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IRVINE, Calif. - Beta Bionics, Inc. (Nasdaq: BBNX), a medical device company focused on diabetes management, announced on Monday the appointment of Gerard Michel to its board of directors. Michel, currently the CEO of Delcath Systems (Nasdaq: DCTH), brings over three decades of experience in the pharmaceutical and medical technology sectors to the Beta Bionics team. Under Michel’s leadership, Delcath has demonstrated remarkable growth, with the stock delivering a 162% return over the past year and maintaining a strong financial health score according to InvestingPro analysis.
Sean Saint, President and CEO of Beta Bionics, expressed confidence in Michel’s ability to contribute to the company’s growth and innovation efforts. Michel’s track record includes leadership roles at Vericel Corporation and NPS Pharmaceuticals Inc., as well as financial and corporate development positions at Biodel, Inc. His expertise is expected to support Beta Bionics as it expands its commercial reach and advances its product pipeline. At Delcath, Michel has overseen significant operational improvements, with the company maintaining strong liquidity and analysts projecting profitability for the upcoming year. InvestingPro data reveals 8 additional key insights about Delcath’s performance and potential.
Beta Bionics is known for its iLet Bionic Pancreas, the first FDA-cleared insulin delivery device that autonomously determines insulin doses. The company aims to improve the treatment of diabetes through advanced adaptive closed-loop algorithms.
The press release also contained forward-looking statements regarding Beta Bionics’ strategy and growth prospects. However, these statements are subject to a range of risks and uncertainties, and actual results may differ materially.
This news is based on a press release statement from Beta Bionics, Inc.
In other recent news, Delcath Systems reported its fourth-quarter 2024 financial results, showing a revenue of $15.1 million, which exceeded the forecast of $13.62 million. However, the company reported an earnings per share (EPS) of -$0.11, missing the forecast of $0. The company’s gross margins reached 86%, surpassing expectations, and it achieved its first positive adjusted EBITDA of $4.6 million. H.C. Wainwright analysts raised Delcath’s stock price target to $24, maintaining a Buy rating, while BTIG also increased the target to $22, citing impressive product launches. Delcath Systems aims to expand its treatment centers to 30 by the end of 2025 and is increasing its sales regions from four to six. The company has activated three new treatment sites and plans to expand further in Europe, anticipating modest growth. Delcath granted stock options to new employees as part of its 2023 Inducement Plan, aligning their interests with those of the company.
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