News | EP Lab | August 12, 2016

Stereotaxis Delisted from NASDAQ

Company reports its stock now trading on OTCQX; boasts new system installation

August 12, 2016 — Electrophysiology ablation navigation system company Stereotaxis Inc. announced its shares of common stock started trading on the OTCQX Best Market, effective Aug. 4, after Stereotaxis received a letter from The NASDAQ Stock Market LLC notifying the company Aug. 2 that it would be delisted. The NASDAQ letter stated Stereotaxis continued to be non-compliant with the market value of listed securities requirement, which required that Stereotaxis evidence a minimum market capitalization of $35 million. The company’s securities were delisted from NASDAQ effective with the open of business on Aug. 4, 2016.

OTCQX offers an U.S. over-the-counter securities trading option. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and be sponsored by a professional third-party advisor. The company expects that its shares will continue to trade on the OTCQX under the company’s current symbol STXS.

Stereotaxis Completes Niobe System Installation at Kakogawa Hospital

Stereotaxis announced the launch of its Niobe remote magnetic navigation system at Kakogawa Central City Hospital, which becomes the second of four systems shipped to Japan to have been installed. Opened July 1, Kakogawa Central City Hospital combines the former Kakogawa East City Hospital and Kakogawa West City Hospital into one 600-bed, state-of-the-art facility located approximately 280 miles southwest of Tokyo. On June 11 and 12, the hospital highlighted its new Niobe system and offered tours of the electrophysiology (EP) lab as part of an opening ceremony for the local healthcare community, media and residents.

“The introduction of the Stereotaxis magnetic navigation platform has brought great excitement to interventional medicine in Japan, and we are very pleased to be the first in the prefecture to offer this highly advanced treatment for cardiac arrhythmias,” said Yoshio Onishi, CEO of Kakogawa Central City Hospital. “Our new building and cutting-edge therapies are part of our commitment to supporting the health and wellness of our citizens throughout their lifetime.”

“I am eager to employ the Niobe system with my complex EP cases, having observed first-hand its ease of use, exceptional mapping and ablation capabilities in all areas of the heart, and significantly reduced complication risk, all benefits supported by an overwhelming number of clinical studies from around the world,” said Katsunori Okajima, M.D., department manager, Cardiovascular Internal Medicine.

Okajima recently visited the U.S. to observe several procedures with the Niobe system and received comprehensive training on the system at Kakogawa prior to the July 20 clinical launch.

The core components of Stereotaxis’ systems have received regulatory clearance in the United States, European Union, Canada, China, Japan, and elsewhere. The V-Sono™ ICE catheter manipulator, V-Loop™ variable loop catheter manipulator, and V-CAS™ catheter advancement system have received clearance in the United States, Canada, and the European Union. The V-CAS Deflect™ catheter advancement system is available for use in the European Union. 

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