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    Asensus Surgical, Inc. Reports Operating and Financial Results for the Fourth Quarter and Full Year 2022

    3/2/23 4:05:00 PM ET
    $ASXC
    Medical/Dental Instruments
    Health Care
    Get the next $ASXC alert in real time by email

    RESEARCH TRIANGLE PARK, N.C., March 02, 2023 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC), a medical device company that is digitizing the interface between the surgeon and the patient to pioneer a new era of Performance-Guided Surgery™(PGS), today announced its operating and financial results for the fourth quarter and full year 2022.

    As the Company hosted an Investor Day on Tuesday, February 21, 2023 during which an in-depth review of the business was provided, the Company will not be hosting an earnings conference call in conjunction with this earnings release.

    Recent Highlights

    • In February 2023, unveiled plans for the LUNA™ Surgical System, its next generation digital surgery platform
    • In February 2023, announced the intention to collaborate with KARL STORZ on developing next-generation instrumentation and an agreement in which KARL STORZ intends to sell the Company's Intelligent Surgical Unit™ (ISU™) as a standalone device
    • In February 2023, announced a multi-year collaboration with Google Cloud to further expand the capabilities of the Company's Performance-Guided Surgery framework enabled through the ISU
    • In January 2023, received CE Mark for expanded machine vision capabilities within the ISU, including 3D measurement, digital tagging, image enhancement, and enhanced camera control

    Fourth Quarter Highlights

    In line with the preliminary results released on January 9, 2023, the Company announced:

    • Over 840 surgical procedures were performed globally during the quarter, representing growth of over 29% compared to the fourth quarter 2021
    • Five Senhance® Surgical Programs were initiated during the quarter, including two in Germany, two in Japan, and one in the CIS region
    • Fourth quarter revenue of $2.5 million

    Full Year Highlights

    • Over 3,100 surgical procedures were performed globally, representing growth of over 29% compared to 2021
    • In 2022, nine Senhance Surgical Programs were initiated, in-line with guidance of 8-10 systems
    • Full year 2022 revenue of $7.1 million
    • The Company had cash, cash equivalents, short-term and long-term investments, excluding restricted cash, of approximately $74.4 million at December 31, 2022

    "2022 was an exciting year for the company. We continued to see strong adoption and utilization trends as more surgeons across the globe were performing procedures using Senhance, and we made significant progress in the development and launch of cutting-edge digital surgical capabilities to help surgeons perform better, more consistent surgery," said Anthony Fernando, Asensus Surgical President and CEO. "As we look to the future, we are incredibly excited about the opportunity we have to revolutionize patient care through Performance-Guided Surgery. By introducing the most advanced robotics platforms in combination with novel clinical intelligence being bolstered by leading cloud computing power, we believe we can reduce surgical variability and help surgeons achieve better outcomes, regardless of their skill level or geographic location."

    Upcoming 2023 Milestones

    For the full year 2023, the Company expects to initiate 10 - 12 new Senhance programs.

    During the first half of 2023, the Company expects to achieve the following regulatory milestone:

    • FDA clearance of Senhance Surgical System for pediatric indication

    During the second half of 2023, the Company expect to achieve the following developmental milestones:

    • Integrated system testing for LUNA Surgical System
    • Preclinical evaluation for LUNA Surgical System
    • Standalone ISU final testing

    2023 Investor Day

    On February 21, 2023, the Company hosted an Investor Day. Based on its clinical and commercial experience to date, the Company introduced an integrated Digital Surgery solution comprising a next generation surgical platform and instruments, real-time intraoperative clinical intelligence and a secure cloud platform to apply machine learning to deliver clinical insights. This Digital Surgery solution will enable the Company's vision of Performance-Guided Surgery.

    A link to a video replay of the event can be found HERE.

    LUNA, the Company's Next Generation Digital Surgery Platform

    Designed based on the feedback received from over 10,000 digital laparoscopic procedures performed with the Senhance System, the LUNA Surgical System is the Company's next generation digital surgery platform. Through a combination of advanced minimally invasive instrumentation, the first ever digital interface between the surgeon and the console, and industry-leading clinical intelligence tools, we believe LUNA is poised to revolutionize the way surgery is performed.

