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Jun 30, 2020
TransMedics Q2 2020 Earnings Report
Reported a decrease in revenue due to the impact of the COVID-19 pandemic, but achieved several significant milestones.
Key Takeaways
TransMedics reported a decrease in revenue for the second quarter of 2020 due to the COVID-19 pandemic. However, the company achieved several milestones, including the rescheduling of the OCS Heart FDA Advisory Committee meeting, submission of the OCS Liver PMA to the FDA, and progress in the OCS Heart DCD U.S. clinical program. The company is focused on securing approvals for its OCS products in the U.S. in 2021.
OCS Heart FDA Advisory Committee meeting rescheduled as a virtual meeting to be held on October 7, 2020
Submitted OCS Liver PMA to FDA in June 2020
OCS Heart DCD U.S. clinical program surpassed 50 transplants; enrollment completion expected in Q4 2020
Completed underwritten public equity offering raising $75 million in net proceeds
Forward Guidance
TransMedics is not providing annual guidance for 2020 due to the unpredictability of the duration and the magnitude of the impact of the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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