Financial

Baxano: Strong Q2, new patents can’t appease Wall Street

August 8, 2014 by Arezu Sarvestani

Baxano’s stock drops 25% after the company reports a 20% increase in sales during its 2nd quarter and the issuance of 2 new patents covering its minimally invasive spinal devices.

Baxano Surgical (NSDQ:BAXS) just can’t seem to do right by Wall Street.

The device maker saw shares drop hard in the days following the release of its 2nd-quarter financial report, which showed a 20% increase in sales and a 31% narrowing of losses. The company also landed 2 new patents for spinal devices, but shares have continued to slide all year.

READ THE REST AT MASSDEVICE

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Josh Sandberg

Josh Sandberg is the President of Ortho Sales Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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2 Comments

  1. This is actually an article written by Massdevice. I think they mentioned strong because revenues grew by 250k over 1q14. I’m not sure where the 20% increase came from but I agree with you that it wasn’t “strong” however it was an improvement. I’m surprised to see the stock dive to 42 cents after improvement. It will be interesting to see if they can get the price over 1.00 to stay listed.

    Thanks for your response.
    Josh

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