Page 1

November 15 , 2021 Ra Medical SYSTEMS Ra Medical Systems Reports 2021 Third Quarter Financial Results Conference call begins at 4:30 p.m. Eastern time today CARLSBAD , Calif .-- ( BUSINESS WIRE ) -- Ra Medical Systems , Inc. ( NYSE American : RMED ) , a medical device company focusing on developing its excimer laser system to treat vascular disease , reports financial results for the three and nine months ended September 30 , 2021 and provides a business update . Recent Operational Highlights • Completed the sale of the Pharos dermatology business for net cash proceeds of $ 3.5 million as part of the continued focus by the company of its resources on the large peripheral artery disease ( PAD ) market • Added two new sites and enrolled 15 additional subjects in the company's atherectomy pivotal clinical study since mid - August , for a total of 85 subjects enrolled to date in the 100 - subject study • Continued exploring the potential for the DABRA technology to create shock waves that can fracture arterial calcium , sometimes referred to as intravascular lithotripsy " We are reporting progress on all key initiatives , " said Will McGuire , Ra Medical Systems CEO . " First , the clinical team drove strong enrollment in our pivotal clinical study to obtain an atherectomy indication . Second , we advanced our engineering efforts to develop more robust , deliverable DABRA catheters and we continue to expect to submit an application to the FDA next quarter seeking regulatory clearance for the first next - gen catheter . Third , I continue to be excited about our research work showing the DABRA laser system can be utilized to create shockwaves of sufficient magnitude to fracture calcium in arteries , commonly referred to as intravascular lithotripsy , which we believe represents a potential to create significant shareholder value . " Finally , I want to commend the Ra Medical team for executing the divestiture of our dermatology business . As previously stated , we believe focusing our resources on the large and growing market for medical devices to treat PAD is the best path to creating shareholder value . An estimated 19 million to 21 million people in the U.S. have PAD and the market segments we are targeting are projected to exceed $ 900 million in revenue this year , " added Mr. McGuire . Third Quarter Financial Highlights Continuing Operations Net revenue for the third quarter of 2021 consisted of product sales of $ 5,000 . This