APYX Apyx Medical

Apyx Medical Corp. operates as an energy-based medical technology company. The firm engages in developing, manufacturing, and marketing a range of electrosurgical products and technologies, as well as related medical products used the offices of doctors, surgery centers, and hospitals worldwide. It operates through the following segments: Advanced Energy and Original Equipment Manufacture (OME). The company was founded by Andrew Makrides in 1978 and is headquartered in Clearwater, FL.
Company profile
Ticker
APYX
Exchange
Website
CEO
Robert Gershon
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Boston Scientific • Baxter International • Becton, Dickinson And • 3M • Stryker • Teleflex • Resmed • Hill-Rom • Integra Lifesciences • Nuvasive ...
Former names
AN CON GENETICS INC, BOVIE MEDICAL CORP, BOVIE MEDICAL Corp
SEC CIK
Corporate docs
IRS number
112644611
APYX stock data
()
News
The Daily Biotech Pulse: Adcom Test Awaits J&J's COVID-19 Vaccine, Lilly To Supply Additional Antibody Therapy Doses To US, Regulatory Setback For Tricida
26 Feb 21
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25 Feb 21
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25 Feb 21
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24 Feb 21
The Daily Biotech Pulse: DermTech Soars On Contract, Fluidigm Plunges On Earnings, Decision Day For Regeneron, Bioventus Debuts
11 Feb 21
Press releases
Investment data
Securities sold
Number of investors
Calendar
9 Nov 20
2 Mar 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 43.54M | 43.54M | 43.54M | 43.54M | 43.54M | 43.54M |
Cash burn (monthly) | 872.33K | 1.99M | 1.48M | 1.91M | 872K | 1.63M |
Cash used (since last report) | 4.4M | 10.01M | 7.48M | 9.62M | 4.4M | 8.24M |
Cash remaining | 39.14M | 33.52M | 36.06M | 33.92M | 39.14M | 35.3M |
Runway (months of cash) | 44.9 | 16.9 | 24.3 | 17.8 | 44.9 | 21.6 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
29 Jan 21 | Tara Semb | Stock Option (Option to Buy) Common Stock | Grant | Aquire A | No | No | 9.29 | 48,000 | 445.92K | 48,000 |
29 Jan 21 | Goodwin Charles D. II | Common Stock Common Stock | Grant | Aquire A | No | No | 9.29 | 121,500 | 1.13M | 121,500 |
29 Jan 21 | Todd Hornsby | Stock Option (Option to Buy) Common Stock | Grant | Aquire A | No | No | 9.29 | 50,000 | 464.5K | 50,000 |
29 Jan 21 | Moshe Citronowicz | Stock Option (Option to Buy) Common Stock | Grant | Aquire A | No | No | 9.29 | 36,000 | 334.44K | 36,000 |
7 Oct 20 | Craig A. Swandal | Common Stock | Option exercise | Aquire M | No | No | 7.28 | 7,084 | 51.57K | 17,000 |
7 Oct 20 | Craig A. Swandal | Stock Option (Option to Buy) Common Stock | Option exercise | Dispose M | No | No | 7.28 | 7,084 | 51.57K | 0 |
4 Mar 20 | Craig A. Swandal | Common Stock | Option exercise | Aquire M | No | No | 7.28 | 9,916 | 72.19K | 17,000 |
4 Mar 20 | Craig A. Swandal | Stock Option (Option to Buy) Common Stock | Option exercise | Dispose M | No | No | 7.28 | 9,916 | 72.19K | 0 |
Institutional ownership Q1 2021
13F holders |
Current |
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Total holders | 0 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares |
Current |
---|---|
Total value | 0 |
Total shares | 0 |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
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Financial report summary
?Risks
- The energy-based medical device industry in the aesthetics market is highly competitive and we may be unable to compete effectively.
- Maintaining strong relationships with plastic surgeons, cosmetic physicians, and other healthcare professionals, is critical to the success of our product commercialization strategy.
- We rely on our internal sales force and sales partners to market and sell our products. If we are unable to hire, effectively train, and retain these professionals, future sales and profitability may be adversely affected.
- If we are unable to successfully introduce new products or fail to keep pace with competitive advances in technology, our business, financial condition and results of operations could be adversely affected. In addition, our research and development efforts rely upon investments and alliances and we cannot guarantee that any previous or future investments or alliances will be successful.
- Even if we are successful in developing new, or enhancing our existing products, there are various circumstances that could prevent their successful commercialization.
