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Here’s why Asensus Surgical, Inc. (ASXC) Stock Soaring in the Premarket.

Asensus Surgical, Inc. (ASXC) is an innovative minimal invasive surgery engaged company which utilizes medical device robots to perform this task. Some of the products of the company include Intelligent Surgical Unit powered Senhance Surgical System to improve the surgeon’s control over the surgery and reduce its variability. Surgi-bot system is a pioneer enhanced laparoscopic surgical program. Also, Senhance ultrasonic system is the part of the company’s product line which control the energy needs to litigate and divide tissues

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The price of ASXC stock during the regular trading on January 7, 2022, was $0.95 with a slight incline of 0.34%. At last check in the premarket on January 10, 2022, the stock was further significantly up by 8.94%.

ASXC: Events and Happenings

On January 10, 2022, ASXC reported about its positive preliminary 2021 year-end corporate update. Over 500 and 2,000 procedures were performed internationally during the fourth quarter and year-end which represented the growth of over 25% and 42% compared to 2020 respectively.

ASXC: CEO Comments

Speaking at the occasion, ASXC CEO Anthony Fernando said that more than 42% growth in international Senhance procedure volumes and initiating ten new Senhance programs is encouraging and points to the continued growing demand for Senhance and the clinical utility it delivers to surgeons and hospitals

On December 29, 2021, ASXC reported that the company’s Executives will present at the 40th Virtual Annual J.P. Morgan Healthcare Conference which will take place on January 13, 2022.

On November 29, 2021, ASXC reported that its Senhance Robotic Surgery program was initiated by Private Healthcare Institution Railway Clinical Hospital RZD Medicine of Rostov-on-Don. On November 15, 2021, ASXC reported that an agreement had been finalized with the Franklin Medical Center for the leasing and utilization of its Senhance Surgical System.

ASXC: Key Financials

On November 3, 2021, ASXC reported its financial results for the third quarter ended September 30, 2021. Some of the highlights are as follows

Revenue and Assets

For Q3 2021, ASXC reported revenue of $2.6 million in comparison to the same period of 2020 when the revenue was $0.8 million. Total current assets for the third quarter of 2021 were $134.8 million.

Net Loss per Share

Basic and diluted net loss per share was $16.1 million or $0.07 per share for Q3 2021 as compared to the same period of 2020 when the net loss was $15.1 million or $0.15 per share.

On November 1, 2021, ASXC reported that an agreement had been finalized with the Shinmatsudo Central General Hospital in Japan for the leasing and utilization of its Senhance Surgical System. On October 6, 2021, ASXC reported that an agreement had been finalized with the Hirosaki University Hospital for the leasing and utilization of its Senhance Surgical System.  

Conclusion

ASXC stock is 63% down as compared to the past six months mainly due to the economic slow-down by the pandemic. The current premarket surge in the stock showed the placement of investors’ trust in the company’s recent policies and approaches. The company ended 2021 on a positive note with its optimistic year-end corporate updates.

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