Crispr Therapeutics shares tumble after significant earnings miss
In a challenging market environment, XTNT, also known as Bacterin International, has seen its stock price touch a 52-week low, reaching a price level of $0.39 USD. According to InvestingPro analysis, the stock's RSI indicates oversold territory, while the company maintains a healthy gross profit margin of ~61%. This significant downturn reflects a broader trend for the company, which has experienced a substantial 1-year change with a decline of -69.69%. Investors are closely monitoring XTNT as it navigates through the pressures that have led to this low point, considering both the company's strategic responses and the potential for market recovery to influence future performance. Despite challenges, the company has achieved impressive revenue growth of 45% over the last twelve months. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report, helping investors make more informed decisions about XTNT's potential recovery.
In other recent news, Xtant Medical (TASE:PMCN) has reported a 12% revenue increase in Q3 2024, reaching $27.9 million, up from $25 million the previous year. This growth is largely credited to the sales from the newly acquired Surgalign hardware and biologics business. Despite a net loss of $5 million for the quarter, the company maintains its full-year revenue guidance at $116 to $120 million, marking a 27% to 31% increase from the previous year.
The firm also signed a licensing agreement in October, expected to generate at least $5 million in royalties. Despite a decrease in gross margin to 58.4%, due to delays in launching new products, and a net loss, Xtant remains optimistic about future growth, particularly in the stem cell market and the potential of the Cortera system.
These recent developments suggest Xtant Medical is focused on improving operational efficiencies, with an emphasis on in-house manufacturing to enhance profitability and control over the supply chain. The company also anticipates significant increases in its OEM and Cortera businesses in the upcoming fourth quarter.
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