- Our industry is highly regulated by the U.S. Food and Drug Administration and international regulatory authorities, as well as other governmental, state and federal agencies which have substantial authority to establish criteria which must be complied with in order for us to continue in operation.
- Changes in U.S. trade policies could significantly increase the cost of imported goods into the United States, which may materially reduce our sales or profitability.
- Our operations may experience higher costs to produce our products as a result of changes in prices for oil, gasoline and other commodities.
- The recent Coronavirus outbreak has been declared a pandemic by the World Health Organization and recently has spread to the United States and many other parts of the world and may continue to adversely affect our business operations, employee availability, financial condition, liquidity and cash flow for an extended period of time.
- We rely on certain suppliers, subcontractors, and manufacturers for raw materials and other products and are vulnerable to fluctuations in the availability and price of such products and services.
- If we are unable to protect our patents or other proprietary rights, or if we infringe on the patents or other proprietary rights of others, our competitiveness and business prospects may be materially damaged.
- We have been and may in the future become subject to litigation proceedings that could materially and adversely affect our business.
- Our business is subject to the potential for recalls or safety alerts, litigation and negative publicity associated with defects or failures of our products, or their misuse\off-label use by physicians.
- Economic conditions could adversely affect our business and financial condition.
- There may be circumstances that arise that may cause us to use some of our existing financial assets ineffectively.
- We may, in the future, identify deficiencies in controls over financial reporting.
- We are at risk of being the victim of a cyber-attack or a security breach that may expose confidential customer, product and Company data or compromise our internal IT infrastructure. This could lead to liabilities resulting from failure to comply with US and foreign data security and privacy regulations and negative impacts to our business operations.
- Our manufacturing facilities are located in Clearwater, Florida and Sophia, Bulgaria and could be affected due to multiple weather risks, including risks to our Florida facility from hurricanes and similar phenomena.
- The market price of our stock has been and may continue to be highly volatile.
- We have no present intention to pay dividends on our common stock and, even if we change that policy, we may be unable to pay dividends on our common stock.
- Exercise of options issued by us will dilute the ownership interest of existing stockholders.
Management Discussion
- Total revenue from continuing operations increased by 70.0% or approximately $11.6 million for the year ended December 31, 2019 when compared with 2018. Advanced Energy segment sales increased 74.6% or approximately $9.7 million for the year ended December 31, 2019 when compared with 2018. The increase is a result of the impact made by the additional sales force in the U.S. and new international distributors. In both the U.S. and internationally, strong sales growth of generators was coupled with utilization based demand for our handpieces. In addition, we entered four new markets in 2019, the largest of which were Mexico and Canada.
- The OEM product line consists of proprietary products designed specifically for third party equipment manufacturers; revenue for this product line increased 53.6% or approximately $1.9 million when compared to 2018. The increase from 2018 is primarily attributable to sales to Symmetry under our Manufacture and Supply Agreement, which commenced following the disposition of the Core Business in August 2018.
- Overall sales from continuing operations increased by 62.3% or approximately $6.4 million for the year ended December 31, 2018 when compared with 2017. Advanced Energy segment sales increased 70.1% or approximately $5.4 million for the year ended December 31, 2018 when compared with 2017. The increase was primarily driven by a continued focus of our selling into the cosmetic surgery market and sales growth in international markets. The OEM product line consists of proprietary products designed specifically for third party equipment manufacturers; revenue for this product line increased 39.3% or approximately $1.0 million when compared to 2017.
