SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): January 5, 2017
INVUITY, INC.
(Exact name of registrant as specified in its charter)
Delaware |
001-37417 |
04-3803169 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification Number) |
444 De Haro Street
San Francisco, CA 94107
(Address of principal executive offices)
(650) 655-2100
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02Results of Operations and Financial Condition.
On January 5, 2017, Invuity, Inc. issued a press release announcing selected preliminary unaudited financial results for the fiscal year ended December 31, 2016 and re-affirming preliminary guidance for selected financial measures for the 2017 fiscal year. A copy of this press release is furnished as Exhibit 99.1 hereto.
The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
Exhibit No. |
Description |
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99.1 |
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Press release issued by Invuity, Inc. dated January 5, 2017. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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INVUITY, INC. |
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Date: January 5, 2017 |
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By: |
/s/ Philip Sawyer |
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Philip Sawyer |
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President and Chief Executive Officer |
Exhibit 99.1
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NEWS RELEASE |
INVUITY APPOINTS ANDY SALE AS SVP OF GLOBAL SALES
Announces preliminary 2016 fourth quarter and full-year revenue
Reiterates 2017 revenue guidance
SAN FRANCISCO, January 5, 2017 - Invuity, Inc. (NASDAQ:IVTY), a leading surgical photonics company, today announced the appointment of Andy Sale as Senior Vice President of Global Sales. Mr. Sale brings over 17 years of experience in the medical device industry.
“Our organization will be strengthened by the addition of Andy Sale. Andy is a proven sales leader with deep experience in building high-performance sales teams and driving significant revenue growth,” said President and CEO Philip Sawyer. “Andy’s experience will be particularly impactful as we continue to scale our business across multiple product lines.”
Mr. Sale has over 17 years of medical device sales experience including 11 years at Intuitive Surgical, where he served in a variety of roles including Sales Manager, Sales Director, Area Vice President, Regional Vice President and in his last role was responsible for all the U.S. capital business. Prior to Intuitive Surgical, Mr. Sale spent six years at Johnson & Johnson where he provided sales and sales leadership in key specialty companies inside of Ethicon to drive the growth of emerging products.
Preliminary 2016 Revenue
The Company announced that based on preliminary unaudited financial results, it expects total revenue for the fourth quarter ended December 31, 2016 to be in the range of $9.1 million to $9.3 million and full-year 2016 revenue to be in the range of $32.2 million to $32.4 million.
Business Outlook
The Company reiterated revenue guidance for 2017 in the range of $42 million to $44 million.
About Invuity®
Invuity, Inc. is a medical technology company focused on developing and marketing advanced photonics devices to improve the ability of surgeons to illuminate and visualize the surgical cavity during open minimally invasive and minimal access surgery. The
company's patented Intelligent Photonics™ technology enables enhanced surgical precision, efficiency and safety by providing superior visualization. Clinical applications include breast and thyroid oncology, plastic reconstructive, spine, orthopedic, cardiothoracic and general surgery among others. Invuity is headquartered in San Francisco, CA. For more information, visitwww.invuity.com.
Forward-Looking Statements
This announcement contains forward-looking statements that involve risks and uncertainties, including statements regarding expected financial results for the fourth quarter and full year 2016, financial projections for 2017, future product introductions, future sales and marketing initiatives and market opportunities. The Company’s estimated fourth quarter and annual financial results for 2016 are preliminary and subject to adjustment in the ongoing review and audit procedures by the Company’s external auditors. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: fluctuations in demand or failure to gain market acceptance for the Company's devices; the Company's ability to demonstrate to and gain approval from hospitals to use the Company's devices; the highly competitive business environment for surgical medical devices; the Company's ability to sell its devices at prices that support its current business strategies; difficulty forecasting future financial performance; protection of the Company's intellectual property; and compliance with necessary regulatory clearances or approvals. The Company undertakes no obligation to update the forward-looking information in this release. More information about potential factors that could affect the Company's business and financial results is included in its filings with the Securities and Exchange Commission, including, without limitation, under the captions: "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which are on file with the Securities and Exchange Commission.
CONTACT:
Company Contact:
Jim Mackaness
Chief Financial Officer
Invuity, Inc.
415-655-2129
Investors:
Mark Klausner
Westwicke Partners
443-213-0501
irdept@invuity.com
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