Mazor posts Q3 miss, wins FDA nod for Mazor X Stealth edition

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Mazor Robotics Mazor X

Mazor Robotics (NSDQ:MZOR) today released third quarter earnings that narrowly missed loss-per-share expectations on Wall Street, and announced that it won FDA clearance for its Mazor X Stealth edition.

The Caesarea, Israel-based company posted losses of $16.9 million, or 32¢ per share, on sales of approximately $10.1 million for the three months ended September 30, seeing losses grow 329.2% while sales shrunk 45.8% compared to the same period during the previous year.

Losses per share were just behind the 4¢ consensus on Wall Street.

Mazor also said that the FDA cleared its Mazor X Stealth Edition system, which integrates Medtronic‘s (NYSE:MDT) Stealth navigation with the Mazor X robotic guidance platform.

The integrated device comes as a headwind to the company’s upcoming acquisition by Fridley, Minn.-based Medtronic, originally announced in September.

The world’s largest medical device maker has held a position in Mazor, which makes the Mazor X guidance system and the Renaissance robot-assisted spine surgery platform, since May 2016. In September they closed the third, $40 million tranche of the investment, giving Medtronic a 10.6% stake it paid $72 million for.

The post Mazor posts Q3 miss, wins FDA nod for Mazor X Stealth edition appeared first on MassDevice.

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