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Silk Road Medical, Inc. - SILK STOCK NEWS

Welcome to our dedicated page for Silk Road Medical news (Ticker: SILK), a resource for investors and traders seeking the latest updates and insights on Silk Road Medical stock.

Silk Road Medical, Inc. (NASDAQ: SILK) is revolutionizing the treatment of carotid artery disease through innovative medical devices and procedures. Located in Sunnyvale, California, and Plymouth, Minnesota, the company is dedicated to reducing the risk of stroke—a leading cause of disability and death worldwide. Silk Road Medical has developed the groundbreaking TransCarotid Artery Revascularization (TCAR) procedure, a minimally invasive technique that combines surgical principles of neuroprotection with advanced endovascular methods to treat carotid artery blockages. With over 85,000 TCAR procedures performed in the United States by the end of 2023, the company is rapidly replacing traditional surgical methods and improving patient outcomes.

Silk Road Medical’s core products include the ENROUTE® Transcarotid Neuroprotection System and the ENROUTE® Transcarotid Stent System. These devices are designed to work seamlessly with the TCAR procedure, providing high-rate blood flow reversal to protect the brain during surgery. The company’s technology has been clinically proven to lower the risks of stroke, death, and cranial nerve injury compared to traditional methods like Carotid Endarterectomy (CEA).

The company is not just focused on innovation but also on market expansion. A key recent achievement is the exclusive distribution agreement with Genesis MedTech Group to bring TCAR products to China. This partnership aims to address the high incidence of carotid artery disease in China, significantly contributing to better patient care and outcomes.

Financially, Silk Road Medical has shown robust growth. For the third quarter of 2023, the company reported a revenue of $44.4 million, a 19% increase compared to the same period in the prior year. The company projects full-year 2024 revenues to range from $194 million to $198 million, marking a 10% to 12% growth over the previous year. Despite challenges like increased operation costs and a net loss of $14.1 million in the first quarter of 2024, the company remains optimistic about its future, driven by increased TCAR adoption and new product innovations such as the NPS PLUS.

CEO Chas McKhann, with over 25 years of leadership experience in the medical device industry, is steering the company towards further innovations and market penetration. Under his leadership, Silk Road Medical is not only maintaining but expanding its commitment to delivering brighter patient outcomes through continuous learning, observation, and improvement in vascular care.

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Silk Road Medical, Inc. (Nasdaq: SILK) has launched the ENROUTE Transcarotid Neuroprotection System PLUS, enhancing the TCAR portfolio with improved features for smoother insertion, greater precision, and a simplified prep experience. The company aims to strengthen neuroprotection during the TCAR procedure, reflecting its commitment to innovation in carotid disease treatment.
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Silk Road Medical (NASDAQ: SILK) and Genesis MedTech Group have signed an exclusive distribution agreement to introduce TCAR® core products in China. TCAR is a minimally invasive surgical procedure to treat carotid artery disease, reducing the risk of stroke and improving outcomes. The partnership aims to provide comprehensive solutions to patients in China, where stroke is a major health concern.
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Silk Road Medical, Inc. (SILK) launches Tapered ENROUTE Transcarotid Stent System in the US, expanding its TCAR offerings. The system aims to reduce stroke risk with tailored configurations for patient anatomy, offering physicians a diverse toolkit for carotid artery disease treatment.
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Silk Road Medical, Inc. (SILK) reported financial results for Q4 2023 and full year 2023, showing revenue growth driven by increased TCAR adoption. The company completed over 25,000 TCAR procedures in 2023, received expanded coverage for TCAR, and initiated market releases for new configurations. Despite revenue growth, operating expenses increased, leading to a net loss for both periods. The company projects revenue of $194-198 million for 2024.
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Silk Road Medical, Inc. (Nasdaq: SILK) will report financial results for Q4 and full year 2023 on February 28th, 2024. The corresponding audio webcast will be hosted by company management at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Interested participants can register online and are encouraged to do so at least 15 minutes before the call. A live and replay version of the webcast will be available at https://investors.silkroadmed.com.
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Silk Road Medical, Inc. (Nasdaq: SILK) to present at the 42nd Annual J.P. Morgan Healthcare Conference on January 10, 2024
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Silk Road Medical, Inc. (Nasdaq: SILK) reported a 19% increase in revenue for the third quarter of 2023, driven by increased TCAR adoption. The company also welcomed Chas McKhann as the new CEO, projecting 23% to 26% revenue growth for full year 2023.
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Silk Road Medical, Inc. has appointed Chas McKhann as Chief Executive Officer (CEO). McKhann brings over 25 years of experience in the medical device industry and has held leadership positions at several companies. Silk Road focuses on reducing the risk of stroke and aims to establish Transcarotid Artery Revascularization (TCAR) as the standard of care in carotid artery disease.
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Silk Road Medical, Inc. will report financial results for Q3 2023 on November 8th, 2023. A corresponding audio webcast will be available for participants to listen to the conference call.
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Silk Road Medical announces preliminary Q3 2023 revenue of $44.4 million, a 19% increase YoY, and updates full year 2023 revenue guidance to range from $170 million to $174 million, representing 23% to 26% growth over the prior year.
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FAQ

What is the current stock price of Silk Road Medical (SILK)?

The current stock price of Silk Road Medical (SILK) is $27.49 as of September 17, 2024.

What is the market cap of Silk Road Medical (SILK)?

The market cap of Silk Road Medical (SILK) is approximately 1.1B.

What is Silk Road Medical, Inc.?

Silk Road Medical, Inc. is a medical device company focused on reducing the risk of stroke through innovative treatments for carotid artery disease, including the TransCarotid Artery Revascularization (TCAR) procedure.

What is TCAR?

TCAR, or TransCarotid Artery Revascularization, is a minimally invasive procedure that combines surgical neuroprotection principles with endovascular techniques to treat blockages in the carotid artery.

Where is Silk Road Medical located?

Silk Road Medical is headquartered in Sunnyvale, California, with additional operations in Plymouth, Minnesota.

What are Silk Road Medical’s main products?

The company’s main products include the ENROUTE® Transcarotid Neuroprotection System and the ENROUTE® Transcarotid Stent System, both integral to the TCAR procedure.

How has Silk Road Medical performed financially?

For the third quarter of 2023, Silk Road Medical reported a revenue of $44.4 million, a 19% increase compared to the same period the previous year. The company projects full-year 2024 revenues to range from $194 million to $198 million.

Who is the CEO of Silk Road Medical?

The CEO of Silk Road Medical is Chas McKhann, an accomplished leader with over 25 years of experience in the medical device industry.

What recent partnerships has Silk Road Medical announced?

Silk Road Medical recently signed an exclusive distribution agreement with Genesis MedTech Group to introduce TCAR products in China.

What are the benefits of TCAR compared to traditional methods?

TCAR has been clinically proven to lower the risks of stroke, death, and cranial nerve injury compared to traditional methods like Carotid Endarterectomy (CEA).

How many TCAR procedures have been performed?

By the end of 2023, over 85,000 TCAR procedures had been performed in the United States.

What is the future outlook for Silk Road Medical?

Silk Road Medical is focused on increasing TCAR adoption, developing new products, and expanding its market presence, aiming for continued growth and innovation in the treatment of carotid artery disease.
Silk Road Medical, Inc.

Nasdaq:SILK

SILK Rankings

SILK Stock Data

1.12B
38.94M
4.15%
97.46%
7.75%
Medical Devices
Surgical & Medical Instruments & Apparatus
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United States of America
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