Ankündigung • Dec 13
Haemonetics Corporation (NYSE : HAE) completed the acquisition of Opsens Inc. (TSX : OPS). Haemonetics Corporation (NYSE : HAE) entered into a definitive agreement to acquire Opsens Inc. (TSX : OPS) for approximately CAD 340 million on October 10, 2023. Haemonetics will acquire all outstanding shares of OpSens for CAD $2.90 per share in an all-cash transaction representing a fully diluted equity value of approximately $253 million (CAD 345 million) at current exchange rate. Haemonetics plans to finance this acquisition through a combination of cash and a revolving credit facility. Following this acquisition, Haemonetics' net debt to EBITDA ratio, per the terms set forth in the Company's existing Credit Agreement, is expected to be approximately 2.1x. The transaction will be affected by way of an arrangement under the Business Corporations Act (Québec).
The transaction is expected to close by the end of January 2024. Completion of the acquisition is subject to the approval of OpSens shareholders, receipt of court and regulatory approval, as well as certain other closing conditions customary for transactions of this nature. OpSens' board of directors (the "Board") unanimously approved the Transaction and recommends that holders of Shares (the "Shareholders") vote in favour of the Transaction. The process and negotiation of the Transaction were supervised by a special committee of OpSens' Board (the "Special Committee"). Both the Board and the Special Committee determined, after receiving the fairness opinions of Piper Sandler & Co. ("Piper Sandler") and PricewaterhouseCoopers LLP ("PwC") and financial and legal advice, that the Transaction is in the best interests of the Corporation and is fair and reasonable to Shareholders. The Board also unanimously recommends that Shareholders vote in favour of the Transaction at the special meeting of Shareholders to be called to approve the Transaction. On October 31, 2023, Québec Superior Court issued an interim order in connection with the transaction. On November 28, 2023, the applicable waiting period has expired under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) and the applicable limitation period during which a notice of national security review could be issued under the Investment Canada Act(Canada) R.S.C., 1985, c. 28 (1st Supp.), as amended (the “ICA”) has expired without any such notice having been sent. As of December 1, 2023, shareholders of OpSens approved the transaction. Subject to receiving the final order of the Superior Court of Québec and satisfaction of customary closing conditions, it is currently expected that the Arrangement will be completed by mid-December 2023. the Superior Court of Québec issued a final order on December 8, 2023 and It is anticipated that the Arrangement will be completed on or about December 12, 2023, subject to the satisfaction of customary closing conditions. The transaction is expected to be immediately accretive to Haemonetics' revenue growth. On a GAAP basis, Haemonetics expects this transaction to be slightly dilutive to earnings per diluted share in fiscal year 2024 due to transaction and integration costs and accretive thereafter. Haemonetics expects this transaction to be immediately accretive to adjusted earnings per diluted share.
Goldman Sachs & Co. LLC served as financial advisor for Haemonetics and Robert Fonn and Ted Maduri of DLA Piper (Canada) LLP and Adam Ghander of DLA Piper LLP (US) as legal advisors. Piper Sandler & Co. served as OpSens' financial advisor, while Emmanuel Grondin and Renée Loiselle of Norton Rose Fulbright served as its legal advisor. PwC is acting as independent financial advisor to the Special Committee. TSX Trust Company is the transfer agent and depositary of Opsens. Kingsdale Advisors is the proxy solicitation agent for Opsens.
