Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Feb. 13, 2020 /PRNewswire/ -- Breast cancer is the most devastating, common cancer among women. On average, one out of every eight women in the U.S. along will develop this cancer in her lifetime. Worse, every two minutes a woman is diagnosed with breast cancer, as noted by the National Breast Cancer Foundation Inc. In 2020, according to Susan G. Komen, women will see 276,480 new cases of invasive breast cancer, and unfortunately, up to 42,170 deaths. To combat breast cancer, early detection is a necessity, which is why companies are racing to produce cost-effective screening methods that offer greater accuracy, speed, and comfort than traditional methods. As you might expect, the market for breast imaging with existing methods has been massive – projected to reach $4.14 billion by 2021 and $7.3 billion by 2024. As technology advances the early detection of such cancers, it's giving women a better, fighting chance against a debilitating, unfair disease. Some of the top companies leading the charge include Izotropic Corporation (CSE:IZO)(OTC:IZOZF), Hologic Inc. (NASDAQ:HOLX), Stryker Corporation (NYSE:SYK), ENDRA Life Sciences Inc. (NASDAQ:NDRA), and Boston Scientific Corporation (NYSE:BSX).
Izotropic Corporation (CSE:IZO) (OTCPK:IZOZF) BREAKING NEWS: Izotropic Corporation announced the appointment of John McGraw MSc PhD to the Advisory Board. Dr. McGraw brings over 20 years of technology and business development experience spanning several medical device and healthcare-related market segments and has created and implemented successful strategies for the commercialization of new technologies in medical devices, imaging and laboratory diagnostics and therapeutics. In addition to his extensive entrepreneurial and consulting experience, Dr. McGraw has also provided executive leadership to two public companies. He was VP of Operations for Novadaq Technologies Inc. (NCVQ), a medical device imaging company which was acquired by Stryker Corporation for US $701M in 2017. He was also Senior Vice President Business Development & Strategy for CML HealthCare Inc (CLC), one of Ontario's leading providers of laboratory diagnostic services and Canada's largest provider of medical imaging services which was acquired by LifeLabs (owned by OMERS/Borealis) for CA$1.2B in 2013.
The Company's Advisory Board is comprised of experts in medical physics, radiology, breast imaging, breast cancer screening, bioengineering and biotechnology. The addition of Dr. McGraw to the Advisory Board brings relevant market sector operating experience and executive level advisory to the Board of Directors. The Company will also engage Dr. McGraw to provide ongoing consulting services related to product development, marketing, manufacturing, compliance, FDA filing processes and clinical trials. He will also represent the Company in financing and technology presentations. Overall, Dr. McGraw brings a wealth of knowledge and contacts to the Company, along with highly relevant executive level strategic and operating experience in the medical imaging market sector. Izotropic's CEO Bob Thast commented "We are honored to have such an accredited addition such as Dr. McGraw to our advisory board as we progress towards the FDA approval process and continue on Izotropic's path towards the commercialization of our disruptive, early breast cancer detection technology. This is an exciting time for Izotropic as we continue to build and strengthen our team, develop our technology and with an improved financial position after $1.23 million in exercised warrant capital, we are ready and equipped to fire on all cylinders."
"Izotropic is developing an imaging device that will greatly enhance the detection of breast cancer with its superior 3D imaging capabilities, without the need for tissue compression and a scan that takes just 10 seconds. It is exciting to work with Izotropic and I look forward to helping advance this innovative technology that will have such a meaningful impact in breast cancer detection," said Dr. McGraw.
Other related developments from around the markets include:
Hologic Inc. (NASDAQ:HOLX) announced that new product offerings within the Panther Scalable Solutions (PSS) portfolio are commercially available in the U.S. and Europe. These new optional configurations, which represent Hologic's next generation of molecular diagnostics innovation, will allow laboratories to scale their instrumentation to meet testing demands in both their current workflow and their future growth plans. "Our laboratory partners seek continuing efficiency and consolidation, and we are observing that trend in real time, with more Panther instruments in the field running multiple assays than ever before," said Kevin Thornal, president, Diagnostic Solutions Division at Hologic. "In the tenth year since launching the Panther system, we are excited to add expanded capabilities to our market-leading molecular diagnostic platform." The Panther system, launched in Europe in 2010, offers random access and full automation for molecular testing. It provides a broad assay menu that includes tests for women's health, sexually transmitted infections (STIs), respiratory health, and viral load, as well as Open Access functionality for laboratory developed tests (LDTs). This broad menu enables labs to consolidate molecular testing onto a single platform.
Stryker Corporation (NYSE:SYK) announced that its Board of Directors has declared a quarterly dividend of $0.575 per share payable on April 30, 2020 to shareholders of record at the close of business on March 31, 2020, representing an increase of approximately 11% versus the prior year and unchanged from the previous quarter.
ENDRA Life Sciences Inc. (NASDAQ:NDRA) announced it has renewed its collaboration agreement with the GE Healthcare unit of General Electric Company, extending the agreement's term to January 2021. "2020 is off to an exciting start and we are pleased to renew our collaboration agreement with GE Healthcare, the global leader in clinical ultrasound and ENDRA's partner since 2016," said Francois Michelon, CEO of ENDRA. "Last month we submitted the technical file for ENDRA's CE Mark review, and we are looking forward to working with GE Healthcare as we progress towards commercializing TAEUS in 2020." Under the terms of the agreement, GE Healthcare will continue to support ENDRA's commercialization activities for its TAEUS technology for use in a fatty liver application by, among other things, facilitating introductions to GE Healthcare clinical ultrasound customers. In return for this assistance, ENDRA will afford GE Healthcare certain rights of first offer with respect to manufacturing and licensing rights for the target application. In addition to extending the agreement's term, the renewal modified the terms of these rights of first offer.
Boston Scientific Corporation (NYSE:BSX) generated sales of $2.905 billion during the fourth quarter of 2019. This represents growth of 13.4 percent on a reported basis, 14.1 percent on an operational basis and 7.3 percent on an organic2 basis, all compared to the prior year period. The company reported GAAP earnings of $3.996 billion or $2.83 per share (EPS), compared to GAAP earnings of $386 million or $0.27 per share a year ago and achieved adjusted earnings per share of $0.46for the period, compared to $0.39 a year ago. For the full year 2019, the company generated sales of $10.735 billion. This represents growth of 9.3 percent on a reported basis, 11.1 percent on an operational1 basis and 7.3 percent on an organic2 basis, all compared to the prior year period. The company reported GAAP earnings of $3.33 per share, inclusive of the net income tax benefit mentioned above, compared to $1.19 in 2018 and delivered full year adjusted earnings per share of $1.58, compared to $1.47 in 2018. Full year 2018 GAAP and adjusted earnings per share included a $0.07 net tax benefit. "We delivered strong revenue and adjusted EPS growth for the quarter and the year by developing innovative products, executing on our category leadership strategy and mitigating challenges," said Mike Mahoney, chairman and chief executive officer, Boston Scientific. "We're confident that we have the pipeline, leadership team and focused execution to deliver on our goals to address unmet clinical needs and work to improve the lives of millions of patients."
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