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SAN FRANCISCO, CA--(Marketwired - August 08, 2017) - Brian Marckx, analyst with Zacks Small-Cap Research, reports that a $20 million loan received by a U.S.-based medical device company could further fuel growth.
Included in this article is: Viveve Medical Inc. (NASDAQ: VIVE)
In a July 11 report, analyst Brian Marckx noted that Viveve Medical Inc., a company that produces console systems for vaginal laxity, entered into a new term loan of $20 million, which could increase to $30 million if certain conditions are met. "Approximately $10.8M of the $20M (initially) borrowed was used to repay a legacy loan -- we expect at least a portion of the balance will be slated towards growth-related initiatives such as further build-out of the U.S. sales force," Marckx stated.
Marckx sees the loan as further fuel for growth initiatives: "Pro forma for net proceeds of this new term loan that the company entered into in late May (i.e., subsequent to Q1 quarter end), cash balance would be almost $41M or equal to about 20 months' worth of operating capital at the current EBITDA burn rate. This should provide more than enough runway to initiate (and potentially complete) the U.S.-based VIVEVE II clinical study (for support of a sexual function indication)."
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Loan Provides Driver for Growth for Medical Device Firm
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Please see the end of the article for the complete disclosures: Loan Provides Driver for Growth for Medical Device FirmContact Information: Carrie Beal AmaroAssociate Publisher NEXT ARTICLE
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