Key Developments: Cyberonics Inc (CYBX.OQ)

CYBX.OQ on NASDAQ Stock Exchange Global Select Market

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22 May 2015
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Latest Key Developments (Source: Significant Developments)

Sorin Group signs merger agreement with Cyberonics
Tuesday, 24 Mar 2015 04:00am EDT 

Sorin SpA:AnnounceS that Sorin and Cyberonics Inc., in furtherance of the merger plan unanimously approved by their boards of directors, as disclosed in the joint statement of Feb. 26, have signed the relevant definitive merger agreement.The transaction remains subject to certain conditions including, without limitation: approval by both Sorin and Cyberonics` shareholders, the receipt of required antitrust and regulatory clearances, and other customary closing conditions.  Full Article

Cyberonics Inc reaffirms FY 2015 outlook
Thursday, 26 Feb 2015 07:01am EST 

Cyberonics Inc:Says it is reaffirming FY 2015 guidance provided in earnings release dated Nov. 20, 2014.FY 2015 revenue of $295 mln, EBIT of $97 mln, net income of $63 mln, EPS of $2.37 - Thomson Reuters I/B/E/S.  Full Article

Cyberonics and Sorin to merge and create a new global medical technology company
Thursday, 26 Feb 2015 12:48am EST 

Sorin SpA:Cyberonics and Sorin to merge and create new medical technologies company with combined equity of about $2.7 billion.The proposed transaction has been unanimously approved by both boards.Sorin and Cyberonics will combine under a newly formed holding company, NewCo, which the parties will name prior to closing.Each Cyberonics stockholder will receive one ordinary share of NewCo for every share of Cyberonics owned and each Sorin shareholder will receive fixed ratio of 0.0472 ordinary shares of NewCo for every Sorin share owned.After transaction Sorin shareholders will own about 46 pct of NewCo, and Cyberonics shareholders will own about 54 percent, on a fully diluted basis.NewCo will be domiciled in the UK and will apply for dual-listing on NASDAQ and London Stock Exchange (LSE) and Sorin shares will cease trading on Borsa Italiana (MTA).NewCo will operate as three business units: Cardiac Surgery, Cardiac Rhythm Management and Neuromodulation, with operating headquarters in Mirandola (Italy), Clamart (France) and Houston (U.S.) respectively.The transaction is expected to be completed by the end of the third quarter of 2015.Mittel SpA and Equinox Two SCA, which control Bios SpA and Tower 6 Bis Sarl, holding in total 25.6 percent of Sorin’s shares, have entered into a support agreement with Cyberonics under which they will vote for transaction.Mittel SpA and Equinox Two Sca are expected to hold about 11.5 pct of NewCo’s shares after closing of proposed transaction.  Full Article

Cyberonics reports consistently positive results from E-36 And E-37 studies for VNS Therapy Delivered By AspireSR Generator
Monday, 8 Dec 2014 11:50am EST 

Cyberonics, Inc:Announced new results from two multi-site clinical studies of the AspireSR generator, E-36 (NCT01325623) and E-37 (NCT01846741), at the AES Annual Meeting in Seattle, Washington.AspireSR generator is currently investigational in the U.S. and not approved for commercial use.AspireSR generator attained the CE Mark and is now available in an increasing number of European countries.Investigators presented results from European E-36 study and U.S. E-37 study, which assessed acute impact of AspireSR generator on seizure duration and termination, as well as long-term evaluation of safety, clinical benefit of automatic stimulation feature, and quality of life.Patients in both studies experienced termination of seizures as well as reduced seizure duration during automatic stimulation compared to historical controls.  Full Article

Cyberonics Inc lowers FY 2015 revenue outlook; reaffirms FY 2015 earnings outlook
Thursday, 20 Nov 2014 07:00am EST 

Cyberonics Inc:Expects FY 2015 net sales to be in the range of $292 - $298 mln, as compared to previous guidance of $300 -$307 mln.Still expects FY 2015 income from operations to be in the range of $96 - $99 mln.Still expects FY 2015 adjusted net income to be in the range of $62 -$64 mln.Expects FY 2015 adjusted diluted earnings per share (EPS) to remain in the range of $2.33 to $2.39.FY 2015 revenue of $301 mln, EPS of $2.33 - Thomson Reuters I/B/E/S.  Full Article