Haemonetics Corporation (NYSE : HAE) completed the acquisition of Opsens Inc. (TSX : OPS) on December 12, 2023. Haemonetics financed the acquisition through a combination of cash-on-hand and a $110 million (CAD 150 million) draw under its revolving credit facility. In connection with the closing of the transaction, OpSens’ common shares will cease trading in the public market and will be delisted from the Toronto Stock Exchange and withdrawn from the OTCQX. Ankündigung • Oct 11
Haemonetics Corporation (NYSE : HAE) entered into a definitive agreement to acquire Opsens Inc. (TSX : OPS) for CAD 345 million. Haemonetics Corporation (NYSE : HAE) entered into a definitive agreement to acquire Opsens Inc. (TSX : OPS) for CAD 345 million on October 10, 2023. Haemonetics will acquire all outstanding shares of OpSens for CAD $2.90 per share in an all-cash transaction representing a fully diluted equity value of approximately USD $253 million at current exchange rate. Haemonetics plans to finance this acquisition through a combination of cash and a revolving credit facility. Following this acquisition, Haemonetics' net debt to EBITDA ratio, per the terms set forth in the Company's existing Credit Agreement, is expected to be approximately 2.1x. The transaction will be affected by way of an arrangement under the Business Corporations Act (Québec). The transaction is expected to close by the end of January 2024. Completion of the acquisition is subject to the approval of OpSens shareholders, receipt of court and regulatory approval, as well as certain other closing conditions customary for transactions of this nature. OpSens' board of directors (the "Board") unanimously approved the Transaction and recommends that holders of Shares (the "Shareholders") vote in favour of the Transaction. The process and negotiation of the Transaction were supervised by a special committee of OpSens' Board (the "Special Committee"). Both the Board and the Special Committee determined, after receiving the fairness opinions of Piper Sandler & Co. ("Piper Sandler") and PricewaterhouseCoopers LLP ("PwC") and financial and legal advice, that the Transaction is in the best interests of the Corporation and is fair and reasonable to Shareholders. The Board also unanimously recommends that Shareholders vote in favour of the Transaction at the special meeting of Shareholders to be called to approve the Transaction (the "Meeting"). Goldman Sachs & Co. LLC served as financial advisor for Haemonetics and DLA Piper as legal advisor. Piper Sandler LLC served as OpSens' financial advisor, while Norton Rose Fulbright served as its legal advisor. PwC is acting as independent financial advisor to the Special Committee. The transaction is expected to be immediately accretive to Haemonetics' revenue growth. On a GAAP basis, Haemonetics expects this transaction to be slightly dilutive to earnings per diluted share in fiscal year 2024 due to transaction and integration costs and accretive thereafter. Haemonetics expects this transaction to be immediately accretive to adjusted earnings per diluted share. New Risk • Oct 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (6.1% increase in shares outstanding). Breakeven Date Change • Jul 14
Forecast to breakeven in 2025 The 6 analysts covering Opsens expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 12% per year to 2024. The company is expected to make a profit of CA$1.60m in 2025. Average annual earnings growth of 68% is required to achieve expected profit on schedule. Ankündigung • Jul 07
Opsens Inc. to Report Q3, 2023 Results on Jul 13, 2023 Opsens Inc. announced that they will report Q3, 2023 results Pre-Market on Jul 13, 2023 New Risk • Jun 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$19m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-CA$19m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (CA$3.1m net loss in 3 years). Shareholders have been diluted in the past year (6.3% increase in shares outstanding). Significant insider selling over the past 3 months (CA$79k sold). Ankündigung • May 11
OpSens Inc. Announces Inclusion of Savvywire™ in COMPLETE TAVR Study OpSens Inc. announced SavvyWire inclusion in the COMPLETE TAVR clinical study to investigate the impact of standardized invasive hemodynamics (SIH) during transcatheter aortic valve replacement or TAVR procedures. COMPLETE TAVR, an Investigator Initiated Study sponsored by Edwards Lifesciences, will determine whether a strategy of complete revascularization involving staged percutaneous coronary intervention (PCI) using drug eluting stents to treat all suitable coronary artery lesions after successful balloon expandable TAVR, is superior to a strategy of medical therapy alone in reducing the composite outcome of cardiovascular death, new myocardial infarction, ischemia-driven revascularization or hospitalization for unstable angina or heart failure. The COMPLETE TAVR study is a randomized, multicenter, open-label trial with blinded adjudication of outcomes with planned enrollment of 4,000 patients at up to 120 centers. The SIH sub-study using the SavvyWire will enroll up to 200 patients at up to 20 centers across the United States and Canada. The SIH sub-study using SavvyWire has already started enrollment, and is anticipated to be completed later in 2023, with results anticipated early in 2024. Dr. Wood will provide updates on the progress of the study as more data becomes available. SavvyWire is more than a wire, as the world's first and only sensor-guided TAVR solution. It uniquely provides a 3-in-1 solution for stable aortic valve delivery and positioning, continuous accurate hemodynamic measurement during the procedure, and reliable left ventricular pacing without the need for adjunct devices or venous access. Recent Insider Transactions • Apr 24
