Inogen falls on downbeat prelim Q2 revenue

Inogen

13/07/2023 16:29

** Shares of medical device maker Inogen Inc  INGN.O  down
3.82% at $10.07
    ** Company sees Q2 revenue between $83 mln and $84 mln, vs
analysts' avg. est. of $94.36 mln - Refinitiv
    ** Revenue in Q2 was lower than expected from U.S. and
international business-to-business, and lower direct-to-consumer
revenue despite continued productivity gains - INGN
    ** Also, company to purchase Physio-Assist SAS, maker of
Simeox — an airway clearance device used to treat bronchiectasis
    ** Deal for about $32 mln in cash, along with potential
future potential milestone payments of up to $45 mln based on
FDA approvals
    ** INGN expects deal to boost adjusted earnings beginning in
2027 and immediately accretive to gross margin
    ** Inogen to announce Q2 results on Aug. 7
    ** Including session's moves, stock down 48.25% YTD 

 (Reporting By Akshita Toshniwal in Bengaluru)
 ((Akshita.Toshniwal@thomsonreuters.com))