{"id":6716,"date":"2024-03-05T03:13:35","date_gmt":"2024-03-05T03:13:35","guid":{"rendered":"https:\/\/economicherald.net\/?p=6716"},"modified":"2024-03-05T03:13:35","modified_gmt":"2024-03-05T03:13:35","slug":"nova-eye-medical-hits-new-us-sales-record-following-improved-uptake-of-itrack-advance-products","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6716","title":{"rendered":"Nova Eye Medical hits new US sales record following improved uptake of iTrack Advance products"},"content":{"rendered":"<p>Nova Eye Medical reports record US sales of iTrack Advance glaucoma surgical devices for February<br \/>\nSales of US$0.99m represent an 11% increase over previous record sales month in October 2023<br \/>\nResult represents greatest uptake of its device since it was launched in May 2023<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> US sales of Nova Eye Medical\u2019s glaucoma surgical devices are gaining traction with a record US$0.99 million (A$1.52 million) worth of products sold in February, up 11% from the previous record sales month in October 2023.<\/strong><\/p>\n<p>February\u2019s record sales month also takes US sales revenue for the first two months of 2024 up to US$1.82 million, a 65% increase over the prior comparative period (PCP), while sales for the eight months to the end of February was US$6.88 million, up 64% on sales for the PCP.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/nova-eye-medical-eye\/\" target=\"_blank\" rel=\"noopener\"><strong>Nova Eye Medical (ASX:EYE)<\/strong><\/a> attributes this increase to greater uptake of its iTrack Advance products since they were launched in May 2023.<\/p>\n<p>iTrack Advance is a consumable surgical device that restores the eye\u2019s natural outflow pathway to lower pressure inside the eye and reduce patient reliance on anti-glaucoma medications for mild-moderate glaucoma.<\/p>\n<p>The company believes that surgeons who use its devices are more likely to treat glaucoma in its early stages, which is where minimally invasive glaucoma surgery (MIGS)<strong>\u00a0<\/strong>procedures are commonly deployed in clinical practice.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Purchasing patterns normalising<\/strong><\/h2>\n<p>EYE notes that sales in November and December 2023 were hindered by the announcements made by five Medicare Administrative Contractors (MACs) at the beginning of November 2023.<\/p>\n<p>These <a href=\"https:\/\/stockhead.com.au\/tech\/take-advantage-of-market-consolidation-eye-ready-for-proposed-us-medicare-changes\/\" target=\"_blank\" rel=\"noopener\"><strong>proposed changes<\/strong><\/a> in reimbursement for minimally invasive glaucoma surgical procedures and caused uncertainty amongst its customers.<\/p>\n<p>The MACs subsequently withdrew the proposed changes on 29 December 2023.<\/p>\n<p>EYE noted that sales since then have demonstrated evidence of normalisation of customer purchasing patterns following the uncertainty created by the MAC announcements.<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Nova Eye Medical, a Stockhead advertiser at the time of publishing. <\/em><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/nova-eye-medical-hits-new-us-sales-record-following-improved-uptake-of-itrack-advance-products\/\">Nova Eye Medical hits new US sales record following improved uptake of iTrack Advance products<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Nova Eye Medical reports record US sales of iTrack Advance glaucoma surgical devices for February Sales of US$0.99m represent an 11% increase over previous record <a href=\"https:\/\/economicherald.net\/?p=6716\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6717,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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