Welcome to our dedicated page for Shockwave Medical news (Ticker: SWAV), a resource for investors and traders seeking the latest updates and insights on Shockwave Medical stock.
Shockwave Medical, Inc. (Nasdaq: SWAV) is redefining the treatment landscape for advanced cardiovascular diseases by pioneering the use of sonic pressure waves to target calcified plaque within arteries. The company’s flagship technology, Intravascular Lithotripsy (IVL), is inspired by the principles of kidney stone treatments developed over the past three decades. IVL technology safely fragments hard arterial calcium without harming the surrounding soft tissue, allowing for effective balloon dilatation and restoring blood flow.
Shockwave Medical’s portfolio includes the Lithoplasty® family of catheters, which deliver localized lithotripsy to disrupt calcified plaques in cardiovascular arteries. This innovative approach has demonstrated safety and consistent procedural success in clinical studies, such as those involving 95 patients with moderate to severely calcified lesions, with low procedural complications.
The technology is designed for ease of use, requiring only the push of a button, and seamlessly integrates with existing cardiovascular treatment protocols. Shockwave’s devices are garnering significant adoption, driven by their effectiveness in improving patient outcomes and simplicity of operation.
In recent developments, Shockwave Medical has achieved a significant milestone with the introduction of a new CPT® add-on code (+92972) for coronary IVL, effective January 1, 2024. This code recognizes the additional work associated with performing coronary IVL and ensures appropriate remuneration for physicians. This advancement is expected to further boost the adoption and financial viability of IVL procedures.
Financially, Shockwave Medical has reported robust growth. For the third quarter of 2023, the company generated $186.0 million in revenue, a 42% increase from the same period in 2022. The company’s gross profit for the quarter was $161.5 million, maintaining a high gross margin of 87%. With ongoing investments in sales force expansion and headcount, the company is well-positioned to support its growth trajectory.
On the strategic front, Shockwave Medical has recently acquired the Neovasc Reducer, a revolutionary device aimed at alleviating refractory angina by redistributing blood flow within the heart. The Reducer is currently under clinical investigation in the United States and has received CE Mark approval in Europe.
Looking ahead, Shockwave Medical expects to continue its growth momentum, projecting full-year 2023 revenue to range between $725 million and $730 million, representing a 48% to 49% increase over the prior year. The company’s strong financial health is underscored by its cash reserves, totaling $917.3 million as of September 30, 2023.
With a continuous pipeline of innovative products, strategic acquisitions, and a robust financial foundation, Shockwave Medical is poised to lead the transformation in the treatment of cardiovascular diseases. For more information, visit www.shockwavemedical.com.
Shockwave Medical, Inc. reported strong financial results for the first quarter of 2024, with revenue reaching $218.8 million, a 36% increase from the same period in 2023. The company's gross profit was $190.6 million, operating expenses rose by 48%, and net income improved to $55.3 million. Adjusted EBITDA increased by 19% to $68.5 million. Shockwave Medical's cash position stood at $1,029.2 million as of March 31, 2024. The company has withdrawn its full year 2024 guidance due to the proposed acquisition by Johnson & Johnson.
FAQ
What is the current stock price of Shockwave Medical (SWAV)?
What is the market cap of Shockwave Medical (SWAV)?
What is Shockwave Medical's core technology?
How does IVL technology work?
What recent achievement has Shockwave Medical made in terms of CPT coding?
How has Shockwave Medical performed financially in recent quarters?
What are some of Shockwave Medical’s strategic acquisitions?
What is the financial outlook for Shockwave Medical in 2023?
Where can I find more information about Shockwave Medical?
What makes IVL technology unique?
How easy is it to use Shockwave Medical's IVL devices?
What clinical studies support the effectiveness of Shockwave Medical's technology?
