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Medical Device Firm Engages Distributor for Its TransDermal Infusion System
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Sensus Healthcare's "needle-free treatment presents a clear competitive advantage in the aesthetic dermatology space," an H.C. Wainwright & Co. report noted.

Sensus Healthcare Inc. (SRTS:NASDAQ) signed an agreement with Mattioli Engineering Italia SPA for it to exclusively distribute Sensus' TransDermal Infusion System, H.C. Wainwright & Co. analyst Yi Chen reported in a Dec. 2 research note.

In light of this development, the investment bank increased the revenue it forecasts Sensus to generate in the next 12 months to $1.94 per share from $1.76. This boosted H.C. Wainwright's  target price on the medical device firm to $10 per share from $9. (Sensus' share price today is about $7.02.)

Chen highlighted the benefits of Sensus' product, a vehicle for delivering ionic drugs to a person, which has U.S. Food and Drug Administration approval for use on any place of the body in which injections are given.

For one, Chen noted, through the infusion system, the body can absorb drugs it otherwise cannot, such as Botox, hyaluronic acid, lidocaine, collagen and others employed in aesthetic dermatologic procedures. This is because with infusion, the drugs "penetrate the innermost hypodermic layer of skin by increasing permeability," he explained.

Two, the infusion system is noninvasive, not affecting or damaging skin, Chen wrote. This means patients can get various fillers and other injectable drugs pain free and without down time.

As such, Sensus plans to market its system to dermatologists for various applications, including use in skin rejuvenation and pre-laser treatments and pre and post plastic surgeries.

"This needle-free treatment presents a clear competitive advantage in the aesthetic dermatology space and could help drive the company's top and bottom line growth in the coming years," Chen commented.

Mattioli Engineering is an ideal firm to distribute Sensus' infusion system given its decades long work in medicine and its contacts and customers in aesthetic dermatology specifically. For this market, Mattioli has developed and continues to develop new devices and technologies and within it, has created a global customer network.

The analyst also pointed out the aesthetic dermatology market is "substantial," and he cited supporting statistics. Among them are that the current Botox market in the U.S. is $5 billion. Last year, in the States, 4.4 million Botox injections were administered along with 3.4 million filler injections, and 1 million laser skin resurfacing procedures were done.

"The TransDermal Infusion System has strengthened Sensus' offerings," which primarily consist of radiation therapy delivery systems, wrote Chen.

H.C. Wainwright & Co. has a Buy rating on Sensus Healthcare.


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Important Disclaimers for H.C. Wainwright & Co., Sensus Healthcare Inc., Dec. 2, 2021 

This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules.
H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility. Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months. H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer.
I, Yi Chen, Ph.D. CFA and Raghuram Selvaraju, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Sensus Healthcare, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of November 30, 2021 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Sensus Healthcare, Inc. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from Sensus Healthcare, Inc. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from Sensus Healthcare, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Sensus Healthcare, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person.
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