Content analysis
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Readability |
H.S. sophomore Avg
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New words:
advertising, confirm, cumulative, final, fourth, intrinsic, JV, older, ownership, percentage, registration, settled, successful, unknown
Removed:
amortized, deductible, history
Financial reports
10-Q
2020 Q3
Quarterly report
9 Nov 20
10-Q
2020 Q2
Quarterly report
10 Aug 20
10-Q
2020 Q1
Quarterly report
11 May 20
10-Q/A
2019 Q1
Quarterly report (amended)
8 May 20
10-Q/A
2018 Q3
Quarterly report (amended)
8 May 20
10-K
2019 FY
Annual report
31 Mar 20
NT 10-K
Notice of late annual filing
16 Mar 20
10-Q
2019 Q3
Quarterly report
15 Nov 19
NT 10-Q
Notice of late quarterly filing
12 Nov 19
10-Q
2019 Q2
Quarterly report
7 Aug 19
Current reports
8-K
Apyx Medical Corporation Reports Preliminary Full Year and Fourth Quarter 2020 Revenue Results
13 Jan 21
8-K
Entry into a Material Definitive Agreement
12 Nov 20
8-K
Apyx Medical Corporation Reports Third Quarter 2020 Financial Results
9 Nov 20
8-K
Entry into a Material Definitive Agreement
18 Sep 20
8-K
Changes in Registrant's Certifying Accountant
21 Aug 20
8-K
Submission of Matters to a Vote of Security Holders
10 Aug 20
8-K
Apyx Medical Corporation Reports Second Quarter 2020 Financial Results
10 Aug 20
8-K
Apyx Medical Corporation Reports First Quarter 2020 Financial Results
11 May 20
8-K/A
Results of Operations and Financial Condition
18 Mar 20
8-K
Results of Operations and Financial Condition
16 Mar 20
Registration and prospectus
S-8
Registration of securities for employees
28 Sep 19
8-A12B/A
Registration of securities on exchange (amended)
31 Dec 18
25
Voluntary exchange delisting
31 Dec 18
S-3/A
Shelf registration (amended)
16 May 18
S-3
Shelf registration
4 May 18
S-8
Registration of securities for employees
22 Jan 18
424B5
Prospectus supplement for primary offering
9 Nov 16
424B7
Prospectus with selling stockholder info
9 Nov 16
424B7
Prospectus with selling stockholder info
8 Nov 16
424B5
Prospectus supplement for primary offering
8 Nov 16
Proxies
DEFA14A
Additional proxy soliciting materials
30 Jun 20
DEF 14A
Definitive proxy
26 Jun 20
DEF 14A
Definitive proxy
21 Jun 19
DEF 14A
Definitive proxy
27 Jul 18
PRE 14A
Preliminary proxy
17 Jul 18
DEFA14A
Additional proxy soliciting materials
27 Aug 17
DEF 14A
Definitive proxy
6 Aug 17
DEF 14A
Definitive proxy
27 Jul 17
PRE 14A
Preliminary proxy
27 Jul 17
DEF 14A
Definitive proxy
9 Jun 16
Other
SD
Conflict minerals disclosure
1 Jun 20
SD
Conflict minerals disclosure
31 May 19
SD
Conflict minerals disclosure
24 May 18
EFFECT
Notice of effectiveness
17 May 18
CORRESP
Correspondence with SEC
15 May 18
UPLOAD
Letter from SEC
8 May 18
SD
Conflict minerals disclosure
30 May 17
SD
Conflict minerals disclosure
23 May 16
SD
Conflict minerals disclosure
28 May 15
EFFECT
Notice of effectiveness
27 Apr 15
Ownership
SC 13G/A
Apyx Medical / Archon Capital Management ownership change
15 Feb 21
5
Apyx Medical / Lawrence Waldman ownership change
12 Feb 21
5
Apyx Medical / Craig A. Swandal ownership change
12 Feb 21
SC 13G/A
Apyx Medical / RTW INVESTMENTS ownership change
12 Feb 21
4
Apyx Medical / MOSHE CITRONOWICZ ownership change
10 Feb 21
4
Apyx Medical / Todd Hornsby ownership change
9 Feb 21
4
Apyx Medical / Charles D. Goodwin II ownership change
9 Feb 21
4
Apyx Medical / Tara Semb ownership change
9 Feb 21
SC 13G/A
Apyx Medical / BlackRock ownership change
28 Jan 21
4
Apyx Medical / ANDREW MAKRIDES ownership change
10 Aug 20
Patents
GRANT
Utility
Devices, systems and methods for enhancing physiological effectiveness of medical cold plasma discharges
16 Feb 21
An electrosurgical apparatus for generating a plasma discharge beam is provided.
APP
Utility
Skin Status Monitor and Method Thereof for Electrosurgical Apparatuses
14 Jan 21
A skin status monitoring apparatus that includes one or more sensors for sensing the applied energy density to an operative site in real time based on one or more monitored variables is provided.
GRANT
Utility
Electrosurgical apparatus with retractable blade
4 Jan 21
An electrosurgical apparatus with a retractable blade for use in cold plasma applications, electrosurgical cutting and mechanical cutting is provided.
APP
Utility
Electrosurgical Snare Device
17 Jun 20
An electrosurgical snare device is provided which uses a flow of inert gas to assist in the cutting and sealing process of tissue, while substantially reducing the fornnation of eschar and collateral tissue damage.
GRANT
Utility
Electrosurgical snare device
23 Mar 20
An electrosurgical snare device is provided which uses a flow of inert gas to assist in the cutting and sealing process of tissue, while substantially reducing the formation of eschar and collateral tissue damage.