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KORU Medical Systems Announces 2022 First Quarter Financial Results
CHESTER, N.Y.--(BUSINESS WIRE)-- Repro Med Systems, Inc. dba KORU Medical Systems (NASDAQ: KRMD) ("KORU Medical" or the "Company"), a leading medical
About this update from Koru Medical Systems, Inc.
[{"type":"text","content":" CHESTER, N.Y.--(BUSINESS WIRE)--\nRepro Med Systems, Inc. dba KORU Medical Systems (NASDAQ: KRMD) (\"KORU Medical\" or the \"Company\"), a leading medical technology company focused on the development, manufacturing, and commercialization of innovative and easy-to-use specialty infusion solutions that improve quality of life for patients, today reported financial results for the first quarter ended March 31, 2022.\n\nHighlights:\n\n\nYear-over-year net sales growth of 15% to $6.2 million, marking the second consecutive quarter of double-digit growth\n\n\n\nReceived 4th FDA clearance in 5 months, a 510(k) clearance for use of the FreedomEdge® infusion pump to deliver EMPAVELI® and Aspaveli®, a prescription medicine used to treat adults with a rare disease called paroxysmal nocturnal hemoglobinuria (PNH)\n\n\n\nExpanded novel therapies pipeline in new drug categories, including a Phase II clinical trial, and expanded an innovation development agreement with a large SCIg customer\n\n\n\nSigned distribution agreement in Germany, with an increased focus on international markets\n\n\n\nAnnounced Brian Case, 20+ year experienced R&D veteran, as Chief Technology Officer\n\n\n\"I am extremely proud of our team in delivering strong first quarter results as we continue to execute our strategic growth plan to become a broader drug delivery provider. A rebounding U.S. immunoglobulin market is encouraging, and we are successfully driving a dual focus on increasing revenues in our core subcutaneous Ig business through expanded label indications and a growing prefill market, while expanding the Freedom platform into new drug areas,\" said Linda Tharby, KORU Medical's President and CEO. \"We also continue to build the team's capability with the hiring of Brian Case as our Chief Technology Officer, a proven experienced leader. I am very excited for the future of the company as we drive long-term growth, create value for customers and shareholders, and increasingly progress our strategic plan.\"\n\n2022 First Quarter Financial Results\n\n\n\n \n\n\n\n\nThree Months\nEnded March 31,\n\n\n\n \n\n\n\nChange from Prior Year\n\n\n\n\n\n \n\n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n%\n\n\n\n\n\nNet Sales\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nDomestic Core...