At the heart of the medical device space isn’t just new technologies for diagnostics but also substitutes for potentially addictive and life-destroying drugs.
Anything you can do with physical-external stimuli instead of pills that impact the brain is possibly a life-changing option for someone faced with a serious healthcare dilemma.
The Opioid epidemic is obviously the most significant in this narrative, as tens of thousands continue to die of this plague. According to the CDC, more than 932,000 people have died since 1999 from a drug overdose, and nearly 75% of drug overdose deaths in 2020 involved an opioid.
That’s part of the story. The other part is the technology revolution now underway. The technology we have available for new and revolutionary platforms and products in the medical device space are ramping up at an unprecedented pace, making the space increasingly interesting.
With that in mind, we take a fresh look below at some of the most interesting names in the medical device space.
Shockwave Medical Inc. (Nasdaq:SWAV) operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated.
The firm offers M5 catheters for treating above-the-knee peripheral artery disease, C2 catheters for treating coronary artery disease, and S4 catheters or treating below-the-knee peripheral artery disease.
Shockwave Medical Inc. (Nasdaq:SWAV) recently announced that it has initiated the first-ever prospective coronary intervention study consisting of all female patients – EMPOWER CAD – to determine whether the positive results from earlier coronary IVL studies with the Shockwave C2 Coronary IVL Catheter, which showed similar safety outcomes across both sexes, can be replicated in an expanded, ‘real-world’ population of female patients with severely calcified coronary lesions. This prospective, multicenter registry will enroll up to 400 female patients with symptomatic ischemic heart disease in up to 50 investigational centers in the United States and Europe and will include a 3-year follow-up.
“When it comes to coronary artery disease (CAD), females are often under-investigated, under-treated and have less favorable outcomes than males due to a variety of different factors,” said Dr. McEntegart. “Previous reports with atherectomy have shown that females with calcified CAD are more susceptible to adverse procedural outcomes compared to males. Despite often being more challenging to treat, female patients are under-represented in published data, and there have been no dedicated prospective studies performed on this population. EMPOWER CAD will be an extremely valuable study to better inform interventional cardiologists on the optimal treatment strategy for these complex patients.”
If you’re long this stock, then you’re liking how the stock has responded to the announcement. SWAV shares have been moving higher over the past week overall, pushing about 5% to the upside on above average trading volume.
Shockwave Medical Inc. (Nasdaq:SWAV) managed to rope in revenues totaling $120.7M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 116%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($224.9M against $66.2M).
Electromedical Technologies Inc. (OTC US:EMED) is flying under the radar as a disruptive force in the pain-free drug-free marketplace. The company’s flagship product, the WellnessPro Plus, uses frequency and electro-modulation to combat pain effectively. However, according to last night’s release, the company has moved on to introduce a revolutionary new path for the electromedical device marketplace.
The company’s technology platform has started to ramp up, with management now focused on scaling it worldwide. While EMED is just now starting to scratch the surface of its big-picture sales equation, we are already starting to see strong growth and overall results.
Electromedical Technologies Inc. (OTC US:EMED) just announced that the company is very excited to introduce its new next-generation flagship device, the WellnessPro Infinity™. See the WellnessPro Infinity™ https://electromedtech.com/wp-infinity/
“The WellnessPro Infinity™ will set an entirely new standard in the Bioelectronics marketplace,” remarked Electromedical Founder and CEO, Matthew Wolfson. “There’s nothing like it on the market in terms of capability, flexibility, ease of use, and doctor-patient interface. And most important of all – Patient results.”
The NEW WellnessPro Infinity™ device features one compact device that encompasses ALL electrotherapy modalities, the ability to produce any frequency, any wave form (typical or atypical), any level of modulation, a design able to support: TENS, Microcurrent, IF, EMS, PEMF, CES, VNS, PNS, COLD Laser, POD Synchronization, IDNA™, Deep Pluse™, Cloud access and much more, unprecedented accuracy, the easiest to use electrotherapy device design on the market, and a new Doctor-Patient Portal for updates and personalized treatments.
Electromedical Technologies Inc. (OTC US:EMED) CEO Wolfson added, ” I want to thank our shareholders for the continued support, everyone at EMED and especially our incredible engineering team in Europe, for the hard work, innovation and long hours our team put in, to create a device we believe will help millions of people live happier healthier Pain Free lives and help battle the Opioid epidemic. Now that we have completed development of our NEW flagship model by October as planned, the next step is electrical laboratory safety testing. After that, it will be production ready. Once production is underway, we will begin taking pre orders. Our goal is to start shipping units next quarter. POD development is going as planned and we look forward to sharing progress in our upcoming press releases soon. Our goal is to go to market with the WellnessPro Infinity™ first, then shortly after releasing the POD upon FDA 510k clearance.”
Novocure Ltd. (Nasdaq:NVCR) is an oncology company which engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors.
The company’s platform is called the Tumor Treating Field which uses electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division.
Novocure Ltd. (Nasdaq:NVCR) recently announced reported financial results for the quarter ended September 30, 2022. Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer by developing and commercializing its innovative therapy, Tumor Treating Fields (TTFields).
“In the third quarter, we showed consistent execution in service of our mission to extend survival in some of the most aggressive forms of cancer,” said William Doyle, Novocure’s Executive Chairman. “We are diligently working to reach additional patients in our current markets, expand into new markets, enhance our products and treat patients in new indications throughout the body. We are investing aggressively to prepare Novocure for the future and are eager to treat many more patients in the coming years.”
And the stock has been acting well over recent days, up something like 10% in that time.
Novocure Ltd. (Nasdaq:NVCR) managed to rope in revenues totaling $140.9M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 5.5%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($949.3M against $135.4M).
Other key players in the medical device space include iRhythm Technologies Inc. (Nasdaq:IRTC), Medtronic PLC (NYSE:MDT), Zynex Inc. (Nasdaq:ZYXI), electroCore Inc. (Nasdaq:ECOR), and Tivic Health Systems Inc. (Nasdaq:TIVC).
For consideration of being featured on WallstreetPR, contact: Editor@Wallstreetpr.com