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 (SWAV) reported robust financial results for Q3 2022, achieving $131.3 million in revenue, marking a 102% increase from Q3 2021. The company's gross profit surged to $113.5 million, with a gross margin of 86%, up from 83% the previous year. Net income reached $35.0 million, significantly higher than $1.9 million in Q3 2021. The company also issued an updated revenue guidance of $483 million to $488 million for the full year 2022, representing 104% to 106% growth compared to the prior year.
Shockwave Medical has announced positive results from the Disrupt PAD III Observational Study, highlighting the safety and effectiveness of Intravascular Lithotripsy (IVL) in treating complex calcified lesions in patients with peripheral artery disease (PAD). The study included a cohort of 1,373 patients and demonstrated consistency in reducing stenosis without serious complications. Key findings showed a final residual diameter stenosis of 24%, similar to previous clinical trials. The evidence reinforces the potential of IVL as a first-line therapy for calcified PAD.
Shockwave Medical (NASDAQ: SWAV) will announce its third quarter 2022 financial results on November 7, 2022, after market close. A conference call is scheduled for 1:30 p.m. PT / 4:30 p.m. ET the same day. Investors can access the live and archived webcast through the company’s Investors section on its website. Shockwave Medical specializes in Intravascular Lithotripsy (IVL), a novel treatment for calcified cardiovascular disease, aiming to set a new standard in interventional care.
Shockwave Medical has launched the EMPOWER CAD study, the first-ever prospective coronary intervention study focusing solely on female patients. This study aims to examine the effectiveness of the Shockwave C2 Coronary IVL Catheter in treating calcified coronary artery disease (CAD) in women, who often experience worse clinical outcomes than men. Up to 400 female patients will be enrolled across 50 sites in the US and Europe, with data collected over three years. The study seeks to address the disparity in treatment and outcomes for female patients with CAD.
Shockwave Medical (NASDAQ: SWAV) announced participation in two upcoming virtual investor conferences to showcase its innovative Intravascular Lithotripsy (IVL) technology for treating calcified cardiovascular disease. The conferences are:
- Wells Fargo Healthcare Conference on September 8, 2022, at 9:45 a.m. ET.
- Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 2:05 p.m. ET.
Live and archived webcasts will be available on the company's website, potentially attracting investor interest in their pioneering treatment methods.
Shockwave Medical (SWAV) reported a remarkable 116% revenue growth for Q2 2022, totaling $120.7 million, up from $55.9 million in Q2 2021. The increase is fueled by the successful launch of its coronary product, Shockwave C2, and a recovery from pandemic effects. Gross profit also surged to $104 million, reflecting an 86% gross margin. The company projects full-year revenue guidance between $465 million and $475 million, marking a growth of up to 100% year-over-year. Net income for the quarter reached $25.6 million, compared to a loss in the prior year.
Shockwave Medical, Inc. (NASDAQ: SWAV) will release its second quarter 2022 financial results on August 8, 2022, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. Additionally, the company's management will participate in a fireside chat on August 10, 2022, at 3:00 p.m. ET during the Canaccord Genuity 42nd Annual Growth Conference in Boston, MA. Live and archived webcasts of these events will be accessible on the company’s investor website.
Shockwave Medical is dedicated to innovating treatments for complex calcified cardiovascular disease through its Intravascular Lithotripsy technology.
Shockwave Medical, Inc. (SWAV) has received regulatory approval from China's National Medical Products Administration (NMPA) for its Shockwave IVL System, which includes the Shockwave C2 Coronary IVL Catheters and the Shockwave M5 and S4 Peripheral IVL Catheters. This milestone enables the marketing and sale of Shockwave's products in China, expanding access to treatment for patients with calcified cardiovascular disease. The approval is part of a joint venture with Genesis MedTech, which began in March 2021, to leverage local manufacturing capabilities.
Shockwave Medical announced long-term results from the Disrupt PAD III trial, revealing that their Intravascular Lithotripsy (IVL) significantly improves outcomes for patients with severely calcified peripheral artery disease compared to percutaneous transluminal angioplasty (PTA). The study showed a primary patency rate of 80.5% for IVL after one year, compared to 68.0% for PTA, and 74.4% versus 57.7% after two years. With a lower rate of complications and unplanned stent implantations, these results bolster IVL as a preferred treatment strategy.
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