By Ben Glickman


Shares of ClearPoint Neuro rose after preliminary fourth-quarter revenue topped estimates.

The stock was up 16% to $7.35 in morning trading Tuesday. Shares are down 17% in the last year.

The Solana Beach, Calif.-based company, which develops clinical products to allow navigation to the brain and spine, said late Monday that it expects revenue to rise 32% to $6.8 million in the period ended Dec. 31, surpassing the $6.5 million expected by analysts polled by FactSet.

ClearPoint is forecasting fiscal 2024 revenue of $28 million to $32 million. Analysts polled by FactSet are expecting $30.4 million in revenue this year.

The company said it is planning to achieve clearance from the U.S. Food and Drug Administration for its SmartFrame OR for navigation, then subsequently launch and commercialize the offering.


Write to Ben Glickman at ben.glickman@wsj.com


(END) Dow Jones Newswires

01-09-24 1059ET