    The LUNA Surgical System is under development, and not currently available for use.

    KARL STORZ Collaboration Agreement

    The Company previously announced that it had entered into a Memorandum of Understanding with KARL STORZ VentureONE Pte. Ltd. (KARL STORZ), a new wholly owned subsidiary of KARL STORZ SE & Co. KG. As part of this agreement, KARL STORZ intends to market and sell Asensus' Intelligent Surgical Unit as a standalone device together with their IMAGE1 S™ Imaging system and OR1™ integration solution. The companies also intend to work together on the integration of the ISU into KARL STORZ's laparoscopic vision systems and jointly collaborate on developing next-generation instrumentation to be used with Asensus and KARL STORZ surgical platforms.

    New Intelligent Surgical Unit Capabilities Announced

    In January 2023, the Company received CE Mark for an expansion of machine vision capabilities on the previously cleared ISU. This approval included a review of the Senhance Surgical System platform, making Senhance one of the first robotic surgical systems to be approved through the new, more rigorous EU Medical Device Regulation, or MDR, process. These expanded ISU capabilities are now commercially available across all of the Company's key geographies, including the European Union, Japan, and the U.S.

    In February 2023, the Company announced incremental features sets which are now under development, including an analytical feature set, a safety feature set, and a training and education set.

    Google Cloud Collaboration

    Asensus Surgical previously announced that it agreed on a multi-year strategic collaboration with Google Cloud to integrate Google Cloud's secure cloud data architecture and machine learning technologies to further expand the capabilities of the Asensus Surgical's Performance-Guided Surgery framework enabled through the ISU. Google's secure cloud data architecture will capture this data and Asensus will enable customer access portals and performance dashboards for surgeons and hospitals. Google's machine learning technologies will be utilized to analyze the data and discern clinical intelligence that can be utilized by surgeons and hospitals in addition to continuously improving the software in the ISU to provide better intra-operative clinical insight.

    Articulating Instrument Launch

    These instruments were commercially launched in the U.S., Japan and Europe, in the fourth quarter of 2022. Articulating Instruments offer better access to difficult-to-reach areas of the anatomy by providing two additional degrees of freedom.

    U.S. Pediatric Regulatory Submission

    The Company submitted its U.S. FDA 510(k) application for pediatric clearance in the U.S. during the third quarter of 2022. The Senhance System's unique combination of 3mm instrumentation with a 5mm camera scope combined with haptic feedback make it a unique robotic assisted laparoscopic solution for pediatric surgeries. The Company expects to receive FDA 510(k) clearance during the first half of 2023.

    Market Development

    2022 Senhance Program Initiations

    During the fourth quarter of 2022, the Company initiated five new Senhance Surgical System placements, two in Germany, two in Japan, and one in the CIS region, bringing the total number of new Senhance Surgical System placements to nine in 2022.

    Procedure Volumes

    Previously, the Company has used the terms "surgical procedure" and "surgical case" interchangeably to mean a single surgery. Following an analysis of the growing collection of Senhance surgical data, it was identified that it is becoming increasingly common that multiple surgical procedures are being performed during a single surgical case. As a result, the Company will now report the number of total surgical procedures completed. During 2023 we will provide data from similar periods in 2022 using the same methodology. As an example, in previous quarters, a surgical case where both a cholecystectomy (gallbladder removal) and an umbilical hernia repair were completed, it would have been counted as a single procedure. Under the revised definition, that example would be counted as two procedures.

    In 2022, surgeons performed over 3,100 surgical procedures utilizing the Senhance System, representing a 29% increase over the 2,400 surgical procedures performed in the previous year. These procedures included general surgery, gynecology, urology, colorectal, pediatric, and bariatric surgical cases.

    Fourth Quarter Financial Results

    For the three months ended December 31, 2022, the Company reported revenue of $2.5 million as compared to revenue of $2.5 million in the three months ended December 31, 2021. Revenue in the fourth quarter of 2022 included $1.3 million in system revenue, $0.4 million in lease revenue, $0.5 million in instruments and accessories, and $0.3 million in services.

    For the three months ended December 31, 2022, total operating expenses were $18.3 million, as compared to $15.9 million, in the three months ended December 31, 2021.

