ALAMEDA, Calif., Dec. 8, 2020 /PRNewswire/ -- Penumbra, Inc.
(NYSE: PEN), a global healthcare company focused on innovative
therapies, today responded to recent attacks by short
sellers containing inaccurate and misleading information
regarding scientific research published by Penumbra's co-founder
and Chief Innovator, Arani Bose,
MD.
Dr. Arani Bose has co-authored
numerous peer-reviewed articles and scientific presentations in his
more than 30-year career in the medical field. As is commonplace in
the medical community, many of his papers are published under the
name A. Bose, as referenced on pubmed.gov and the original
scientific publications.
Penumbra confirms the papers rumored to be attributed to Antik
Bose are in fact attributed to Dr. Arani
Bose. To imply that Dr. Arani
Bose's peer-reviewed research, co-authored with a large
cohort of his peers, was ever or would ever be attributed
to anyone other than Dr. Arani
Bose is inaccurate and conspiratorial.
Today, Penumbra's chief executive officer, Adam Elsesser, spoke with Bank of America
analyst Bob Hopkins about the state
of Penumbra's business on a pre-announced, public call. A replay of
this call is available on Penumbra's website for all interested
parties. The company stands by the record of the Penumbra JET 7
Reperfusion Catheter with Xtra Flex technology (JET 7 Xtra Flex).
Penumbra continues to follow all applicable Quality System
Regulations and international standards that govern the design and
quality of its products. Penumbra has helped thousands of sick
patients and is unaware of a single patient death associated with
the use of JET 7 Xtra Flex when it is used in line with the
instructions for use and the notice Penumbra has provided to
physicians.
These claims are baseless. Penumbra is reviewing its
options of how to further respond.
About Penumbra
Penumbra, Inc., headquartered in
Alameda, California, is a global
healthcare company focused on innovative therapies. Penumbra
designs, develops, manufactures and markets novel products and has
a broad portfolio that addresses challenging medical conditions in
markets with significant unmet need. Penumbra sells its products to
hospitals and healthcare providers primarily through its direct
sales organization in the U.S., most of Europe, Canada and Australia, and through distributors in select
international markets. Penumbra, the Penumbra P logo, Penumbra JET,
Benchmark and BMX96 are trademarks of Penumbra, Inc. For more
information, visit www.penumbrainc.com
Forward-Looking Statements
Except for historical
information, certain statements in this press release are
forward-looking in nature and are subject to risks, uncertainties
and assumptions about us. Our business and operations are subject
to a variety of risks and uncertainties and, consequently, actual
results may differ materially from those projected by any
forward-looking statements. Factors that could cause actual results
to differ from those projected include, but are not limited to: the
impact of the COVID-19 pandemic on our business, results of
operation and financial condition; failure to sustain or grow
profitability or generate positive cash flows; failure to
effectively introduce and market new products; delays in product
introductions; significant competition; inability to further
penetrate our current customer base, expand our user base and
increase the frequency of use of our products by our customers;
inability to achieve or maintain satisfactory pricing and margins;
manufacturing difficulties; permanent write-downs or write-offs of
our inventory; product defects or failures; unfavorable outcomes in
clinical trials; inability to maintain our culture as we grow;
fluctuations in foreign currency exchange rates; and potential
adverse regulatory actions. These risks and uncertainties, as well
as others, are discussed in greater detail in our filings with the
Securities and Exchange Commission (SEC), including our Annual
Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on
February 26, 2020, our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2020 filed with the SEC on May 7, 2020, our Quarterly Report on Form 10-Q
for the quarter ended June 30, 2020
filed with the SEC on August 3, 2020
and our Quarterly Report on Form 10-Q for the quarter September 30, 2020 filed with the SEC on
November 2, 2020. There may be
additional risks of which we are not presently aware or that we
currently believe are immaterial which could have an adverse impact
on our business. Any forward-looking statements are based on
our current expectations, estimates and assumptions regarding
future events and are applicable only as of the dates of such
statements. We make no commitment to revise or update any
forward-looking statements in order to reflect events or
circumstances that may change.
Contact
Penumbra, Inc.
Investor Relations
investors@penumbrainc.com
510-995-2461
Penumbra, Inc.
Media Relations
Betsy Merryman
Merryman Communications
betsy@merrymancommunications.com
310-560-8176
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SOURCE Penumbra, Inc.