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Penumbra, Inc. (NYSE: PEN) is a global healthcare company headquartered in Alameda, California, specializing in innovative interventional therapies. The company is renowned for developing and marketing medical devices aimed at treating complex medical conditions with significant unmet clinical needs. Penumbra's product portfolio includes neurovascular and peripheral vascular devices, which are primarily used by specialist physicians in hospitals.
Penumbra's neurovascular product line, which generates the majority of the company's revenue, includes technologies for neurovascular access, ischemic stroke treatment, neurovascular embolization, and neurosurgical tools. The peripheral vascular segment offers solutions for peripheral embolization and peripheral thrombectomy. These devices are designed to improve clinical outcomes, reduce procedural times and enhance patient safety, contributing to overall healthcare cost savings.
The company's innovations are supported by a strong commitment to clinical research. Notable achievements include the recent STRIKE-PE study results, which demonstrated the safety and efficacy of Penumbra's Indigo® Aspiration System with Lightning™ technology for treating pulmonary embolism (PE). This computer-assisted vacuum thrombectomy (CAVT) system significantly improved clinical and functional outcomes, such as reduced right heart strain and enhanced patient mobility.
Penumbra's financial performance reflects its robust market presence. For the third quarter of 2023, the company reported revenues of $270.9 million, a 26.8% increase compared to the previous year. The U.S. market accounted for 72% of this revenue, driven by strong sales of thrombectomy products. Gross profits rose to $177.7 million, highlighting the company's ability to leverage its product mix and production efficiencies.
Looking ahead, Penumbra remains focused on expanding its product portfolio and geographic presence. Recent milestones include the launch of Lightning Flash™ 2.0, an advanced CAVT system designed for faster thrombus removal with minimal blood loss. The company also started enrolling patients in the STORM-PE trial, a groundbreaking study comparing CAVT to standard anticoagulation therapy for PE treatment.
Penumbra's strategic vision includes continuous innovation, strengthening partnerships, and expanding its footprint in existing and new markets. The company supports healthcare providers in over 100 countries, ensuring a broad impact on global health outcomes through its cutting-edge medical technologies.
Penumbra, Inc. (NYSE: PEN) has scheduled a conference call to discuss its second quarter 2021 financial results on August 9, 2021, at 4:30 PM ET. A press release with detailed financial results will be issued after the market closes on the same day. Interested parties can access the call by dialing (833) 350-1434 or through a webcast available on the company's website. Penumbra is focused on developing innovative therapies to address significant medical needs globally.
Penumbra, Inc. (NYSE: PEN) announces FDA 510(k) clearance and commercial availability of the RED™ 62 Reperfusion Catheter, enhancing treatment capabilities for acute ischemic stroke patients. Designed for complex distal vessel anatomy, RED 62 provides powerful aspiration to effectively remove blood clots. Medical professionals praised its responsiveness and effectiveness. This launch expands the Penumbra System® portfolio and aims to reduce healthcare costs while improving patient outcomes.
Penumbra, Inc. (NYSE: PEN) will present at the William Blair 41st Annual Growth Stock Virtual Conference on June 1, 2021, at 4:20 PM ET. The presentation can be accessed via the investor section of their website, with a recorded webcast available for two weeks post-event.
Based in Alameda, California, Penumbra specializes in innovative healthcare therapies and markets its products across the U.S., Europe, Canada, and Australia, targeting unmet medical needs.
Penumbra, Inc. (NYSE: PEN) reported a 23.2% increase in revenue for Q1 2021, totaling $169.2 million compared to $137.3 million in Q1 2020. Revenue from vascular products surged 50.5%, reaching $89.2 million, while neuro products saw a modest 2.5% growth to $80 million. Gross profit improved to 65.8% of total revenue. Operating expenses rose to $97.9 million, but the operating income increased significantly to $13.5 million. The company boosted its full-year revenue guidance to $695 million to $705 million, indicating a growth of 24% to 26%.
Penumbra, Inc. (NYSE: PEN) announced its management will present at the BofA Securities 2021 Virtual Health Care Conference on May 11, 2021, at 11:45 am ET. A webcast of this presentation will be available on the company’s website for at least two weeks post-event. As a global healthcare company, Penumbra focuses on innovating therapies and has a broad portfolio addressing significant medical conditions. Interested parties can access the webcast via www.penumbrainc.com.
Penumbra, Inc. (NYSE: PEN) has announced a conference call to discuss its financial results for Q1 2021, scheduled for May 4, 2021, at 4:30 PM ET. The results will be released after market close on the same day. Investors can join the call by dialing (833) 350-1434 or accessing the webcast on the company’s website. Further information about Penumbra, a global healthcare company focused on innovative therapies, can be found on its website.
Penumbra, Inc. (NYSE: PEN) has launched the Indigo® System Lightning™ 7, enhancing its Indigo Aspiration System for arterial thrombus removal. This new device combines the CAT™7 Aspiration Catheter with Lightning Intelligent Aspiration technology, enabling effective single-session clot extraction. Key features include optimized thrombus detection and reduced blood loss. CEO Adam Elsesser emphasized the technology's potential to improve patient outcomes and reduce ICU demands. The Indigo System is indicated for treating fresh emboli and thrombi in peripheral vessels and pulmonary embolism.
Penumbra, Inc. (NYSE: PEN) reported its fourth quarter and full-year financial results for 2020, revealing a 14.9% increase in quarterly revenue to $166.9 million and a full-year revenue of $560.4 million, up 2.4% year-over-year. Excluding a voluntary recall, quarterly revenue was $172.7 million, an 18.9% rise. However, a 6.6% decline in neuro product sales was noted. Operating loss for the fourth quarter stood at $1.7 million, but excluding one-time impacts, non-GAAP operating income was $16.6 million. For 2021, Penumbra projects revenue growth of 20% to 22%.
Penumbra, Inc. (NYSE: PEN) announced its management team will present at Citi's 2021 Healthcare Services, Medtech, Tools, & HCIT Virtual Conference on February 24, 2021, at 3:20 PM ET. The event aims to showcase innovative therapies and products developed by Penumbra.
A webcast of the presentation will be accessible on their website for at least two weeks post-event. Penumbra, headquartered in Alameda, California, specializes in innovative medical solutions, catering to significant unmet healthcare needs.
Penumbra, Inc. (NYSE: PEN) announced a conference call to discuss its fourth quarter and full year 2020 financial results scheduled for February 23, 2021 at 4:30 PM ET. A press release will be issued after market close that day detailing the financial metrics. The call can be accessed via phone or live webcast on the company's website. Penumbra focuses on innovative therapies, selling products to hospitals and healthcare providers in various regions, including the U.S. and Europe.
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