Independent Director recently sold CA$79k worth of stock On the 19th of April, Denis Sirois sold around 45k shares on-market at roughly CA$1.75 per share. This transaction amounted to 9.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$25k more than they bought in the last 12 months. Reported Earnings • Apr 14
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: CA$0.03 loss per share (further deteriorated from CA$0.022 loss in 2Q 2022). Revenue: CA$10.8m (up 34% from 2Q 2022). Net loss: CA$2.98m (loss widened 24% from 2Q 2022). Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 59% growth forecast for the Medical Equipment industry in Canada. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Breakeven Date Change • Feb 12
No longer forecast to breakeven The 5 analysts covering Opsens no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$3.90m in 2025. New consensus forecast suggests the company will make a loss of CA$5.50m in 2025. Major Estimate Revision • Jan 19
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 expected loss increased from -CA$0.10 to -CA$0.13 per share. Revenue forecast unchanged at CA$46.2m. Medical Equipment industry in Canada expected to see average net income growth of 14% next year. Consensus price target broadly unchanged at CA$3.70. Share price rose 21% to CA$2.11 over the past week. Breakeven Date Change • Jan 14
No longer forecast to breakeven The 5 analysts covering Opsens no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$3.90m in 2025. New consensus forecast suggests the company will make a loss of CA$5.50m in 2025. Reported Earnings • Jan 13
First quarter 2023 earnings: Revenues exceed analyst expectations First quarter 2023 results: Revenue: CA$10.2m (up 26% from 1Q 2022). Net loss: CA$3.64m (loss widened 74% from 1Q 2022). Revenue exceeded analyst estimates by 8.5%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 56% growth forecast for the Medical Equipment industry in Canada. Ankündigung • Jan 06
Opsens Inc. to Report Q1, 2023 Results on Jan 12, 2023 Opsens Inc. announced that they will report Q1, 2023 results Pre-Market on Jan 12, 2023 Ankündigung • Dec 23
Opsens Inc. has completed a Follow-on Equity Offering in the amount of CAD 10 million. Opsens Inc. has completed a Follow-on Equity Offering in the amount of CAD 10 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 5,263,158
Price\Range: CAD 1.9
Discount Per Security: CAD 0.114 Price Target Changed • Dec 23
Price target decreased to CA$3.73 Down from CA$4.23, the current price target is an average from 5 analysts. New target price is 96% above last closing price of CA$1.90. Stock is down 41% over the past year. The company is forecast to post a net loss per share of CA$0.10 next year compared to a net loss per share of CA$0.11 last year. Major Estimate Revision • Dec 02
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from CA$47.3m to CA$46.5m. Losses expected to increase from CA$0.08 per share to CA$0.10. Medical Equipment industry in Canada expected to see average net income growth of 16% next year. Consensus price target of CA$4.03 unchanged from last update. Share price fell 2.0% to CA$1.94 over the past week. Major Estimate Revision • Nov 29
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from CA$50.4m to CA$47.3m. Losses expected to increase from CA$0.07 per share to CA$0.08. Medical Equipment industry in Canada expected to see average net income growth of 16% next year. Consensus price target down from CA$4.23 to CA$4.03. Share price fell 12% to CA$1.98 over the past week. Reported Earnings • Nov 23
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: CA$0.11 loss per share (further deteriorated from CA$0.012 loss in FY 2021). Revenue: CA$35.3m (up 2.5% from FY 2021). Net loss: CA$11.4m (loss widened CA$10.2m from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 63% growth forecast for the Medical Equipment industry in Canada. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Ankündigung • Nov 18
Opsens Inc. to Report Q4, 2022 Results on Nov 22, 2022 Opsens Inc. announced that they will report Q4, 2022 results Pre-Market on Nov 22, 2022 Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Lori Chmura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Nov 08
Opsens Inc., Annual General Meeting, Jan 24, 2023 Opsens Inc., Annual General Meeting, Jan 24, 2023. Ankündigung • Oct 27