Cyberonics Inc reaffirms FY 2015 outlook
Thursday, 21 Aug 2014 07:00am EDT 

Cyberonics Inc:Reaffirmed FY 2015 guidance.Expects FY 2015 net sales to be in the range of $300 - $307 mln.Expects FY 2015 adjusted net income to be in the range of $62 - $64 mln.Expects FY 2015 adjusted diluted earnings per share (EPS) will be in the range of $2.33 to $2.39.FY 2015 revenue of $304 mln, net income of $63 mln, EPS of $2.36 - Thomson Reuters I/B/E/S.  Full Article

Cyberonics gives FY 2015 guidance; revenue guidance below analysts' estimates
Wednesday, 4 Jun 2014 07:00am EDT 

Cyberonics Inc:Expects FY 2015 net sales to be in the range of $300 to $307 mln.Expects FY 2015 Income from operations to be in the range of $96 to $99 mln.Expects FY 2015 net income to be in the range of $62 to $64 mln.Expects FY 2015 diluted earnings per share (EPS) will be in the range of $2.33 to $2.39.FY 2015 revenue of $315 mln, net income of $64 mln and EPS of $2.38 - Thomson Reuters I/B/E/S.  Full Article

Cyberonics Inc announces CE Mark approval of AspireSR generator for VNS therapy
Thursday, 20 Feb 2014 07:15am EST 

Cyberonics Inc:Says the CE Mark (Conformité Européenne) approval in Europe for the AspireSR generator, the sixth-generation VNS Therapy generator.Says AspireSR generator provides the well-established benefits of VNS Therapy, coupled with a new feature - Automatic Stimulation in response to detection of a seizure.Says proprietary technology enables the AspireSR generator to analyze relative heart rate changes to detect and respond to seizures.Says this technology is based on a growing body of evidence that seizures are often accompanied by an increase in heart rate (ictal tachycardia).Says with the Automatic Stimulation feature, the AspireSR generator better aligns stimulation with the clinical onset of a seizure.  Full Article

Cyberonics Inc reaffirms FY 2014 revenue and income from operations guidance; increases FY 2014 net income and EPS guidance
Thursday, 20 Feb 2014 07:00am EST 

Cyberonics Inc:Maintains fiscal 2014 net sales guidance to be in the range of $281 million to $285 million.Maintains fiscal 2014 adjusted non-GAAP income from operations to be in the range of $86 million to $88 million.Increases fiscal 2014 adjusted non-GAAP net income to be in the range from $55 million to $57 million.Increases fiscal 2014 adjusted non-GAAP diluted earnings per share (EPS) to be in the range from $2.00 to $2.05.Guidance for income from operations, net income and diluted earnings per share (EPS) was adjusted by $7.4 million, $4.8 million (net of tax) and $0.17 cents per share, respectively, for the litigation settlement recorded in the first quarter of fiscal 2014.Fiscal 2014 revenue of $284 million, net income of $55 million and EPS of $2.02 - Thomson Reuters I/B/E/S.  Full Article

Cyberonics Inc reaffirms FY 2014 guidance - Conference Call
Wednesday, 15 Jan 2014 06:00pm EST 

Cyberonics Inc:Sees FY 2014 revenue guidance at $281 million to $285 million.Sees FY 2014 the operating income at $86 million to $88 million.Sees FY 2014 adjusted net income guidance of $54 million to $56 million.Sees FY 2014 adjusted earnings per share of $1.97 to $2.03.FY 2014 EPS of $2.02, revenue of $284 million, EBIT of $87 million and net income of $55 million - Thomson Reuters I/B/E/S Estimates.  Full Article

Cyberonics, Italy's Sorin merge to create medical technology leader

MILAN - Italian medical device maker Sorin and its smaller U.S. peer Cyberonics Inc announced a merger on Thursday to create a global leader in cardiac surgery and neuromodulation with an equity value of $2.7 billion.

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