Crispr Therapeutics shares tumble after significant earnings miss
MOUNTAIN VIEW, Calif. - Iridex Corporation (NASDAQ: IRIX), a provider of laser-based medical systems for ophthalmology, has issued a statement regarding the unusual activity in its stock on March 13, 2025. The stock, currently trading at $0.97, has declined 23% in the past week and is near its 52-week low of $0.96, compared to its high of $3.65. The company has confirmed that it is not aware of any significant corporate developments that would account for the recent volatility in its share price.
The company emphasized that there have been no material adverse changes to its operating results, business strategy, or outlook since the release of preliminary operating and financial results for the fourth quarter and full year of 2024 on January 14, 2025. With a market capitalization of $16.1 million and a gross profit margin of 39%, InvestingPro analysis suggests the stock is currently trading below its Fair Value. These preliminary results remain the most current reflection of the company’s performance.
Iridex has announced that it will present its final fourth-quarter and full-year 2024 financial results during a conference call at 2:00pm PT on Thursday, March 27, 2025. Investors can access the call by dialing the provided number and entering the conference ID, or they can listen to a live webcast available on the company’s website.
Specializing in the treatment of glaucoma and retinal diseases such as diabetic macular edema (DME), Iridex’s product suite leverages its proprietary MicroPulse® technology. The company claims that this technology offers a safe and effective treatment for various sight-threatening eye conditions. Iridex markets its products domestically through a direct sales force and internationally through independent distributors in over 100 countries.
This announcement is based on a press release statement from Iridex Corporation. The company remains focused on its mission to provide innovative and versatile laser-based medical systems to the ophthalmology market.
In other recent news, Iridex Corporation has released its preliminary unaudited financial results for the fourth quarter and full year ending December 28, 2024. The company expects its fourth-quarter revenue to be between $12.6 million and $12.7 million, marking a slight increase from the $12.5 million reported in the same quarter of the previous year. However, the overall annual revenue is anticipated to decrease to a range of $48.6 million to $48.7 million, down from $51.9 million in 2023. Despite this decline, Iridex saw an increase in the sales of its Cyclo G6® Glaucoma Laser Systems, with 47 units sold in the fourth quarter compared to 35 units in the same period last year. The number of Cyclo G6® probes sold remained steady at 54,800, slightly down from 55,200 the previous year. President and CEO Patrick Mercer highlighted the company’s focus on achieving positive EBITDA results in the fourth quarter of 2024, aiming for profitability in 2025. Additionally, Iridex is engaged in ongoing discussions with multiple parties regarding potential transactions as part of a strategic review to enhance shareholder value. These preliminary results are based on initial management analysis and are subject to further review and external audit.
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