Opsens Inc. Announces First Savvywire Clinical Cases in Europe and Launch of Safe-Tavi Study OpSens Inc. announced the successful completion of the first cases in a clinical study, named SAFE-TAVI, studying SavvyWire(TM) left ventricular rapid pacing in transcatheter aortic valve replacement procedures, or TAVR, in Europe. Dr. Regueiro from Hospital Clínic de Barcelona, Spain, conducted the procedures as one of the primary investigators of the study. This study is part of the OpSens pre-CE mark clinical strategy that will lead to the commercialization of SavvyWire in Europe. OpSens' SavvyWire has previously received Health Canada and U.S. FDA clearance. Using SavvyWire for left ventricular pacing can eliminate the need for venous access, reduce procedure time, and avoid potential complications associated with right ventricular pacing. Dr. Josep Rodés-Cabau, from the Quebec Heart and Lung Institute (Institut Universitaire de Cardiologie et de Pneumologie de Québec or "IUCPQ"), is the global principal investigator of the SAFE-TAVI study that will enroll 120 patients with, among other conditions, severe aortic valve stenosis requiring a TAVR procedure in which left ventricular rapid pacing is considered necessary. The SAFE-TAVI study is planned to be conducted at up to nine hospitals: in eight renowned centers across Spain and in Canada, at the IUCPQ. As the global principal investigator of the SAFE-TAVI study, Dr. Rodés-Cabau will oversee andcoordinate the principal investigators in their respective Spanish hospitals. Ankündigung • Sep 24
Opsens Announces First Savvywire Procedure in the United States by Dr. Philippe Genereux of Morristown Medical Center Opsens Inc. announced that Dr. Philippe Genereux, Director of the Structural Heart Program at Morristown Medical Center in New Jersey, and his team, performed the first use of SavvyWire in a transcatheter aortic valve replacement (TAVR) procedure in the United States. SavvyWire is more than a wire, as the world's first and only sensor-guided TAVR solution. It uniquely provides a 3-in-1 solution for stable aortic valve delivery and positioning, continuous accurate hemodynamic measurement during the procedure, and reliable left ventricular pacing without the need for adjunct devices or venous access. Ankündigung • Sep 16
OpSens Inc. Announces FDA Clearance for the SavvyWire for Use in Transcatheter Aortic Valve Replacement (TAVR) Procedures OpSens Inc. announced that it has received 510(k) regulatory clearance from the U.S. Food & Drug Administration (FDA) for the SavvyWire™ (SavvyWire), its new guidewire for transcatheter aortic valve replacement procedures, or TAVR. The SavvyWire is the first and only Sensor-Guided TAVR solution, designed to support TAVR efficiency and lifetime patient management. The SavvyWire enables significant TAVR procedural benefits by supporting multiple steps over the same device without exchange, while delivering continuous, accurate hemodynamic measurements and display. The Evolution of TAVR; Aortic valve stenosis occurs when the heart's aortic valve narrows, preventing it from opening completely and restricting blood flow from the heart to the main artery (aorta) and then to the rest of the body. The TAVR procedure was initially only indicated for inoperable patients with severe symptomatic aortic stenosis, and later for patients at high surgical risk. Clinical programs such as PARTNER and COREVALVE have since shown better or equivalent clinical outcomes in intermediate and low surgical risk patients. The TAVR procedure is rapidly evolving toward a minimalist approach that advances the procedure and allows patients to leave the hospital earlier, sometimes the same day. The TAVR procedure is growing rapidly globally, driven by the aging population and recent studies that demonstrate its benefits for a broader array of patients. The global TAVR market is currently estimated at over 200,000 procedures and is expected to reach 400,000 in 2027. Major Estimate Revision • Jul 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -CA$0.07 to -CA$0.10 per share. Revenue forecast unchanged at CA$35.9m. Medical Equipment industry in Canada expected to see average net income growth of 15% next year. Consensus price target broadly unchanged at CA$4.15. Share price was steady at CA$2.33 over the past week. Reported Earnings • Jul 16
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: CA$0.026 loss per share (down from CA$0.005 loss in 3Q 2021). Revenue: CA$10.1m (up 9.1% from 3Q 2021). Net loss: CA$2.86m (loss widened 401% from 3Q 2021). Revenue exceeded analyst estimates by 8.7%. Earnings per share (EPS) missed analyst estimates by 50%. Over the next year, revenue is forecast to grow 38%, compared to a 569% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Breakeven Date Change • Jul 08
Forecast breakeven date pushed back to 2024 The 5 analysts covering Opsens previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of CA$5.60m in 2024. Average annual earnings growth of 71% is required to achieve expected profit on schedule. Ankündigung • Jul 08
Opsens Inc. to Report Q3, 2022 Results on Jul 14, 2022 Opsens Inc. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Jul 14, 2022 Recent Insider Transactions Derivative • Jun 11
CFO & Corporate Secretary exercised options to buy CA$115k worth of stock. On the 5th of June, Robin Villeneuve exercised options to buy 50k shares at a strike price of around CA$1.33, costing a total of CA$67k. This transaction amounted to 143% of their direct individual holding at the time of the trade. Since March 2022, Robin's direct individual holding has increased from 30.00k shares to 35.00k. Company insiders have collectively sold CA$11k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Jun 05
