Koru Medical cuts FY23 revenue view to $31M-$32.5M from $32.5M-$33.5M

Consensus is $31.51M. KORU Medical updates prior guidance for 2023. The company’s guidance for full year 2023 has been updated to reflect a contraction in the underlying U.S. subcutaneous immunoglobulin market. KORU Medical is updating its 2023 growth outlook on the underlying U.S. subcutaneous immunoglobulin market to 5% from 10%. In addition, the company’s guidance reflects a change in the timing of 2023 Novel Therapy deal signings. In addition, the company is: Reaffirming 2023 gross margin between 58%-60% and a planned 2023 exit between 60%-62% Reaffirming cash balance at year-end 2023 greater than $10.0 million.