Welcome to our dedicated page for Procept Biorobotics news (Ticker: PRCT), a resource for investors and traders seeking the latest updates and insights on Procept Biorobotics stock.
Company Overview
PROCEPT BioRobotics Corporation is a Silicon Valley-based surgical robotics company dedicated to transforming urologic patient care through innovative, minimally invasive solutions. With a deep commitment to clinical excellence, the company designs and manufactures advanced robotic systems that empower surgeons to perform precise procedures with predictable and reproducible outcomes.
Innovative Robotic Solutions
At its core, PROCEPT BioRobotics develops the AquaBeam and HYDROS Robotic Systems. These state-of-the-art platforms utilize real-time ultrasound imaging and advanced imaging guidance to enable personalized treatment planning. The AquaBeam system, the world’s first autonomous robotic platform for aquablation therapy, safely removes prostate tissue in cases of benign prostatic hyperplasia (BPH), regardless of anatomical variations or surgeon experience. The HYDROS system further integrates AI capabilities to optimize surgical planning and execution, improving both efficiency and clinical outcomes in urologic procedures.
Clinical Excellence and Evidence
The company’s approach is underscored by a robust body of clinical data, with over 150 peer-reviewed publications and multiple clinical trials validating the safety and efficacy of aquablation therapy. Surgeons benefit from a technology that delivers fast, consistent, and reproducible results. The focus on minimally invasive techniques is designed not only to reduce recovery time and complications but also to preserve critical functions such as sexual function and continence, thereby enhancing overall patient quality of life.
Advanced Technology and Real-Time Imaging
Through its image-guided surgical systems, PROCEPT BioRobotics provides surgeons with a multidimensional view of the prostate, allowing for precise tissue resection. The real-time ultrasound imaging incorporated into the robotic platforms ensures that each procedure is tailored to the unique anatomical characteristics of each patient. This level of personalization in treatment planning is crucial for achieving optimal clinical outcomes, demonstrating the company’s expertise in merging robotics, imaging technology, and surgical precision.
Market Position and Competitive Landscape
Operating within the highly specialized field of urologic surgical robotics, PROCEPT BioRobotics holds a distinctive position by focusing on treatments for BPH, a prevalent condition affecting millions of men in the United States. By pioneering aquablation therapy, the company has established itself as a credible innovator in an industry that demands rigorous clinical validation and continuous technological advancement. The combination of advanced robotics and a significant repository of clinical evidence sets the company apart from other medical device manufacturers, ensuring that its solutions remain relevant and trustworthy to both healthcare professionals and the broader medical community.
Operational Footprint and Product Strategy
While a majority of its revenue is generated in the United States, the company’s impact is increasingly global. PROCEPT BioRobotics is committed to expanding market access through strategic installations and consistent performance improvements across its product lines. With products that are designed to work effectively regardless of prostate size or shape, the company addresses a wide spectrum of patient profiles, enhancing its appeal within the diverse and competitive landscape of medical devices.
Commitment to Innovation and Quality
Innovation is central to the company’s ethos. Combining cutting-edge robotics with artificial intelligence, PROCEPT BioRobotics continually evolves its product offerings to meet the rigorous demands of modern urologic surgery. The operational philosophy emphasizes safety, efficiency, and clinical accuracy, ensuring that each robotic system not only meets but exceeds the necessary standards for transformational patient care. The company’s notable emphasis on clinical research and validation further reinforces its role as an authoritative and trusted player in the surgical robotics arena.
Summary
In summary, PROCEPT BioRobotics Corporation is a trailblazer in the field of surgical robotics, specializing in transformative solutions for urologic conditions such as BPH. By marrying innovative robotic technology with extensive clinical evidence, the company has redefined the parameters of minimally invasive surgery. Its dedication to advancing surgical precision and patient safety positions it as an essential contributor to modern urologic care. Investors and healthcare stakeholders seeking comprehensive insights into advanced medical device technologies will find this company’s approach both compelling and indicative of its expertise in the ever-evolving landscape of surgical robotics.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced it will release its financial results for the second quarter of 2022 on August 4, 2022, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. Investors can listen through a webcast or by registering for a call. PROCEPT focuses on surgical robotics and advanced solutions in urology, particularly for treating benign prostatic hyperplasia (BPH). The company highlights its AquaBeam Robotic System and significant clinical evidence supporting its Aquablation therapy.
PROCEPT BioRobotics (Nasdaq: PRCT) announced on June 9, 2022, that five regional private insurance plans have begun providing positive coverage for Aquablation therapy, treating benign prostatic hyperplasia (BPH). This includes three Blue Cross Blue Shield healthcare plans and covers approximately 8.5 million members. Key plans include Highmark (4.5 million members), BCBS of Minnesota (2.1 million members), and Medical Mutual (1.1 million members). CEO Reza Zadno stated these decisions reflect strong clinical support for Aquablation therapy, enhancing patient access to this effective treatment.
