 million [128]. - The company's investment policy focuses on liquidity and capital preservation, avoiding trading or speculative investments [128]. - A hypothetical 10% relative change in interest rates would not have materially impacted the company's financial statements [128]. - The company does not believe inflation has materially affected its business or financial condition [129]. - Significant inflationary pressures could lead to higher costs that the company may not fully offset, potentially harming its operations [129]. Sales and Marketing - The company is currently not selling commercial products and is only providing catheters for its atherectomy clinical trial [91]. - The company has experienced a decrease in its DABRA sales force from 34 employees in June 2019 to 6 clinical specialists as of March 31, 2022 [109].
Catheter Precision(VTAK) - 2021 Q4 - Earnings Call Transcript
2022-03-24 00:36
Ra Medical Systems, Inc. (RMED) Q4 2021 Earnings Conference Call March 23, 2022 4:30 PM ET Company Participants Jody Cain - IR, LHA Investor Relations Will McGuire - Chief Executive Officer and Director Andrew Jackson - Chief Financial Officer Conference Call Participants Jeffrey Cohen - Ladenburg Thalmann Vernon Bernardino - HC Wainwright Operator Good afternoon. And welcome to the Ra Medical Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is b ...
Catheter Precision(VTAK) - 2021 Q4 - Annual Report
2022-03-23 23:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION item13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file number: 001-38677 Ra Medical Systems, Inc. (760) 804-1648 (Registrant's telephone number, including area code) Securities registered pursuant to Sectio ...
Catheter Precision(VTAK) - 2021 Q3 - Earnings Call Transcript
2021-11-16 01:28
Ra Medical Systems, Inc. (RMED) Q3 2021 Earnings Conference Call November 15, 2021 4:30 PM ET Corporate Participants Jody Cain - LHA Investor Relations Will McGuire - Chief Executive Officer Andrew Jackson - Chief Financial Officer Conference Call Participants Vernon Bernardino - HC Wainwright Operator Hello and welcome to the Ra Medical Systems Third Quarter 2021 Financial Results Conference Call. All participants are now in a listen-only mode. [Operator Instructions] Please note today’s event is being rec ...
Catheter Precision(VTAK) - 2021 Q3 - Quarterly Report
2021-11-15 21:29
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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file number: 001-38677 Ra Medical Systems, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or ...