    For the three months ended December 31, 2022, net loss was $17.9 million, or $0.08 per share, as compared to a net loss of $15.9 million, or $0.07 per share, in the three months ended December 31, 2021.

    Adjusted net loss is a non-GAAP financial measure. See the reconciliation of GAAP to Non-GAAP Measures below. For the three months ended December 31, 2022, the adjusted net loss was $16.7 million, or $0.07 per share, as compared to an adjusted net loss of $15.7 million, or $0.07 per share in the three months ended December 31, 2021, after adjusting for the following charges: amortization of intangible assets, change in fair value of contingent consideration, and property and equipment impairment, all of which are non-cash charges. 

    Balance Sheet Updates

    The Company had cash, cash equivalents, short-term and long-term investments, excluding restricted cash of approximately $74.4 million as of December 31, 2022.

    The Company intends to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 on or about March 2, 2023, with the Securities and Exchange Commission. The Company expects that the audited financial statements that will be included in the filing will contain statements regarding management's assessment of the Company's ability to continue as a going concern, and a going concern qualification in the audit opinion from its independent registered public accounting firm. This announcement is made pursuant to NYSE American Company Guide Sections 401(h) and 610(b), which require public announcement of the receipt of an audit opinion containing a going concern paragraph.

    About Asensus Surgical, Inc.

    Asensus Surgical, Inc. is digitizing the interface between the surgeon and patient to pioneer a new era of Performance-Guided Surgery by unlocking clinical intelligence for surgeons to enable consistently superior outcomes and a new standard of surgery. Based upon the foundations of Digital Laparoscopy and the Senhance Surgical System, the Company is developing the LUNA Surgical System, a next generation robotic and instrument system as a foundation of its Digital Surgery solution. These systems will be powered by the Intelligent Surgical Unit to increase surgeon control and reduce surgical variability. With the addition of machine vision, Augmented Intelligence, and deep learning capabilities throughout the surgical experience, we intend to holistically address the current clinical, cognitive and economic shortcomings that drive surgical outcomes and value-based healthcare. The Senhance Surgical System is now available for sale in the US, EU, Japan, Russia, and select other countries. For a complete list of indications for use, visit: www.senhance.com/indications. To learn more about Performance-Guided Surgery, Digital Laparoscopy with the Senhance Surgical System and the new LUNA System visit www.asensus.com.

    Follow Asensus

    Email Alerts: https://ir.asensus.com/email-alerts

    LinkedIn: https://www.linkedin.com/company/asensus-surgical-inc

    Twitter: https://twitter.com/AsensusSurgical

    YouTube: https://www.youtube.com/c/transenterix

    Vimeo: https://vimeo.com/asxc

    Forward-Looking Statements

    This press release includes statements relating to Asensus Surgical, the LUNA Surgical System, the Senhance Surgical System and our 2022 results. These statements and other statements regarding our future plans and goals constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations and include whether we will be able to revolutionize patient care through Performance-Guided Surgery, whether our robotics platforms in combination with novel clinical intelligence can reduce surgical variability and help surgeons achieve better outcomes, whether we will be able to initiate 10-12 new Senhance Surgical Systems in 2023, whether, in the first half of 2023, we will be able to achieve FDA clearance of the Senhance Surgical System for a pediatric indication, whether, in the second half of 2023, we will be able to achieve developmental milestones: integrating system testing for the LUNA Surgical System, preclinical evaluation for the LUNA Surgical System and standalone ISU final testing, whether the LUNA Surgical System will revolutionize the way surgery in performed, whether the collaboration between Asensus Surgical and Google Cloud will be successful and whether definitive agreements will be successfully negotiated and lead to a successful collaboration between Asensus Surgical and Karl Storz. For a discussion of the risks and uncertainties associated with the Company's business, please review our filings with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the origination date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.



    Asensus Surgical, Inc.

