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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apyx Medical Corp    APYX

APYX MEDICAL CORP

(APYX)
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Kaskela Law LLC : Announces Stockholder Investigation of Apyx Medical Corp. (APYX) and Encourages Long-Term APYX Stockholders to Contact the Firm

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05/23/2020 | 08:01am EDT

Kaskela Law LLC is investigating Apyx Medical Corporation (NASDAQ: APYX) (“Apyx” or the “Company”) on behalf of the Company’s stockholders.

In September 2019, a securities fraud complaint was filed against Apyx in federal court on behalf of certain purchasers of Apyx’s common stock. Among other things, the complaint alleged that Apyx violated the federal securities laws by making a series of materially false and misleading statements to investors between December 2018 and April 2019 concerning Apyx’s business, operations, and prospects.

As detailed in the complaint, on December 21, 2018, Apyx announced that it had submitted a 510(k) application for regulatory clearance with the FDA for the use of J-Plasma (a patented helium-based plasma surgical product) for dermal resurfacing based on the results of a clinical study. Also on that day, Apyx’s CEO stated: “We were very pleased with the clinical results of this study and we are optimistic in receiving regulatory clearance for this differentiated technology in 2019.”

However, on April 1, 2019, Apyx announced that it had withdrawn its application for regulatory clearance and disclosed that the study had failed to meet its primary efficacy endpoint. Additionally, the Company revealed that one of three investigational centers used in the study had deviated from protocol by prescribing a steroid to its patients. Following this news, shares of the Company’s stock declined $2.49 per share, or nearly 36% in value, to close at $4.46 per share on April 2, 2019.

The investigation seeks to determine whether the members of Apyx’s board of directors breached their fiduciary duties in connection with the above.

Current Apyx stockholders who purchased or acquired shares of the Company’s stock prior to December 21, 2018 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or via email at skaskela@kaskelalaw.com or online at http://kaskelalaw.com/case/apyx-medical-corp/, to discuss this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.


© Business Wire 2020
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Financials (USD)
Sales 2020 17,1 M - -
Net income 2020 -23,2 M - -
Net Debt 2020 - - -
P/E ratio 2020 -6,87x
Yield 2020 -
Capitalization 150 M 150 M -
EV / Sales 2019
Capi. / Sales 2020 8,73x
Nbr of Employees 266
Free-Float 87,6%
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 7,25 $
Last Close Price 4,55 $
Spread / Highest target 97,8%
Spread / Average Target 59,3%
Spread / Lowest Target 9,89%
EPS Revisions
Managers
NameTitle
Charles D. Goodwin President, Chief Executive Officer & Director
Andrew Makrides Executive Chairman
Tara H. Semb Chief Financial Officer, Secretary & Treasurer
Shawn D. Roman Director-Research & Development
Kari Larson Senior Director-Clinical Affairs
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