Minerva Surgical down on wider net loss; flags slow recovery in ablation markets

Minerva Surgical

15/11/2022 18:21

** Shares of women's health focused firm Minerva Surgical
Inc  UTRS.O  slump 25.1% to 22 cents 
    ** Q3 net loss widens to $11.3 mln from $3.2 mln a year ago
    ** Co reiterates FY22 rev forecast between $50 mln and $53
mln
    ** UTRS says while tissue resection markets appear to
strengthen, ablation markets have been slower to recover, which
is reflected in the outlook
    ** Co reports Q3 revenue of $12.6 mln, in line with
estimates 
    ** One of two brokerages rate the stock "buy" or higher, one
"sell"; their median PT is $5
    ** Stock had fallen 97.6% YTD, compared with a 26.6% decline
in the Nasdaq Composite index  .IXIC 
 (Reporting by Johann M Cherian and Shristi Achar in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;
Shristi.AcharA@thomsonreuters.com))