    Consolidated Statements of Operations and Comprehensive Loss

    (in thousands, except per share amounts)

    (Unaudited)

     Three Months Ended  Years Ended 
     December 31,  December 31, 
     2022  2021  2022  2021 
    Revenue:               
    Product$1,762  $1,748  $4,327  $5,399 
    Service 306   340   1,373   1,520 
    Lease 396   388   1,387   1,313 
    Total revenue 2,464   2,476   7,087   8,232 
    Cost of revenue:               
    Product 987   1,070   5,303   5,741 
    Service 668   453   2,174   1,799 
    Lease 643   764   3,395   3,556 
    Total cost of revenue 2,298   2,287   10,872   11,096 
    Gross loss 166   189   (3,785)  (2,864)
    Operating Expenses:               
    Research and development 8,520   6,575   28,942   19,348 
    Sales and marketing 3,820   3,229   14,756   13,395 
    General and administrative 4,794   5,926   20,172   19,323 
    Amortization of intangible assets 107   2,721   7,708   11,254 
    Change in fair value of contingent consideration 53   (2,578)  (1,115)  (1,565)
    Property and equipment impairment 999   —   1,431   — 
    Total Operating Expenses 18,293   15,873   71,894   61,755 
    Operating Loss (18,127)  (15,684)  (75,679)  (64,619)
    Other Income (Expense), net:               
    Gain on extinguishment of debt —   —   —   2,847 
    Change in fair value of warrant liabilities —   —   —   (1,981)
    Interest income 335   337   1,141   590 
    Interest expense 30   (293)  (410)  (370)
    Employee retention tax credit —   —   —   1,311 
    Other expense, net (34)  (12)  (295)  (15)
    Total Other Income (Expense), net 331   32   436   2,382 
    Loss before income taxes (17,796)  (15,652)  (75,243)  (62,237)
    Income tax expense (94)  (229)  (318)  (225)
    Net loss (17,890)  (15,881)  (75,561)  (62,462)
    Comprehensive loss:               
    Net loss (17,890)  (15,881)  (75,561)  (62,462)
    Foreign currency translation loss 2,151   (588)  (1,867)  (2,985)
    Unrealized gain (loss) on available-for-sale investments 353   (194)  (257)  (247)
    Comprehensive loss$(15,386) $(16,663) $(77,685) $(65,694)
                    
    Net loss per common share attributable to common

    stockholders – basic and diluted
    $(0.08) $(0.07) $(0.32) $(0.28)
                    
    Weighted average number of shares used in computing

    net loss per common share – basic and diluted
     236,843   234,851   236,492   226,960 



    Asensus Surgical, Inc.

    Consolidated Balance Sheets

    (in thousands, except share amounts)

    (Unaudited)

     December 31,  December 31, 
     2022  2021 
           
    Assets       
    Current Assets:       
    Cash and cash equivalents$6,329  $18,129 
    Short-term investments, available-for-sale 64,195   80,262 
    Accounts receivable, net 2,256   749 
    Inventories 8,284   8,634 
    Prepaid expenses 3,584   3,255 
    Employee retention tax credit receivable 554   1,311 
    Other current assets 1,671   957 
    Total Current Assets 86,873   113,297 


    Restricted cash
     1,141   1,154 
    Long-term investments, available-for-sale 3,865   37,435 
    Inventories, net of current portion 5,469   7,074 
    Property and equipment, net 9,542   10,971 
    Intellectual property, net 1,576   9,892 
    Net deferred tax assets 174   288 
    Operating lease right-of-use assets, net 4,950   5,348 
    Other long-term assets 2,463   1,014 
    Total Assets$116,053  $186,473 
    Liabilities and Stockholders' Equity       
    Current Liabilities:       
    Accounts payable$3,348  $3,448 
    Accrued employee compensation and benefits 4,508   3,559 
    Accrued expenses and other current liabilities 1,293   1,617 
    Operating lease liabilities – current portion 800   683 
    Deferred revenue 465   543 
    Total Current Liabilities 10,414   9,850 
    Long Term Liabilities:       
    Contingent consideration 1,256   2,371 
    Noncurrent operating lease liabilities 4,738   5,006 
    Total Liabilities 16,408   17,227 
    Commitments and Contingencies       
    Stockholders' Equity       
    Common stock $0.001 par value, 750,000,000 shares authorized at

    December 31, 2022 and December 31, 2021; 236,895,440 and

    235,218,552 shares issued and outstanding at December 31, 2022 and

    December 31, 2021, respectively
     237   235 
    Preferred stock, $0.01 par value, 25,000,000 shares authorized, no shares

    issued and outstanding at December 31, 2022 and December 31, 2021,

    respectively
     —   — 
    Additional paid-in capital 962,731   954,649 
    Accumulated deficit (860,935)  (785,374)
    Accumulated other comprehensive loss (2,388)  (264)
    Total Stockholders' Equity 99,645   169,246 
    Total Liabilities and Stockholders' Equity$116,053  $186,473 



    Asensus Surgical, Inc.

