RMED - Ra Medical plunges 13% after wider Q4 loss

Ra Medical (NYSE:RMED) stock declined 13% after it posted Q4 GAAP EPS of -$1.23, which missed estimates by $0.38 The company reported net revenue for the quarter of $5,000 from product sales, compared with no net revenue a year earlier for the same quarter. Research and development costs for the quarter were $3.7M, compared with $3.4M in the same period a year ago. The company reported net revenue for the full year of $22K, compared to $0.3M in the same period a year ago. Adjusted EBITDA for 2021 was negative $26.5 million, compared with negative $29.7 million for 2020. In a post-earnings call, CEO Will McGuire noted that pandemic continues to impact industry's ability to conduct clinical studies, and persistent supply chain challenges have also affected engineering project schedules.

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Ra Medical plunges 13% after wider Q4 loss