Medical device company Ra Medical Systems, Inc. (RMED) in Carlsbad, Calif., is designs, develops, and markets excimer lasers to treat vascular diseases. The company has made significant progress in key initiatives, including its DABRA technology laser system and atherectomy pivotal clinical study. However, the penny stock has declined 86.8% in price over the past six months and 92.7% over the past year, reflecting investor concerns over its disappointing revenue and earnings growth and the sale of its dermatology business.
Closing yesterday’s session at $0.42, the stock is currently trading 95.7% below its 52-week high of $9.82, indicating bearish sentiment.