    Consolidated Statements of Cash Flows

    (in thousands)

    (Unaudited)

     Years Ended  
     December 31, 
     2022  2021 
    Operating Activities:       
    Net loss$(75,561) $(62,462)
    Adjustments to reconcile net loss to net cash and cash equivalents used in

    operating activities:
           
    Depreciation 3,368   2,857 
    Amortization of intangible assets 7,708   11,254 
    Amortization of discounts and premiums on investments, net 565   409 
    Stock-based compensation 8,416   9,429 
    Gain on extinguishment of debt —   (2,847)
    Deferred tax expense 318   225 
    Change in inventory reserves 620   (492)
    Bad debt expense 9   144 
    Property and equipment impairment 1,431   — 
    Loss on disposal of property and equipment 122   — 
    Change in fair value of warrant liabilities —   1,981 
    Change in fair value of contingent consideration (1,115)  (1,565)
    Changes in operating assets and liabilities:       
    Accounts receivable (1,528)  174 
    Inventories (2,302)  (611)
    Operating lease right-of-use assets 232   (4,254)
    Prepaid expenses (450)  146 
    Employee retention tax credit receivable 757   (1,311)
    Other current and long-term assets (2,101)  902 
    Accounts payable 35   1,614 
    Accrued employee compensation and benefits 4,523   (859)
    Accrued expenses (3,955)  384 
    Deferred revenue (55)  (229)
    Operating lease liabilities 26   4,452 
    Net cash and cash equivalents used in operating activities (58,937)  (40,659)
    Investing Activities:       
    Purchase of available-for-sale investments (33,886)  (122,330)
    Proceeds from maturities of available-for-sale investments 82,702   4,030 
    Purchase of property and equipment (1,279)  (1,368)
    Net cash and cash equivalents provided by (used in) investing activities 47,537   (119,668)
    Financing Activities:       
    Proceeds from issuance of common stock and warrants, net of issuance costs —   131,929 
    Taxes paid related to net share settlement of vesting of restricted stock units (350)  (1,063)
    Proceeds from exercise of stock options and warrants 18   30,839 
    Net cash and cash equivalents (used in) provided by financing activities (332)  161,705 
    Effect of exchange rate changes on cash and cash equivalents (81)  376 
    Net (decrease) increase in cash, cash equivalents and restricted cash (11,813)  1,754 
    Cash, cash equivalents and restricted cash, beginning of period 19,283   17,529 
    Cash, cash equivalents and restricted cash, end of period$7,470  $19,283 
            
    Supplemental Disclosure for Cash Flow Information:       
    Cash paid for leases$984  $1,490 
    Cash paid for taxes$165  $170 
            
    Supplemental Schedule of Non-cash Investing and Financing Activities:       
    Transfer of inventories to property and equipment$2,693  $3,244 
    Reclass of warrant liability to common stock and additional paid-in-capital$—  $2,236 
    Lease liabilities arising from obtaining right-of-use assets$577  $5,119 



     

    Asensus Surgical, Inc.

