Boston, MA 02/11/2014 (wallstreetpr) – Hansen Medical, Inc. (NASDAQ:HNSN) was having impressive, if not incredible, rally in early trading Tuesday. The stock was up almost above 20 percent to $2.70 by noon. All this was happening when CEO Bruce Barclay had just left the company in unexplained circumstances.
Christopher Lowe, a board member of HNSN has been named to hold the CEO position in interim capacity following the exit of Barclay who reportedly had his last day as CEO of the company on February 9. The currently soaring of the stock can be a bit perplexing if not revealing just how investors have become more confident in the company when the CEO Barclay has just left.
Since June 2010, Barclay has been the CEO of Hansen Medical, Inc. (NASDAQ:HNSN). Just before that he was leading SurModics Inc. as CEO and he also headed Vascular Architects Inc.
The Interim CEO
Mr. Lowe who is stepping forward to steer Hansen Medical, Inc. (NASDAQ:HNSN) as interim CEO has been in the company’s board since September 2006. He is now new to matters management. He recently served as Chief Financial Officer and Chief Business Officer while working with Anthrera Pharmaceuticals Inc. And he also served as CFO of Asthmatrix Inc just before the company was acquired by Boston Scientific. As if that is not enough, Lowe also worked with Peninsula Pharmaceuticals Inc. just before the business was purchased by Johnson & Johnson.
That being said, a man which significant amount of experience managing businesses tracked by millions of investors will be running HNSN before a permanent CEO is recruited.
Board changes
Now that Lowe is stepping in to replace Barclay at Hansen Medical, Inc. (NASDAQ:HNSN), he will retain his stay in the company’s board of director. However, he won’t continue with his roles at the board’s compensation committee or, serve as chair of the board’s audit committee.
Hansen in business
Hansen Medical, Inc. (NASDAQ:HNSN) is in the business of making medical robots for use in vascular surgery. The company has not been profitable; instead its accumulated deficit now stands at $340.8 million as of the end of September. In the September quarter the company made sales of $5 million and suffered $13.2 million loss. September is the latest period that the company has issued its complete financial details.
Conclusion
Hansen Medical, Inc. (NASDAQ:HNSN), under Lowe, is in safe hands, at least this can be seen in the surging investor confidence in the stock in post Barclay.