CFO & Corporate Secretary exercised options and sold CA$75k worth of stock On the 1st of June, Robin Villeneuve exercised 100k options at a strike price of around CA$1.33 and sold these shares for an average price of CA$2.08 per share. This trade did not impact their existing holding. Since March 2022, Robin's direct individual holding has increased from 30.00k shares to 35.00k. Company insiders have collectively sold CA$77k more than they bought, via options and on-market transactions in the last 12 months. Ankündigung • May 20
Opsens Inc. Announces New Data Supporting the Safety and Efficacy of its SavvyWire Recently Approved by Health Canada for Transcatheter Aortic Valve Replacement Procedures OpSens Inc. announced new data supporting the safety and efficacy of its SavvyWire recently approved by Health Canada for transcatheter aortic valve replacement (TAVR) procedures. The results of the 20 patient first-in-human clinical study of the SavvyWire were presented earlier at the 2022 EuroPCR conference, and simultaneously published in the EuroIntervention journal. The new clinical data presented by Dr. Josep Rodés-Cabau from the Quebec Heart and Lung Institute (Institut Universitaire de Cardiologie et de Pneumologie de Québec or "IUCPQ") support the safety and efficacy of the SavvyWire for TAVR procedures. A total of 12 patients received an Evolut PRO+ (Medtronic) valve and eight patients received a SAPIEN 3/ULTRA valve (Edwards Lifesciences). Patient enrollment was performed at IUCPQ by Dr. Rodés-Cabau and at the Montreal Heart Institute by Dr. Reda Ibrahim. Appropriate left ventricular rapid pacing was achieved in all patients, resulting in an adequate reduction of aortic pressure. No procedural mortality, stroke, cardiac perforation, or guidewire malfunction were reported. Importantly, continuous, and accurate recording of pressure measurements during the TAVR procedures was achieved in all patients, with an excellent correlation between systolic and left ventricular end-diastolic pressure obtained using traditional pigtail catheters and the new SavvyWire. The SavvyWire is a third-generation, intelligent and pre-shaped structural guidewire, with integrated pressure monitoring and the capacity to perform left ventricular pacing. This device aims at improving procedural efficiency and clinical outcomes by allowing multiple steps over the same device without exchange, in line with the minimalist approach. TAVR Procedure Evolution: Aortic valve stenosis occurs when the heart's aortic valve narrows, which prevents the valve from opening fully, restricting blood flow from the heart into the main artery (aorta) and onward to the rest of the body. Initially, the TAVR procedure was only indicated for inoperable patients and then for high-risk surgical patients. Clinical programs like ''PARTNER III'' and ''Evolut Low Risk'', have since shown better or equivalent clinical outcomes in intermediate and low-risk patients. The TAVR procedure is now evolving quickly with a minimalist approach that allows the procedure to be faster and the patients to be discharged earlier, sometimes on the same day. The TAVR procedure is on the rise, driven by an aging of the population and recent studies that demonstrate its benefits to patients of all conditions. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Lori Chmura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 27
Opsens Inc. Announces Health Canada Approval for Its New TAVR Guidewire OpSens Inc. received Health Canada approval for the SavvyWire(TM), its new guidewire for transcatheter aortic valve replacement procedures, or TAVR. The SavvyWire, a third-generation, intelligent, pre-shaped, structural guidewire with integrated pressure monitoring, aims at improving procedural efficiency and clinical outcomes by allowing multiple steps over the same device without exchange. This device is designed to support the growing minimalist TAVR approach. With the SavvyWire, physicians can expect to implant the percutaneous valve over the same device while obtaining continuous and accurate hemodynamic measurements to assist their diagnosis. The evolution of TAVR Aortic valve stenosis occurs when the heart's aortic valve narrows, preventing it from opening completely and restricting blood flow from the heart to the main artery (aorta) and then to the rest of the body. The TAVR procedure was initially only indicated for inoperable patients with severe symptomatic aortic stenosis, and later for patients at high surgical risk. Clinical programs such as PARTNER and COREVALVE have since shown better or equivalent clinical outcomes in intermediate and low surgical risk patients. The TAVR procedure is rapidly evolving toward minimalist approach that advances the procedure and allows patients to leave the hospital earlier, sometimes the same day. Major Estimate Revision • Apr 20
Consensus EPS estimates fall by 69% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CA$38.5m to CA$36.8m. Losses expected to increase from CA$0.04 per share to CA$0.07. Medical Equipment industry in Canada expected to see average net income growth of 19% next year. Consensus price target broadly unchanged at CA$4.22. Share price rose 21% to CA$2.35 over the past week. Reported Earnings • Apr 14