    Reconciliation of Non-GAAP Measures

    Adjusted Net Loss and Adjusted Net Loss per Share

    (in thousands except per share amounts)

    (Unaudited)

      Three Months Ended  Years Ended
      December 31,  December 31,
     2022 2021 2022

     2021
                
    Net loss attributable to common stockholders (GAAP)$(17,890) $(15,881) $(75,561) $(62,462)
                
    Adjustments           
    Amortization of intangible assets 107   2,721   7,708   11,254 
    Change in fair value of contingent consideration 53   (2,578)  (1,115)  (1,565)
    Property and equipment impairment 999   —   1,431   — 
    Gain on extinguishment of debt —   —   —   (2,847)
    Change in fair value of warrant liabilities —   —   —   1,981 
    Employee retention tax credit —   —   —   (1,311)
    Adjusted net loss attributable to common stockholders (Non-GAAP)$(16,731) $(15,738) $(67,537) $(54,950)
                
      Three Months Ended  Years Ended
      December 31,  December 31,
     2022

     2021

     2022

     2021
    Net loss per share attributable to common stockholders (GAAP)$(0.08) $(0.07) $(0.32) $(0.28)
                
    Adjustments           
    Amortization of intangible assets —   0.01   0.03   0.05 
    Change in fair value of contingent consideration —   (0.01)  (0.01)  (0.01)
    Property and equipment impairment 0.01   —   0.01   — 
    Gain on extinguishment of debt —   —   —   (0.01)
    Change in fair value of warrant liabilities —   —   —   0.01 
    Employee retention tax credit —   —   —   — 
    Adjusted net loss per share attributable to common stockholders (Non-GAAP)$(0.07) $(0.07) $(0.29) $(0.24)



    The non-GAAP financial measures for the three months and years ended December 31, 2022 and 2021, which provide management with additional insight into the Company's results of operations from period to period without non-cash charges and are calculated using the following adjustments:

    a) Intangible assets that are amortized consist of developed technology and purchased patent rights recorded at cost and amortized over 5 to 10 years.

    b) Contingent consideration in connection with the acquisition of the Senhance System in 2015 is recorded as a liability and is the estimate of the fair value of potential milestone payments related to business acquisitions. Contingent consideration is measured at fair value using a Monte-Carlo simulation utilizing significant unobservable inputs including the probability of achieving each of the potential milestones, revenue volatility, EURO to USD exchange rate, and an estimated discount rate associated with the risks of the expected cash flows attributable to the various milestones. Significant increases or decreases in any of the probabilities of success or changes in expected timelines for achievement of any of these milestones would result in a significantly higher or lower fair value of these milestones, respectively, and commensurate changes to the associated liability. The contingent consideration is revalued at each reporting period and changes in fair value are recognized in the consolidated statements of operations and comprehensive loss.

    c) Property and equipment impairment associated with returned Senhance Systems under operating leases and Senhance Systems currently under operating leases that are not expected to generate future cash flows sufficient to recover their net book value.

    d) During 2021, the Company received notification from the U.S. Small Business Administration that the principal amount of its Paycheck Protection Program loan of $2.8 million and related interest had been forgiven. Gain on extinguishment of debt of $2.8 million was recognized for the year ended December 31, 2021, in the consolidated statement of operations and comprehensive loss.

    e) The Company's Series B Warrants were measured at fair value using a simulation model which took into account, as of the valuation date, factors including the current exercise price, the expected life of the warrant, the current price of the underlying stock, its expected volatility, holding cost and the risk-free interest rate for the term of the warrant. The warrant liability was revalued upon exercise and the final change in fair value was recognized in the first quarter of 2021. 

    f) During 2021, the Company submitted a refund for incurred employee payroll taxes of $1.3 million under the Employee Retention Tax Credit provision as part of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). 

    INVESTOR CONTACT:

    Mark Klausner or Mike Vallie, 443-213-0499

    [email protected]

    MEDIA CONTACT:

    Isabella Rodriguez, 708-833-1572

    CG Life

    [email protected]



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      RESEARCH TRIANGLE PARK, N.C. and TUTTLINGEN, Germany, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC) ("Asensus Surgical" or "Asensus"), a global leader of innovative digital solutions for the operating room, today announced the closing of the merger (the "Merger") with the KARL STORZ Group ("KARL STORZ"). The transaction was completed following approval by the Asensus Surgical stockholders. Under the terms of the merger agreement, KARL STORZ Endoscopy-America, Inc., a wholly owned direct subsidiary of KARL STORZ, has acquired all outstanding shares of Asensus Surgical for $0.35 per share in cash. As a result of the acquisition, Asensus Surgical has become a sub

      8/22/24 8:58:30 AM ET
      $ASXC
      Medical/Dental Instruments
      Health Care
    • Asensus Surgical, Inc. Reports Operating and Financial Results for the Second Quarter 2024

