24/7 Market News Snapshot 11 November, 2024 – Nuwellis, Inc. Common Stock (NASDAQ:NUWE)

November 11, 2024

DENVER, Colo., 11 November, 2024 (247marketnews.com) – (NASDAQ:NUWE) are discussed in this article.
Nuwellis, Inc. has demonstrated remarkable financial and operational momentum, evidenced by a significant surge in pre-market trading and a solid performance in the third quarter of 2024. Following a notable 25.75% increase in share price, trading at $2.276, Nuwellis has captured investor attention with a robust trading volume of 1.49 million shares, underscoring heightened confidence in the company’s strategic direction.

Highlighting its commitment to addressing fluid overload challenges in patients, Nuwellis reported third-quarter revenues of $2.4 million. A pivotal factor in this success is a remarkable 297% increase in reimbursement rates from the Centers for Medicare and Medicaid Services (CMS), set to take effect on January 1, 2025. The revised facility fee for the Aquadex ultrafiltration therapy, now at $1,639, is anticipated to enhance the outpatient market for fluid removal therapies significantly.

CEO Nestor Jaramillo emphasized the company’s successful efforts in increasing market adoption of Aquadex, particularly noting a 28% growth in pediatric revenue year-over-year. This rise highlights the growing recognition of the effectiveness of the Aquadex system in treating patients across demographics. Additionally, improvements in clinical outcomes, supported by recent studies indicating reductions in heart failure readmissions, bolster the technology’s credibility.

Financially, the company reported a gross margin increase to 70%, up from 57.3% year-over-year, largely due to enhanced manufacturing efficiencies. Operating costs have also decreased by 30%, further solidifying Nuwellis’s financial stability, which boasts no outstanding debt and about $1.9 million in cash reserves.

Nuwellis, Inc. is strategically positioned for ongoing growth and innovation within the healthcare sector, with a clear objective to establish Aquadex as the standard of care for managing fluid overload in patients unresponsive to traditional therapies.

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