ClearPoint Neuro Shares Up 16% After Prelim. 4Q Revenue Beats Estimates
January 09 2024 - 10:14AM
Dow Jones News
By Ben Glickman
Shares of ClearPoint Neuro rose after preliminary fourth-quarter
revenue topped estimates.
The stock was up 16% to $7.35 in morning trading Tuesday. Shares
are down 17% in the last year.
The Solana Beach, Calif.-based company, which develops clinical
products to allow navigation to the brain and spine, said late
Monday that it expects revenue to rise 32% to $6.8 million in the
period ended Dec. 31, surpassing the $6.5 million expected by
analysts polled by FactSet.
ClearPoint is forecasting fiscal 2024 revenue of $28 million to
$32 million. Analysts polled by FactSet are expecting $30.4 million
in revenue this year.
The company said it is planning to achieve clearance from the
U.S. Food and Drug Administration for its SmartFrame OR for
navigation, then subsequently launch and commercialize the
offering.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 09, 2024 10:59 ET (15:59 GMT)
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