PROCEPT BioRobotics Corporation reports developments in surgical robotics for urology, centered on its AQUABEAM and HYDROS Robotic Systems and Aquablation therapy for lower urinary tract symptoms caused by benign prostatic hyperplasia. Company news commonly covers financial results, system sales and procedure trends, commercial execution, pricing and inventory commentary, and investment in its BPH platform technology.
Updates also include product clearances such as FirstAssist AI software, international launch activity for HYDROS, clinical evidence and guideline recognition for Aquablation therapy, investor presentations, and research activity including the WATER IV prostate cancer trial.
PROCEPT BioRobotics (Nasdaq: PRCT) has announced FDA 510(k) clearance for its HYDROS™ Robotic System, a next-generation platform for Aquablation® therapy. This AI-powered system is designed to improve efficiency, enhance surgeon experience, and deliver more accurate treatment plans for better clinical outcomes in urology.
Key features of HYDROS include:
- FirstAssist AI™ for treatment planning
- Advanced image guidance with integrated ultrasound and cystoscopy
- Robotic resection using a heat-free waterjet
- Streamlined workflow with a single-footprint integrated tower
The company expects HYDROS to be fully available in the current quarter across U.S. hospitals. PROCEPT BioRobotics has reaffirmed its 2024 financial guidance following this announcement.
Jupiter Endovascular, a medical technology startup, has exited stealth mode with $21 million in new financing to fund a pivotal trial for Pulmonary Embolism. The company is developing a new class of endovascular procedures using Endoportal Control™ technology, which aims to bring the precision of direct surgical access to catheter-based interventions. Carl J. St. Bernard has been appointed as CEO, bringing over 30 years of experience in the life sciences industry.
The funding round, led by Sonder Capital with participation from strategic investors, will support the upcoming pivotal trial and development of additional clinical applications. Jupiter's technology addresses limitations in catheter-based therapies by providing stability and control within complex cardiovascular anatomies, potentially revolutionizing treatment for millions of patients worldwide.
Neptune Medical, a medical device innovator, has announced a successful $97 million Series D financing and the spinout of its subsidiary, Jupiter Endovascular. The financing round saw significant participation from Sonder Capital and Olympus of the Americas, along with other existing and new investors. This strategic move allows Neptune Medical to focus on gastrointestinal robotics, while Jupiter Endovascular will concentrate on its novel endovascular technology platform.
The financing will strengthen Neptune Medical's position in the GI space, as evidenced by the recent appointment of Dr. Fred Moll, a medical robotics pioneer, as Chairman of the Board. Both companies aim to lead innovation in their respective specialties, with Neptune pushing boundaries in GI robotics and Jupiter revolutionizing endovascular therapies.
PROCEPT BioRobotics (Nasdaq: PRCT) reported strong Q2 2024 financial results, with total revenue of $53.4 million, up 61% year-over-year. U.S. handpiece and consumables revenue surged 101% to $27.3 million. The company sold 47 robotic systems in the U.S. and increased its install base to 400 systems. International revenue grew 79% to $5.7 million.
Gross margin improved to 59%, up from 56% in the prior year. Despite higher operating expenses of $58.3 million, the company reduced its Adjusted EBITDA loss to $18.0 million. PROCEPT BioRobotics raised its full-year 2024 guidance, projecting revenue of $217.0 million (59% growth) and an improved Adjusted EBITDA loss of $67.5 million.
PROCEPT BioRobotics (Nasdaq: PRCT), a surgical robotics company specializing in urology solutions, has announced its plans to release second quarter 2024 financial results on August 1, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the results.
Interested parties can access the call via a webcast link or dial-in registration for sell-side analysts. The live audio webcast and an archived recording will be available on the company's investor relations website. The webcast replay will be accessible for at least 90 days after the event.
PROCEPT BioRobotics announced the American Medical Association (AMA) has granted a new CPT Category I code for its Aquablation therapy, used to treat benign prostatic hyperplasia (BPH). This decision, driven by increased usage and clinical success, will take effect on January 1, 2026, replacing the current Category III CPT code. Until then, the existing code, 0421T, remains in use. This advancement underscores Aquablation therapy's safety, efficacy, and acceptance in treating BPH.
PROCEPT BioRobotics (Nasdaq: PRCT), a surgical robotics company specializing in urology, will present at the 2024 Truist Securities MedTech Conference in Boston, Massachusetts. The presentation is scheduled for June 18, 2024, at 1:20 p.m. Eastern Time. Management will provide insights into the company's advancements and strategies. Investors can access the live webcast and archived recordings on the company's investor relations website.
PROCEPT BioRobotics (Nasdaq: PRCT), a leader in surgical robotics focused on urology, announces participation in two key conferences: the 2024 Leerink Partners Healthcare Crossroads Conference on May 29 in Austin, Texas, and the 44th Annual William Blair Growth Stock Conference on June 4 in Chicago. Management will present at 10:20 a.m. ET and 5:00 p.m. ET respectively. Both presentations will be available via live webcast and archived for 90 days on the company's investor relations website.
PROCEPT BioRobotics presented long-term real-world data at the 2024 AUA Annual Meeting demonstrating the sustained benefits of Aquablation therapy for men with benign prostatic hyperplasia (BPH). The data showcased the efficacy of Aquablation therapy in treating BPH, emphasizing safety, durability, and positive outcomes such as improved International Prostate Symptom Score (IPSS) and increased peak urinary flow rate (Qmax). The results from various studies highlighted the potential for Aquablation therapy to become the new standard of care in BPH management.
PROCEPT BioRobotics reported total revenue of $44.5 million for the first quarter of 2024, marking an 83% increase from the previous year. The company's U.S. revenue saw significant growth across various segments, with handpiece and consumables revenue increasing by 101%. The company sold 38 U.S. robotic systems during the quarter and increased its international revenue by 65% compared to the prior year period. PROCEPT adjusted its fiscal year 2024 total revenue guidance to $213.5 million, showcasing a strong start to the year and optimistic growth projections.