Asensus Surgical Announces Financial Results for Q2 2023; Over 1,000 Surgical Procedures Performed Globally During Quarter

Medical device company, Asensus Surgical (NYSE American: ASXC) has announced its operating and financial results for the second quarter 2023. The company reported 27% year-over-year growth in surgical procedures, with over 1,000 procedures performed globally during the quarter.

Anthony Fernando, Asensus Surgical President and CEO said, “Our focus for the remainder of the year will be on expanding the utilization of Senhance and advancing our clinical body of evidence. Additionally, we have some exciting milestones on the horizon, including the initiation of a preclinical evaluation of the LUNA™ Surgical System.”

Asensus anticipates receiving FDA clearance for LUNA in mid-2025, followed by a commercial pilot launch in the second half of 2025.

Highlights

Asensus reported two Senhance® Surgical programs initiated year-to-date, one in Japan and one in the United States. For the full year 2023, the company expects to initiate 10 – 12 new Senhance programs.

Revenue for the second quarter was $1.1 million.

Net loss for the three months ended June 30, 2023, was $20.7 million as compared to a net loss of $19.6 million in the three months ended June 30, 2022.

Cash and cash equivalents and short-term investments, excluding restricted cash, of approximately $40 million at June 30, 2023.

Asensus completed a $10 million registered direct offering in July 2023.

About Asensus Surgical

Asensus Surgical, Inc. is digitizing the interface between the surgeon and patient to pioneer a new era of Performance-Guided Surgery™ by unlocking clinical intelligence for surgeons to enable consistently superior outcomes and a new standard of surgery. Based upon the foundations of digital laparoscopy and the Senhance® Surgical System, the Company is developing the LUNA™ Surgical System, a next generation robotic and instrument system as a foundation of its digital surgery solution. These systems will be powered by the Intelligent Surgical Unit™ (ISU™) to increase surgeon control and reduce surgical variability. With the addition of machine vision, Augmented Intelligence, and deep learning capabilities throughout the surgical experience, Asensus intends to holistically address the current clinical, cognitive and economic shortcomings that drive surgical outcomes and value-based healthcare. The Senhance® Surgical System is now available for sale in the US, EU, Japan, Russia, and select other countries. For a complete list of indications for use, visit: www.senhance.com/indications. To learn more about Performance-Guided Surgery, and digital laparoscopy with the Senhance Surgical System visit www.asensus.com.

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Asensus Surgical Announces Financial Results for Q2 2023; Over 1,000 Surgical Procedures Performed Globally During Quarter

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