In an exclusive interview with The Fly, Ra Medical Systems (RMED) President Jeffrey Kraws talked about the company, the ongoing audit committee investigation and CEO search, its upcoming RESULTS study, the vascular and dermatology businesses, and much more. Here are some highlights:
AUDIT COMMITTEE INVESTIGATION, CEO SEARCH: Recently, Ra Medical disclosed inconsistencies in its Dabra catheter manufacturing process, terminated its CEO and opened an audit committee investigation. President Jeffrey Kraws told The Fly that the company is "going through the required processes to complete the investigation," and will provide an update "once it's concluded." The executive also confirmed that the CEO search is still underway.
DELAY 10-Q FILING: Earlier this month, the company also announced that it received a notice from the NYSE related to its 10-Q filing, which Ra Medical is delaying. While there is no timeframe for when the company will file its 10-Q, Kraws highlighted that they will do so "once the investigation concludes," which he expects to be "as soon as possible." Of note, NYSE had informed the company that it will have six months from August 19, 2019 to file the form 10-Q with the SEC.
RESULTS STUDY: Related to its vascular business, Ra Medical is conducting a study to demonstrate that its Dabra Excimer Laser System delivers effective, long lasting results and a low reintervention rate for patients with peripheral arterial disease. "Our study will gather data over two years post-treatment and up to 2,500 patients," the executive explained, adding that he expects results from the study at the end of those two years.
DERMATOLOGY BUSINESS: Noting that the company is putting "the necessary resources behind each of our businesses," President Kraws highlighted that Ra Medical’s dermatology segment is "receiving a very positive response” from its recently launched Pharos Optimize System, which he hopes will continue to be well received in the marketplace.
'POSITIVE DIFFERENCE' IN PATIENTS' LIVES: Discussing the company and its goals, Ra Medical's President emphasized that the employees "are committed to doing everything possible" to provide doctors and patients with products that improve lives. "Overall, our goal is to make a positive difference in patients' lives," he added.
"Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. A more detailed version of this interview to follow.
For more on Ra Medical’s CEO search and ongoing investigation click here.
For more on Ra Medical’s 10-Q filing click here.
For more on Ra Medical’s RESULTS study click here.
For more on Ra Medical’s dermatology business click here.
For more on Ra Medical’s click here.