INMD In Steady Mode, PSNL Sees Rosy Outlook, QTRX On Watch

(RTTNews) - Today's Daily Dose brings you news about the stellar financial results of InMode, the notice of delisting received by Option Care Health, FDA clearance of the first-ever rapid Chlamydia and Gonorrhea (CT/NG) test, and rosy outlook of Personalis.

Read on…

The FDA has given market clearance for privately-held binx health's first-of-kind, highly sensitive and specific, molecular point-of-care (POC) diagnostic testing platform called binx io.

The binx io platform is a rapid, qualitative, fully-automated first-ever "test-and-treat" paradigm with sample to answer in 30 minutes for the detection of Chlamydia and gonorrhea - the two most tested-for sexually transmitted infections.

The standard of care today for Chlamydia and gonorrhea testing typically involves long wait times from sample to result (often up to seven-day turnaround times), with up to 40% of positive patients not returning for treatment once they leave a physician's office, according to the Company.

InMode Ltd. (INMD) has reported stellar financial results for the second quarter ended June 30, 2019. This is its first earnings report as a public company.

InMode is a global provider of innovative, energy-based, minimally-invasive surgical aesthetic and medical treatment solutions.

The Company's net income rose to $15.8 million or $0.45 per share in the second quarter of 2019 from $7.6 million or $0.21 per share in the second quarter of 2018. Total revenues for the recent second quarter jumped to $38.8 million from $25 million in the comparable year-ago period.

The Company went public on the Nasdaq Global Select Market on August 8, 2019, offering its shares at a price of $14 each.

INMD closed Tuesday's trading at $14, up 1.82%.

Option Care Health Inc. (BIOS) has been pulled up by the Nasdaq Global Select Market for not satisfying the minimum $4.00 bid price requirement.

The Company plans to take all reasonable actions to demonstrate compliance with the applicable Nasdaq Listing Rules so as to maintain its listing on Nasdaq and/or apply to list its securities on the NYSE American exchange.

Option Care Enterprises Inc. and BioScrip Inc. successfully completed their merger on August 7, 2019.

BIOS closed Tuesday's trading at $3.08, up 0.65%.

Personalis Inc. (PSNL), a leader in advanced genomics for cancer, has reported better-than-expected revenue for the second quarter ended June 30, 2019, and has provided a rosy revenue outlook for the year.

Net loss for the recent second-quarter narrowed to $5.9 million or $0.89 per share from $7.3 million or $2.39 per share in the year-ago quarter. Revenues for the second quarter of 2019 jumped to $15.8 million from $8.8 million in the second quarter of 2018, an increase of 80%.

Analysts polled by Thomson Reuters were expecting a loss of $0.30 per share on revenue of $14.92 million.

Looking ahead, Personalis expects the full year 2019 revenues to be in the range of $60 million to $62 million, representing 59% to 64% growth over the full year 2018, and above analysts' consensus estimate of $59.07 million.

PSNL closed Tuesday's trading at $19.71, up 2.39%.

Quanterix Corp. (QTRX), a company digitizing biomarker analysis, has closed its previously announced underwritten public offering of 2.73 million shares of its common stock, including 356,435 shares sold pursuant to the full exercise of the underwriters' option to purchase additional shares.

The shares were sold at a public offering price of $25.25 each. Gross proceeds from the sale of the shares were approximately $69.0 million.

In the second quarter ended June 30, 2019, the Company reported revenue of $13.5 million compared to $8.6 million in the year-ago quarter.

QTRX closed Tuesday's trading at $26.24, up 2.74%.

Tilray Inc. (TLRY), operating in the cannabis space, reported financial results for the second quarter ended June 30, 2019.

Revenue for the second quarter of 2019 was $45.9 (C$60.9) million, up 371.1% over the second quarter of last year, driven by the Manitoba Harvest acquisition, the legalization of the Canadian adult-use market, and growth in international medical markets, particularly in Europe.

Total kilogram equivalents sold more than tripled to 5,588 kilograms in the recent second quarter compared to 1,514 kilograms in the prior-year period.

Net loss for the second quarter of 2019 widened to $35.1 million or $0.36 per share from $12.8 million or $0.17 per share for the prior-year period.

TLRY closed Tuesday's trading at $46.02, up 8.38%.