Second quarter 2022 earnings: EPS in line with expectations, revenues disappoint Second quarter 2022 results: CA$0.022 loss per share (down from CA$0 in 2Q 2021). Revenue: CA$8.10m (down 8.3% from 2Q 2021). Net loss: CA$2.40m (down CA$2.45m from profit in 2Q 2021). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 37%, compared to a 321% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Apr 07
Opsens Inc. to Report Q2, 2022 Results on Apr 13, 2022 Opsens Inc. announced that they will report Q2, 2022 results Pre-Market on Apr 13, 2022 Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Lori Chmura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 03
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Lori Chmura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Feb 10
OpSens Inc Appoints Brad Davis as Chief Commercial Officer OpSens Inc. announced that Brad Davis will assume the role of Chief Commercial Officer and head a leadership team responsible for global commercialization and expanding U.S. commercial operations. He will report to Louis Laflamme, OpSens President and CEO. Brad Davis formerly served as Vice President, Global Marketing and Health Care Economics & Reimbursement at Cardiovascular Systems Inc. (CSI). During his nearly seven-year tenure at CSI, the company tripled coronary atherectomy revenue and grew peripheral atherectomy revenue faster than market to achieve U.S. Recent Insider Transactions Derivative • Jan 28
Independent Director exercised options to buy CA$245k worth of stock. On the 24th of January, Jean Lavigueur exercised options to buy 125k shares at a strike price of around CA$1.68, costing a total of CA$210k. This transaction amounted to 89% of their direct individual holding at the time of the trade. Since June 2021, Jean's direct individual holding has increased from 140.00k shares to 265.00k. Company insiders have collectively bought CA$158k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Jan 15
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: CA$0.02 loss per share (down from CA$0.007 profit in 1Q 2021). Revenue: CA$8.10m (down 2.9% from 1Q 2021). Net loss: CA$2.09m (down 452% from profit in 1Q 2021). Revenue missed analyst estimates by 100%. Earnings per share (EPS) were also behind analyst estimates. Earnings per share (EPS) were behind analyst estimates. Over the next year, revenue is forecast to grow 43%, compared to a 635% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 15
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: CA$0.02 loss per share (down from CA$0.007 profit in 1Q 2021). Revenue: CA$8.10m (down 2.9% from 1Q 2021). Net loss: CA$2.09m (down 452% from profit in 1Q 2021). Revenue missed analyst estimates by 100%. Earnings per share (EPS) were also behind analyst estimates. Earnings per share (EPS) were behind analyst estimates. Over the next year, revenue is forecast to grow 43%, compared to a 635% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Dec 15
Opsens Inc. Announces 510(K) Submission to U.S. FDA for New Guidewire for the Tavr Procedure OpSens Inc. announced that it has filed a 510(k) submission with the U.S. Food & Drug Administration ("FDA") for regulatory clearance of its new guidewire ("SavvyWire") for transcatheter aortic valve replacement, or TAVR procedures. OpSens has also filed for approval with Health Canada. The SavvyWire, a new intelligent, pre-shaped, structural guidewire with integrated pressure monitoring, aims at improving procedural efficiency and clinical outcomes by allowing multiple steps over the same device without exchange. This device has been designed to support the minimalist TAVR approach which has been growing among structural heart physicians. With the SavvyWire, physicians can expect to diagnose and implant the percutaneous valve over the same device while getting continuous and accurate hemodynamic measurements. Breakeven Date Change • Nov 26
Forecast breakeven date pushed back to 2023 The 5 analysts covering Opsens previously expected the company to break even in 2022. New consensus forecast suggests the company will make a profit of CA$6.30m in 2023. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Reported Earnings • Nov 25
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: CA$0.01 loss per share (up from CA$0.029 loss in FY 2020). Revenue: CA$34.5m (up 17% from FY 2020). Net loss: CA$1.15m (loss narrowed 56% from FY 2020). Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) exceeded analyst estimates by 300%. Earnings per share (EPS) surpassed analyst estimates by 300%. Over the next year, revenue is forecast to grow 30%, compared to a 656% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 25
Price target increased to CA$4.28 Up from CA$3.79, the current price target is an average from 3 analysts. New target price is 30% above last closing price of CA$3.29. Stock is up 196% over the past year. The company is forecast to post a net loss per share of CA$0.0075 next year compared to a net loss per share of CA$0.01 last year. Ankündigung • Nov 24
