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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 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.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced the installation of five AquaBeam Robotic Systems across Northside Health Systems in Georgia, marking a significant expansion of their surgical robotics program. The AquaBeam system utilizes heat-free waterjet technology for the treatment of benign prostatic hyperplasia (BPH), a common prostate disease affecting 40 million men in the U.S. The therapy aims to provide a safe and effective treatment option tailored to patients’ needs, enhancing access to innovative surgical techniques.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced preliminary unaudited revenues for Q4 and FY 2021, projecting revenue between $9.8 million and $10.1 million for Q4, up from <$3.2 million> in the previous year. Total FY 2021 revenue is expected to be between $34.1 million and $34.4 million, compared to <$7.7 million> in FY 2020. Revenue growth is attributed to increased sales of their AquaBeam Robotic System and successful adoption of Aquablation therapy. Full financial results will be released in March 2022.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced the appointment of Mary Garrett to its Board of Directors, increasing the board size to nine members. Ms. Garrett brings extensive experience, having previously served on the board of Hillrom Corporation and as Chief Marketing Officer for IBM Corporation. Her expertise in technology and organizational development is expected to benefit PROCEPT's growth in the urology market, especially with its AquaBeam Robotic System targeting benign prostatic hyperplasia (BPH), a condition affecting approximately 40 million men in the U.S.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) reported a strong third quarter 2021 with total revenue of $8.7 million, a significant increase from $2.1 million in Q3 2020. U.S. system revenue rose to $5.0 million from $0.6 million, while U.S. handpiece revenue reached $2.2 million compared to $0.5 million last year. The company completed its IPO, generating net proceeds of $172.4 million. Gross margin improved to 48.9% from -1% a year ago. Despite a net loss of $14.1 million, PROCEPT maintained a healthy cash position of $320.5 million.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has appointed Elisabeth Sandoval to its Board of Directors, expanding the board to nine members. Sandoval brings extensive experience from her roles at Alder Biopharmaceuticals and Allergan, emphasizing her commercial expertise in healthcare. CEO Reza Zadno stated that her background aligns with the company's strategies to enhance adoption of Aquablation therapy for treating benign prostatic hyperplasia (BPH). This therapy aims to revolutionize care for the 40 million men in the U.S. affected by BPH, supported by a strong body of clinical evidence.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) will report its third-quarter 2021 financial results on November 4, 2021, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET, accessible via phone or webcast. The company specializes in urological surgical robotics, focusing on the AquaBeam Robotic System, which treats benign prostatic hyperplasia (BPH), affecting approximately 40 million men in the U.S. PROCEPT has established a robust clinical foundation with nine studies and over 100 peer-reviewed publications supporting its Aquablation therapy.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced that Cigna will now cover Aquablation therapy for Benign Prostatic Hyperplasia (BPH), effective September 15, 2021. This decision enhances access to a proven treatment option for millions of Cigna members suffering from lower urinary tract symptoms (LUTS) due to BPH. CEO Reza Zadno emphasized that Aquablation therapy, which has demonstrated clinical efficacy irrespective of prostate size or shape, aligns with high-quality clinical data trusted by payors. Cigna joins Medicare and other private health plans in supporting this therapy.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has successfully closed its upsized initial public offering of 7,539,400 shares at a price of $25.00 per share, generating approximately $188.5 million in gross proceeds. This offering included the full exercise of underwriters' options for an additional 983,400 shares. Shares began trading on the Nasdaq Global Market on September 15, 2021. The offering was managed by BofA Securities and Goldman Sachs, among others. PROCEPT focuses on innovative solutions in urology, particularly the AquaBeam Robotic System for treating benign prostatic hyperplasia (BPH).
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has priced its upsized initial public offering at $25.00 per share, raising total gross proceeds of $163.9 million. The offering consists of 6,556,000 shares, all sold by PROCEPT, with trading on the Nasdaq expected to begin on September 15, 2021. The offering is scheduled to close on September 17, 2021, pending customary conditions. Underwriters have a 30-day option to purchase an additional 983,400 shares. PROCEPT is focused on developing robotic solutions for urology, particularly the AquaBeam Robotic System for treating benign prostatic hyperplasia.
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