SAN FRANCISCO, CA--(Marketwired - May 25, 2017) - Viveve Medical Inc.'s (
Included in this article is: Viveve Medical Inc.
Viveve Medical Inc. released its Q1/17 financials on May 11, reporting revenue of approximately $3 million, beating analyst expectations. The company also reported that it launched its U.S. commercial sales team in late January, and 62% of sales that quarter derive from the United States.
The company also closed a public offering that resulted in gross proceeds of $34.5 million. The offering was originally $25 million and was increased because of high demand.
Viveve is a medical technology company focused on new solutions to improve women's overall well-being and quality of life. According to the company, the Viveve System uses radio frequency energy-based technology to "uniformly deliver volumetric heating while gently cooling surface tissue to generate robust neocollagenesis in one 30-minute in-office session. Viveve is currently in the process of submitting an IDE [investigational device exemption] to the FDA to conduct a pivotal study on use of the device in the United States for improvement in sexual function."
Industry analysts reacted positively to the results. Jeffrey S. Cohen of Ladenburg Thalmann noted in a May 12 report that "Q1 revenue increased 137% on an annual basis and 24% sequentially as the company's commercial and clinical activities continue to drive adoption and penetration in the marketplace, particularly in the United States from the recent commercial launch."
Continue reading this article: Innovative Company Focused on Women's Health Completes Record-Breaking Quarter
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