Dextera Surgical Guides Q3 Revenue Below Street Estimate

Dextera Surgical (DXTR) shares were lower 7% in recent pre-market trade after the surgical equipment manufacturer said fiscal Q3 revenue will be approximately $568,000, missing the Street estimate of $1.1 million from three analysts polled.

The company said there is backorder of approximately $178,000 for its MicroCutter Staplers and reloads.

“As we have scaled up production of the MicroCutter 5/80, we have had difficulty qualifying some of the raw material for our reloads and as a result we experienced limited ability to ship product to our customers,” said CEO Julian Nikolchev. “We are working diligently to resolve these issues.”

Nikolchev said the company is continuing discussions with B. Braun regarding a collaboration but the discussions are taking longer than expected. The board has decided to explore all strategic options, he said.

Price: 0.24 Price Change: -0.02 Percent Change: -7.23

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