      RESEARCH TRIANGLE PARK, N.C., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC), a global leader of innovative digital solutions for the operating room, announced its operating and financial results for the second quarter 2024. Recent Highlights Announced a definitive merger agreement (the "Merger Agreement") with KARL STORZ Endoscopy-America, Inc. ("KARL STORZ"), a wholly owned direct subsidiary of KARL STORZ SE & Co. KG, an independent, family-owned global medical technology company. Under the Merger Agreement, KARL STORZ will acquire all of the outstanding shares of Asensus Surgical for $0.35 per share in cash (the "Merger")Leading independent proxy advisory firms,

      8/13/24 4:05:00 PM ET
      $ASXC
      Medical/Dental Instruments
      Health Care
    • Asensus Surgical, Inc. Schedules Second Quarter Financial and Operating Results Conference Call for August 13, 2024

      RESEARCH TRIANGLE PARK, N.C., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC), a medical device company that is digitizing the interface between the surgeon and the patient, announced today that it plans to release 2024 second quarter financial and operating results after the market closes on Tuesday, August 13, 2024. The Company will host a conference call to discuss these results and the status of the proposed merger with KARL STORZ starting at 4:30 p.m. ET the same day. The call will be concurrently webcast. To listen to the conference call on your telephone, please dial 1-800-717-1738 for domesticcallers and 1-646-307-1865 for international callers, approximately

      8/8/24 6:50:00 AM ET
      $ASXC
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    $ASXC
    Insider Trading

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    • Director Kwo Elizabeth returned 117,201 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - ASENSUS SURGICAL, INC. (0000876378) (Issuer)

      8/22/24 9:13:46 AM ET
      $ASXC
      Medical/Dental Instruments
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    • Director Hobert Kevin J returned 54,201 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - ASENSUS SURGICAL, INC. (0000876378) (Issuer)

      8/22/24 9:12:57 AM ET
      $ASXC
      Medical/Dental Instruments
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    • Director Pfenniger Richard C Jr returned 189,417 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - ASENSUS SURGICAL, INC. (0000876378) (Issuer)

      8/22/24 9:12:10 AM ET
      $ASXC
      Medical/Dental Instruments
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    $ASXC
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    • Asensus Surgical, Inc. Schedules Second Quarter Financial and Operating Results Conference Call for August 13, 2024

      RESEARCH TRIANGLE PARK, N.C., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC), a medical device company that is digitizing the interface between the surgeon and the patient, announced today that it plans to release 2024 second quarter financial and operating results after the market closes on Tuesday, August 13, 2024. The Company will host a conference call to discuss these results and the status of the proposed merger with KARL STORZ starting at 4:30 p.m. ET the same day. The call will be concurrently webcast. To listen to the conference call on your telephone, please dial 1-800-717-1738 for domesticcallers and 1-646-307-1865 for international callers, approximately

      8/8/24 6:50:00 AM ET
      $ASXC
      Medical/Dental Instruments
      Health Care
    • Asensus Surgical, Inc. Schedules First Quarter Financial and Operating Results Conference Call for May 14, 2024

      RESEARCH TRIANGLE PARK, N.C., May 07, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC), a medical device company that is digitizing the interface between the surgeon and the patient, announced today that it plans to release 2024 first quarter financial and operating results after the market closes on Tuesday, May 14, 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 listen to the conference call on your telephone, please dial 1-888-886-7786 for domestic callers and 416-764-8658 for international callers, approximately ten minutes prior to the start time. To access the live audi

      5/7/24 6:55:00 AM ET
      $ASXC
      Medical/Dental Instruments
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    • Asensus Surgical, Inc. Schedules Fourth Quarter and Full Year 2023 Financial and Operating Results Conference Call for March 21, 2024

      RESEARCH TRIANGLE PARK, N.C., March 15, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE: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 listen to the conference call on your telephone, please dial 1-888-886-7786 for domestic callers and 416-764-8658 for international callers, approximately ten minutes prior to the start time. To

      3/15/24 6:55:00 AM ET
      $ASXC
      Medical/Dental Instruments
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    $ASXC
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    • SEC Form SC 13G filed by Asensus Surgical Inc.

