Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Biotech Receives Device Approval in Five More Countries; Revenue Up 122% YOY
Research Report

Share on Stocktwits


Maxim Group reported on this firm's Q3/17 earnings, as well as its progress in obtaining international regulatory clearances for its medical system.

According to an Oct. 18 research note by Maxim analyst Anthony Vendetti, Viveve Medical Inc.'s (VIVE:NASDAQ) preliminary Q3/17 revenue of about $4.1 million was "up roughly 122% year over year, relatively in line with our estimate of $4.2M and above consensus of $3.7M."

Based on the quarter's results, Vendetti concluded, "We would continue to be buyers of Viveve after announcing preliminary Q3/17 revenue above the consensus estimate."

The analyst noted this women's health and wellness company "continues to build its installed base and make progress with additional international regulatory clearances."

For instance, in Q3/17, the company shipped 60 Geneveve systems, taking the number of installed machines to 365, and sold approximately 2,700 related consumables.

Additionally, Viveve "announced new regulatory clearances for the product in five additional countries," Vendetti said. Those are Bahrain, Kuwait, Qatar and Mexico for the treatment of vaginal laxity, and Taiwan for electrocoagulation to achieve hemostasis during surgery.

The biotech also continues to advance its clinical program, Vendetti indicated. It is preparing to submit an investigational device exemption request to the FDA so it may start its Viveve II clinical study. "Barring any regulatory hurdles, we expect the company to commence its Phase 3 trial by 2017E, with a readout of data projected for mid-2019," Vendetti wrote.

In the United States, the Geneveve device is "currently cleared for electrocoagulation and hemostasis," the analyst explained. "In our opinion, the possibility of gaining an expanded FDA approval for the improvement of female sexual function represents the major growth opportunity for the company."

Following Viveve's announcement of its Q3/17 revenue, Maxim Group changed its projected earnings estimate for the company from $15.1 million to $15.2 million but left all other estimates "relatively unchanged," Vendetti said.

Maxim has a Buy rating and $11 per share 12-month target price on Viveve, whose stock is now trading at around $5.53 per share.

The company's Q3/17 earnings call is scheduled for Wednesday, Nov. 8, 2017, at 5 p.m. ET.

Want to read more Life Sciences Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: Viveve Medical. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Viveve Medical, a company mentioned in this article.

Want to read more about Medical Devices investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe