Overview

Micrus Endovascular (MEND) develops, manufactures and markets implantable and disposable medical devices for use in the treatment of cerebral vascular diseases. Micrus products are used by interventional neuroradiologists, interventional neurologists and endovascularly trained neurosurgeons to treat both cerebral aneurysms responsible for hemorrhagic stroke and intracranial atherosclerosis, which may lead to ischemic stroke. 

Hemorrhagic and ischemic stroke are both significant causes of death and disability worldwide. The Micrus product lines enable physicians to gain access to the brain in a minimally invasive manner through the vessels of the arterial system. Micrus’ proprietary, three-dimensional microcoils anatomically deploy within the aneurysm, forming a scaffold that conforms to a wide diversity of aneurysm shapes and sizes. 

Micrus also sells stents, balloon catheters, access devices such as guide catheters, microcatheters, guidewires and accessory products used in conjunction with its microcoils.

The company has operations in the Americas, Europe, and the Asia Pacific.

MEND Investor Highlights

• Net income for the second quarter of fiscal 2010 was $3.6 million, or $0.22 per diluted share.

• Total revenues increased increased to 9% (or 12% in constant currencies) to $42.7 million in the first six months.

• Neurovascular revenues from the U.S. increased 15% to a record $11.2 million in the second quarter, and increased 16% to $21.3 million in the first six months.

• Revenues from Europe increased 5% (or 8% in constant currencies) to $6.4 million in the second quarter, and increased 9% (or 18% in constant currencies) to $12.7 million in the first six months.

• Announced along with Flexible Stenting Solutions Inc.., the signing of an exclusive agreement to jointly develop a flow diversion technology for neurovascular indications using both Micrus and Flexible Stenting Solutions technology, development capabilities and intellectual property. Unlike microcoils that are placed in the aneurysm, flow diverters are stent-like devices placed in the parent vessel. They serve to divert blood flow away from the aneurysm, thus facilitating healing.

SEC Filings

MEND filings with the SEC can be found here. 

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