Monitor the company's cash burn and upcoming capital raises. The low cash balance and history of dilutive financing suggest a high likelihood of share issuance in the near term, which could pressure the stock price. The $42.1 million in remaining ATM capacity allows for immediate, continuous sales, making this a key risk factor for existing shareholders.
Price Chart
Executive Summary
Stereotaxis filed an S-3 shelf registration to potentially raise up to $150 million, combining a new $70.4 million universal shelf with $79.6 million in unsold capacity from a prior shelf. The filing includes a $50 million at-the-market (ATM) offering for common stock, with $42.1 million remaining from a prior ATM program. The company plans to use proceeds for general corporate purposes, including R&D and commercialization. This signals a need for capital amid ongoing losses and a low cash balance.
Key Financial Metrics
Key Facts
- Filed a new S-3 shelf registration with $150 million total capacity: $70.4 million newly registered and $79.6 million carried forward from a prior shelf.
- The shelf includes a $50 million ATM program for common stock, with $42.1 million of that amount remaining from a prior, unexpired program.
- Company reported a net loss of $16.1 million over the first nine months of 2025 and had only $10.5 million in cash as of September 30, 2025.
- Proceeds from any offering will be used for general corporate purposes, including working capital, R&D, and commercialization, with management retaining broad discretion.
- The company has a history of dilutive capital raises, including a $12.5 million equity financing in July 2025 and an ongoing ATM program.
Financial Impact
Up to $150 million in potential dilution from new share issuance, with a $50 million ATM program posing an immediate risk of dilution at market prices.
Risk Factors
- Significant and immediate dilution from the ATM program, which could be executed at prices below current market value.
- The company's weak financial position (ongoing losses and low cash) increases the urgency and likelihood of a capital raise, potentially on unfavorable terms.
- Management's broad discretion over the use of proceeds means funds may not be used in a way that creates shareholder value.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 9 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-3 Filing (Primary) | 0001493152-26-010062 |
| Exhibit: ex107.htm | 0001493152-26-010062 |
| Exhibit: ex5-1.htm | 0001493152-26-010062 |
| Exhibit: ex1-3.htm | 0001493152-26-010062 |
| Exhibit: ex23-1.htm | 0001493152-26-010062 |
| Document: 0001493152-26-010062-index-headers.html | 0001493152-26-010062 |
| Document: 0001493152-26-010062-index.html | 0001493152-26-010062 |
| Document: 0001493152-26-010062.txt | 0001493152-26-010062 |
| CONTEXT: 10-Q (2025-11-12) | 0001493152-25-021881 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 7w ago | Press Release | $1.39 $1.18 | ▼ −15.11% | ▼ −13.92% | $1.04 (−25.18%) |
Aug 14, 2026 10w ago | EFFECT | $1.38 $1.33 | ▲ +3.62% | ▲ +1.63% | $1.04 (+24.64%) |
Aug 14, 2026 10w ago | EFFECT | $1.38 $1.33 | ▲ +3.62% | ▲ +1.63% | $1.04 (+24.64%) |
Aug 11, 2026 11w ago | Press Release | $1.40 $1.30 | ▼ −7.14% | ▼ −5.25% | $1.04 (−25.71%) |
Jul 15, 2026 14w ago | S-3 | $1.65 $1.38 | ▲ +16.36% | ▲ +19.98% | $1.04 (+36.97%) |
Jul 15, 2026 14w ago | S-3 | $1.65 $1.38 | ▼ −16.36% | ▼ −19.98% | $1.04 (−36.97%) |
Jul 9, 2026 15w ago | 8-K | $1.74 $1.36 | ▼ −21.84% | ▼ −24.08% | $1.04 (−40.23%) |
May 12, 2026 23w ago | 8-K | $1.85 $1.82 | ▲ +1.62% | ▲ +1.01% | $1.04 (+43.78%) |
May 12, 2026 24w ago | Press Release | $1.85 $1.82 | ▼ −1.62% | ▼ −1.01% | $1.04 (−43.78%) |
Apr 21, 2026 27w ago | Press Release | $1.92 $1.78 | ▼ −7.29% | ▼ −12.21% | $1.04 (−45.83%) |
US Market Status
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