Opsens Inc. Successfully Completes 20-Patient in Human Clinical Study for TAVR Procedure OpSens Inc. announce the successful treatment of 20 patients leading to the completion of the first in-man clinical study utilizing the SavvyWire. The wire was designed and developed to improve the intervention workflow for transcatheter aortic valve replacement ("TAVR") and is the first guidewire able to both deliver a valvular prosthesis while allowing continuous hemodynamic pressure measurement during the procedure. The SavvyWire is not yet approved for commercialization. Aortic valve stenosis occurs when the heart's aortic valve narrows, which prevents the valve from opening fully, restricting blood flow from the heart into the main artery (aorta) and onward to the rest of the body. Initially, the TAVR procedure was only indicated for inoperable patients and then for high-risk surgical patients. Clinical programs like ''PARTNER III'' and ''Evolut Low Risk'', have since shown better or equivalent clinical outcomes in intermediate and low-risk patients. The TAVR procedure is now evolving quickly with a minimalist approach that allows the procedure to be faster and the patients to be discharged earlier, sometimes on the same day. Recent Insider Transactions • Oct 23
Independent Director recently sold CA$139k worth of stock On the 20th of October, Denis Sirois sold around 45k shares on-market at roughly CA$3.09 per share. In the last 3 months, there was an even bigger sale from another insider worth CA$159k. Despite this recent sale, insiders have collectively bought CA$73k more than they sold in the last 12 months. Recent Insider Transactions Derivative • Oct 20
Independent Director exercised options to buy CA$368k worth of stock. On the 14th of October, Denis Sirois exercised options to buy 125k shares at a strike price of around CA$1.58, costing a total of CA$197k. This transaction amounted to 30% of their direct individual holding at the time of the trade. Since December 2020, Denis' direct individual holding has increased from 396.00k shares to 416.00k. Company insiders have collectively bought CA$251k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Sep 29
President exercised options and sold CA$230k worth of stock On the 27th of September, Louis Laflamme exercised 100k options at a strike price of around CA$0.80 and sold these shares for an average price of CA$3.10 per share. This trade did not impact their existing holding. For the year to August 2020, Louis' total compensation was 80% salary and 20% non-salary. Since December 2020, Louis has owned 681.00k shares directly. Company insiders have collectively bought CA$54k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Sep 29
Director recently bought CA$310k worth of stock On the 27th of September, Gaétan Duplain bought around 100k shares on-market at roughly CA$3.10 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$212k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 29
Director recently bought CA$310k worth of stock On the 27th of September, Gaétan Duplain bought around 100k shares on-market at roughly CA$3.10 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$212k more in shares than they have sold in the last 12 months. Price Target Changed • Sep 21
Price target increased to CA$3.79 Up from CA$2.99, the current price target is an average from 5 analysts. New target price is 46% above last closing price of CA$2.59. Stock is up 270% over the past year. Ankündigung • Sep 21
OPSENS Receives Approval from Health Canada to Initiate First In-Man Clinical Study for its New Guidewire for the TAVR Procedure OpSens Inc. announced that it has received Health Canada approval to commence the first in-man study with its SavvyWire, a guidewire developed specifically for transcatheter aortic valve replacement ("TAVR"). The SavvyWire is the first guidewire intended to both deliver the aortic valve prosthesis while allowing continuous hemodynamic pressure measurement during the procedure. Health Canada's approval allows OpSens to commence the 20-patients study shortly at two world-renowned structural cardiology institutions that contributed to the development of the SavvyWire. Dr. Josep Rodés-Cabau at The Quebec Heart and Lung Institute Research Centre ("IUCPQ") and Dr. Réda Ibrahim at The Montreal Heart Institute ("MHI") will be the primary investigators. Aortic valve stenosis occurs when the heart's aortic valve narrows, which prevents the valve from opening fully, restricting blood flow from the heart into the main artery (aorta) and onward to the rest of the body. Initially, the TAVR procedure was only indicated for inoperable patients and then for high-risk surgical patients. Clinical programs like PARTNER or COREVALVE, have since shown better or equivalent clinical outcomes in intermediate and low-risk patients. The TAVR procedure is now evolving quickly with a minimalist approach that allows the procedure to be faster and the patients to be discharged earlier, sometimes on the same day. Board Change • Sep 14
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Executive Chairman of the Board Alan Milinazzo was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 22
Independent Director recently bought CA$150k worth of stock On the 17th of August, James Mackin bought around 100k shares on-market at roughly CA$1.50 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$74k more in shares than they bought in the last 12 months. Recent Insider Transactions • Aug 20
Independent Director recently bought CA$150k worth of stock On the 17th of August, James Mackin bought around 100k shares on-market at roughly CA$1.50 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$25k more in shares than they have sold in the last 12 months. Major Estimate Revision • Jul 20
