Short Seller QCM Questions Safety of Penumbra Stroke Device
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Short seller Quintessential Capital Management raised concerns over the safety of Penumbra Inc.’s Jet 7 catheter for stroke victims in a new report Tuesday. Shares of the company tumbled in early trading.
The report from New York-based QCM says Penumbra rushed to modify its Jet 7 Reperfusion Catheter device to compete with rivals and that the increased flexibility offered by the Jet 7 with Xtra Flex may have made it more prone to malfunction.