Muddy Waters Short-Sells Inogen, Citing Inflated Market Projections
The short seller that took on St. Jude Medical two years ago on cardiac-device cybersecurity now is targeting Inogen, maker of portable oxygen concentrators. Muddy Waters says the research firm that projected Inogen’s market penetration is way off and the company’s leadership is far too optimistic.
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Inogen acknowledged data from its previous research firm were inaccurate on its latest investor call. A short seller recently called out Inogen for what it claimed was an overstatement of its market potential and economic projections, and has asked the company to clarify its estimates.
After Abbott recently settled a case against short-seller Muddy Waters, the company has put out a second cybersecurity patch for certain St. Jude radio-frequency enabled cardiac devices to stop potential hackers from harming patients.
In a final guidance from the US agency, regulators say most combination product questions are best resolved through traditional pathways and noted that initiating a so-called combination product agreement meeting may be unproductive.