      SC 13G - ASENSUS SURGICAL, INC. (0000876378) (Subject)

      7/15/24 5:33:42 PM ET
      $ASXC
      Medical/Dental Instruments
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    • SEC Form SC 13G/A filed by Asensus Surgical Inc. (Amendment)

      SC 13G/A - ASENSUS SURGICAL, INC. (0000876378) (Subject)

      1/20/23 9:38:51 AM ET
      $ASXC
      Medical/Dental Instruments
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    • SEC Form SC 13G filed by Asensus Surgical Inc.

      SC 13G - ASENSUS SURGICAL, INC. (0000876378) (Subject)

      2/10/22 12:45:15 PM ET
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      Medical/Dental Instruments
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    • Asensus Surgical Announces the Appointment of Two New Board Members

      Asensus Surgical, Inc. (NYSE:ASXC), a medical device company that is digitizing the interface between the surgeon and the patient to pioneer a new era of Performance-Guided Surgery™, today announced the expansion of its Board of Directors, appointing two new board members, Elizabeth Kwo, MD and Kevin Hobert, effective immediately. "We are delighted to welcome two accomplished industry veterans to our Board of Directors, each of whom bring highly relevant and unique skills to the organization that complement our current leadership team in an impactful way," said Paul LaViolette, Chairman of the Board of Asensus Surgical. "Liz has a tremendous track record of bringing innovative healthcare t

      7/26/21 6:55:00 AM ET
      $ASXC
      Medical/Dental Instruments
      Health Care
    • Cocrystal Pharma Announces the Passing of Chairman, CEO and Co-founder Dr. Gary Wilcox

      BOTHELL, Wash., May 28, 2021 (GLOBE NEWSWIRE) -- With great sadness, Cocrystal Pharma, Inc. (NASDAQ:COCP), ("Cocrystal" or the "Company") announces that Gary Wilcox, Ph.D., Chairman, CEO and co-founder, suddenly passed away Wednesday, May 26 at the age of 74. The Board of Directors and staff of Cocrystal extend their deepest condolences to the Wilcox family and express their gratitude for Gary's contributions to Cocrystal and to human health. The Cocrystal Board of Directors has designated Sam Lee, Ph.D., President, and James Martin, CFO, to share the CEO responsibilities while seeking a successor for the position. Roger Kornberg, Ph.D., Cocrystal co-founder, Chief Scientist, Director and

      5/28/21 8:00:00 AM ET
      $OPK
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      $GPX
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    • Asensus Surgical downgraded by Cantor Fitzgerald

      Cantor Fitzgerald downgraded Asensus Surgical from Overweight to Neutral

      11/16/23 7:11:26 AM ET
      $ASXC
      Medical/Dental Instruments
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    • Cantor Fitzgerald initiated coverage on Asensus Surgical with a new price target

      Cantor Fitzgerald initiated coverage of Asensus Surgical with a rating of Overweight and set a new price target of $1.50

      9/8/22 7:20:54 AM ET
      $ASXC
      Medical/Dental Instruments
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    • Stifel initiated coverage on Asensus Surgical with a new price target

      Stifel initiated coverage of Asensus Surgical with a rating of Buy and set a new price target of $1.50

      9/8/22 7:19:37 AM ET
      $ASXC
      Medical/Dental Instruments
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    SEC Filings

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    • SEC Form 15-12G filed by Asensus Surgical Inc.

      15-12G - ASENSUS SURGICAL, INC. (0000876378) (Filer)

      9/3/24 7:00:04 AM ET
      $ASXC
      Medical/Dental Instruments
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    • SEC Form EFFECT filed by Asensus Surgical Inc.

      EFFECT - ASENSUS SURGICAL, INC. (0000876378) (Filer)

      8/27/24 12:15:07 AM ET
      $ASXC
      Medical/Dental Instruments
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    • SEC Form EFFECT filed by Asensus Surgical Inc.

      EFFECT - ASENSUS SURGICAL, INC. (0000876378) (Filer)

      8/27/24 12:15:04 AM ET
      $ASXC
      Medical/Dental Instruments
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