Consensus forecasts updated The consensus outlook for 2021 has been updated. Medical Equipment industry in Canada expected to see average net income growth of 31% next year. Consensus price target up from CA$2.99 to CA$3.14. Share price fell 3.5% to CA$2.19 over the past week. Reported Earnings • Jul 15
Third quarter 2021 earnings released The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CA$9.23m (up 39% from 3Q 2020). Net loss: CA$570.5k (down CA$622.1k from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 28
Price target increased to CA$3.00 Up from CA$2.69, the current price target is an average from 4 analysts. New target price is 67% above last closing price of CA$1.80. Stock is up 200% over the past year. Reported Earnings • Apr 16
Second quarter 2021 earnings released: EPS CA$0.001 (vs CA$0.015 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$8.83m (up 6.9% from 2Q 2020). Net income: CA$40.7k (up CA$1.42m from 2Q 2020). Profit margin: 0.5% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 13
Price target raised to CA$2.56 Up from CA$2.35, the current price target is an average from 4 analysts. The new target price is 53% above the current share price of CA$1.68. As of last close, the stock is up 180% over the past year. Ankündigung • Feb 26
Opsens Inc. has completed a Follow-on Equity Offering in the amount of CAD 25 million. Opsens Inc. has completed a Follow-on Equity Offering in the amount of CAD 25 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 13,888,889
Price\Range: CAD 1.8
Discount Per Security: CAD 0.108 Ankündigung • Feb 19
Opsens Inc. Obtains CE Marking for the OptoWire III OpSens Inc. has announced it has received CE marking for the OptoWire III, the latest generation of its flagship product. CE Marking allows the OptoWire III to be marketed in the European Union, the Middle East and Africa (EMEA). Accurate assessment of the severity of coronary artery disease is essential, and pressure guidewires have been shown to improve clinical outcomes when used to diagnose coronary artery stenosis. Based on Fidela, OpSens' second-generation fiber optic sensor, the Company has developed the OptoWire III, the most efficient pressure guidewire in the industry, a product that fulfills several unmet needs of cardiologists for their most complex cases and their demands for performance, accuracy, and reliability. Since the launch of the first OptoWire version, OpSens has continued and will continue to invest in research to further develop its product and offer a choice between hyperemic indices, such as FFR, which is performed while the heart is stimulated by the injection of medication and non-hyperemic indices, such as dPR, a measurement performed without heart stimulation and where accuracy is of the utmost importance. Analyst Estimate Surprise Post Earnings • Jan 19
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 34%, compared to a 393% growth forecast for the Medical Equipment industry in Canada. Price Target Changed • Jan 15
Price target raised to CA$2.13 Up from CA$1.90, the current price target is an average from 4 analysts. The new target price is 36% above the current share price of CA$1.56. As of last close, the stock is up 81% over the past year. Analyst Estimate Surprise Post Earnings • Jan 15
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 32%, compared to a 389% growth forecast for the Medical Equipment industry in Canada. Reported Earnings • Jan 14
First quarter 2021 earnings released: EPS CA$0.01 The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$8.34m (up 19% from 1Q 2020). Net income: CA$594.2k (up CA$2.47m from 1Q 2020). Profit margin: 7.1% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 24
New 90-day high: CA$1.29 The company is up 90% from its price of CA$0.68 on 25 September 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$3.84 per share. Analyst Estimate Surprise Post Earnings • Nov 21
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.5%. Earnings per share (EPS) also missed analyst estimates by 25%. Over the next year, revenue is forecast to grow 31%, compared to a 233% growth forecast for the Medical Equipment industry in Canada. Ankündigung • Nov 07
Opsens Inc., Annual General Meeting, Jan 19, 2021 Opsens Inc., Annual General Meeting, Jan 19, 2021. Is New 90 Day High Low • Nov 05
New 90-day high: CA$0.80 The company is up 7.0% from its price of CA$0.75 on 06 August 2020. The Canadian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$3.10 per share. Ankündigung • Oct 15
Opsens Inc. Wins Contract by Major U.S. Group Purchasing Organization OpSens Inc. announced it has been awarded a 3-year contract by a major American Group Purchasing Organization (GPO). This new contract will provide access to the OptoWire to all their members across the United States. OptoWire offers physicians several competitive advantages, including superior steerability, improved accuracy through the lowest drift in the industry, and freedom in workflow allowing for easy disconnect and reconnect to diagnose and deliver stents on the same guidewire. Since OptoWire's approval in 2015, more than 100,000 patients have been evaluated or treated utilizing the system.