KORU Medical Systems, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:07 pm EST
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KORU Medical Systems, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 7 million compared to USD 7.76 million a year ago. Net loss was USD 1.37 million compared to USD 1.23 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to USD 0.03 a year ago.
For the nine months, sales was USD 21.33 million compared to USD 20.55 million a year ago. Net loss was USD 6.28 million compared to USD 6.68 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to USD 0.15 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to USD 0.15 a year ago.
KORU Medical Systems, Inc. designs, manufactures, and markets proprietary portable and advanced medical devices primarily for the subcutaneous drug delivery market. It is focused on home and specialty infusion solutions. The Companyâs focus is primarily concentrated on its mechanical infusion products, the FREEDOM Infusion Systems, which include the FREEDOM60 Syringe Driver, the FreedomEdge Syringe Driver, HIgH-Flo Subcutaneous Safety Needle Sets, and Precision Flow Rate Tubing. The devices are used for infusions administered at home and in alternate care settings. Its infusion devices work together as a system to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases (PIDD) and chronic inflammatory demyelinating polyneuropathy (CIDP). The FREEDOM System operates at a lower pressure than an electrical, volumetric pump and maintains a balance between what a patientâs subcutaneous tissues can tolerate and what the system delivers.
KORU MEDICAL SYSTEMS, INC. 
