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Silk Road Medical (SILK) delivers innovative solutions for carotid artery disease through its clinically validated TCAR technology. This news hub provides investors and healthcare professionals with essential updates on the company’s advancements in stroke prevention and vascular surgery.
Access consolidated information on regulatory milestones, clinical trial results, and strategic partnerships that demonstrate SILK’s leadership in minimally invasive therapies. Our repository includes earnings reports, product launch announcements, and peer-reviewed study outcomes critical for evaluating the company’s market position.
Discover how SILK’s neuroprotective technologies and surgeon collaborations continue shaping vascular care standards. Bookmark this page for real-time updates on developments impacting both patient outcomes and long-term corporate growth in the medical device sector.
Boston Scientific (BSX) reported strong Q3 2024 results with net sales of $4.209 billion, representing a 19.4% increase year-over-year. The company achieved adjusted EPS of $0.63, exceeding guidance of $0.57-$0.59. Notable segment growth includes Cardiovascular at 25.0% and MedSurg at 10.3%. Regional performance showed U.S. sales growth of 23.5% and EMEA growth of 15.2%. The company received multiple regulatory approvals, including FDA approval for the FARAWAVE™ NAV Ablation Catheter and completed the acquisition of Silk Road Medical. For full-year 2024, BSX projects net sales growth of approximately 16.5% on a reported basis.
Boston Scientific (NYSE: BSX) has completed its acquisition of Silk Road Medical, Inc. (Nasdaq: SILK) for $27.50 per share, representing an enterprise value of approximately $1.18 billion. This acquisition strengthens Boston Scientific's vascular technology solutions by integrating the innovative transcarotid artery revascularization (TCAR) platform for stroke prevention and carotid artery disease treatment.
The deal is expected to have a minimal impact on Boston Scientific's adjusted earnings per share in 2024 and 2025, becoming accretive thereafter. The impact on GAAP earnings may be less favorable due to amortization expenses and acquisition-related charges. This strategic move aims to expand the availability of TCAR to more physicians and patients through Boston Scientific's extensive commercial network.
Silk Road Medical (Nasdaq: SILK) reported its Q2 2024 financial results, showing continued growth in TCAR adoption. Revenue increased by 13% to $51.2 million compared to Q2 2023. Gross profit rose to $38.5 million with a gross margin of 75%, up from 71% in the previous year. However, operating expenses increased by 20% to $55.7 million. The company reported a net loss of $16.6 million, or $0.42 per share, compared to a loss of $13.5 million, or $0.35 per share, in Q2 2023. Adjusted EBITDA loss improved to $1.1 million from $3.4 million in the prior year. Cash, cash equivalents, and investments stood at $186.2 million as of June 30, 2024. Due to the proposed acquisition by Boston Scientific, Silk Road Medical has withdrawn its full-year 2024 financial guidance.
Silk Road Medical has announced a significant milestone: over 100,000 Transcarotid Artery Revascularization (TCAR) procedures have been performed to date. TCAR, pioneered by Silk Road, is a minimally invasive technique for treating carotid artery disease and reducing stroke risk. The procedure utilizes the ENROUTE® Transcarotid Neuroprotection System with patented flow reversal technology.
Compared to traditional carotid endarterectomy (CEA), TCAR has shown lower risks of acute heart attack and nerve injury, shorter procedure times, and reduced hospital stays. With 15 million people worldwide suffering strokes annually and carotid artery disease contributing to over 800,000 strokes in the U.S. each year, TCAR's efficiency and effectiveness are important for stroke prevention.
Boston Scientific (NYSE: BSX) reported strong Q2 2024 results, with net sales of $4.120 billion, up 14.5% on a reported basis and 14.7% organically. GAAP EPS was $0.22, while adjusted EPS reached $0.62, exceeding guidance. The company saw significant growth across segments, with Cardiovascular up 17.8% and MedSurg up 9.0%. Regionally, U.S. sales grew 16.9%, and Emerging Markets increased 14.8%. Key developments include NMPA approval in China for the FARAPULSE™ PFA System and positive clinical trial results for various products. Boston Scientific also announced plans to acquire Silk Road Medical. The company raised its full-year 2024 guidance, projecting net sales growth of 13.5-14.5% on a reported basis and adjusted EPS of $2.38-$2.42.
Silk Road Medical (NASDAQ:SILK) has announced a definitive agreement to be acquired by Boston Scientific (NYSE:BSX) for $27.50 per share in cash. This deal values Silk Road at approximately $1.26 billion, representing a 38% premium to the company's average share price over the past 60 days. Silk Road's board of directors has unanimously approved the transaction and recommends stockholders adopt the merger agreement. The transaction is expected to close in the second half of 2024, subject to customary closing conditions, including stockholder and regulatory approvals. Upon completion, Silk Road will become a wholly-owned subsidiary of Boston Scientific. BofA Securities is the exclusive financial advisor, with Wilson Sonsini Goodrich & Rosati serving as legal advisor to Silk Road Medical.
Boston Scientific (NYSE: BSX) has agreed to acquire Silk Road Medical (Nasdaq: SILK) for $27.50 per share, valuing the transaction at approximately $1.16 billion. The acquisition adds Silk Road's FDA-approved TCAR technology for stroke prevention to Boston Scientific's vascular portfolio. TCAR, a minimally invasive procedure, has shown reduced stroke risks and complications compared to traditional surgery. Silk Road Medical expects net revenue of $194-198 million in 2024, marking a 10-12% increase from the previous year. The transaction is set to close in the second half of 2024, with minimal impact on Boston Scientific's adjusted earnings per share in 2024 and 2025, and potential accretive effects thereafter.
Silk Road Medical, Inc. reported strong financial results for the first quarter of 2024, with revenue reaching $48.5 million, marking a 21% increase from the same period last year. Gross profit also rose to $36.5 million, with a gross margin of 75%. Operating expenses were $51.4 million, resulting in a net loss of $14.1 million. Adjusted EBITDA showed improvement at a loss of $3.9 million. The company projects revenue for the full year 2024 to range from $194 million to $198 million, representing a growth of 10% to 12% over the prior year.