PROCEPT BioRobotics reported first-quarter 2022 revenues of $14.2 million, a 97% increase year-over-year. U.S. system and rental revenue reached $7.8 million, up 70%, while handpiece and consumables revenue surged 174% to $4.4 million. The company raised its full-year revenue guidance to $58 million to $62 million, reflecting 68% to 80% growth. Operating expenses rose to $23.4 million, resulting in a net loss of $17.2 million. Cash and short-term investments stood at $284.3 million. The AQUABEAM Robot received regulatory approval in Korea and Japan.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced on April 28, 2022, that Aetna US Healthcare has updated its coverage policy to positively include Aquablation therapy for Benign Prostatic Hyperplasia (BPH) treatment, effective April 26, 2022. Additionally, Independence Blue Cross Blue Shield extended its coverage to include Aquablation therapy for approximately 4 million members, starting April 25, 2022. The CEO highlighted the growing adoption of Aquablation therapy, which now has five of the seven largest U.S. commercial payors approving its coverage.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) will report its first-quarter 2022 financial results on May 5, 2022, after market close. The company focuses on urological solutions, primarily with its AquaBeam Robotic System, which offers effective treatment for benign prostatic hyperplasia (BPH). The management will hold a conference call at 1:30 p.m. PT for investors. A recording will be accessible on the company’s website for 90 days. Additionally, PROCEPT will participate in the Bank of America Healthcare Conference on May 11, presenting at 2:00 p.m. PT.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced an in-person investor event on May 13, 2022, during the American Urology Association Annual Meeting in New Orleans. The event will feature insights from the executive team and a surgeon panel discussing the AquaBeam Robotic System. PROCEPT's AquaBeam technology focuses on treating benign prostatic hyperplasia (BPH), a condition affecting around 40 million men in the U.S. The company has established a robust clinical evidence base, comprising nine studies and over 100 peer-reviewed publications supporting Aquablation therapy outcomes.
PROCEPT BioRobotics (Nasdaq: PRCT) reported strong financial results for Q4 and full year 2021, with revenues reaching $10.1 million for Q4 and $34.5 million for the full year, up from $3.2 million and $7.7 million in 2020. The company's U.S. system and rental revenue increased to $5.0 million in Q4. Despite a net loss of $18.3 million in Q4, the company issued revenue guidance of $54.0 million to $58.0 million for 2022. Key achievements included a nearly doubled sales force and positive results from the WATER Study supporting Aquablation therapy.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced it will report its financial results for the fourth quarter and full year 2021 on March 8, 2022, before market open. A conference call will be held at 5:00 a.m. PT / 8:00 a.m. ET. Investors can listen by calling (800) 306-0005 domestically or (209) 905-5968 internationally. The AquaBeam Robotic System, designed for minimally-invasive urologic surgery, targets benign prostatic hyperplasia, affecting around 40 million men in the U.S. There is a strong clinical evidence base supporting Aquablation therapy.
PROCEPT BioRobotics Corporation announced positive five-year outcomes from its WATER study, affirming the efficacy of Aquablation therapy compared to TURP for treating benign prostatic hyperplasia (BPH). The study showed a 51% lower retreatment rate, with significant improvements in IPSS scores—15.1 points for Aquablation vs. 13.2 for TURP. In particular, larger prostates (≥50 ml) exhibited even greater benefits, suggesting a shift in BPH treatment paradigms. The results indicate Aquablation's potential as a preferred option, emphasizing safety and durability across varying prostate sizes.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced its upcoming participation in two major investor conferences. The first is the 11th Annual SVB Leerink Global Healthcare Conference on February 17, 2022, at 2:00 pm PT / 5:00 pm ET, followed by the 42nd Annual Cowen Health Care Conference on March 9, 2022, at 9:50 am PT / 12:50 pm ET. A live webcast and archive will be accessible on the company's website for 90 days post-event. PROCEPT specializes in robotic solutions for urology, particularly the AquaBeam Robotic System, addressing benign prostatic hyperplasia (BPH), impacting around 40 million men in the U.S.
FAQ
What is the current stock price of Procept Biorobotics (PRCT)?
What is the market cap of Procept Biorobotics (PRCT)?
What is the primary focus of PROCEPT BioRobotics?
What are the key products offered by the company?
How does aquablation therapy work?
What role does clinical evidence play in the company’s reputation?
How does the HYDROS Robotic System differ from the AquaBeam system?
What distinguishes PROCEPT BioRobotics in the competitive landscape?
In which markets does PROCEPT BioRobotics operate?
How does the company improve surgical outcomes with its robotic systems?
