Axonics Inc Stock Price, News & Analysis

Axonics Modulation Technologies, Inc. (Nasdaq: AXNX) will announce its fourth quarter and fiscal year 2020 financial results on February 25, 2021, after market close. A conference call is scheduled for 4:30 PM ET, accessible via phone or through a live webcast on the Axonics investor relations website. Axonics specializes in innovative sacral neuromodulation devices aimed at treating urinary and bowel dysfunction, impacting millions globally. The company boasts significant market presence and established reimbursement coverage in the U.S. and Europe, with its rechargeable SNM system leading the industry.

Axonics Modulation Technologies, Inc. (Nasdaq: AXNX) is a medical technology company specializing in implantable sacral neuromodulation (SNM) devices for urinary and bowel dysfunction. The company has announced its platinum sponsorship of the Society for Urodynamics, Female Pelvic Medicine & Urogenital Reconstruction (SUFU) 2021 Winter Meeting, held virtually from February 25-27. Notable presentations include the two-year results of the ARTISAN-SNM study and discussions on innovations in SNM technology aimed at enhancing patient care.

Axonics Modulation Technologies (Nasdaq: AXNX) has secured PMA supplement approval from the FDA for its third-generation implantable neurostimulator (INS) intended for treating urinary and bowel dysfunction. This achievement marks the sixth FDA approval for Axonics since its U.S. launch in November 2019. The upgraded INS offers enhanced patient control over therapy parameters and is set to begin shipping on March 1, 2021. The company aims to leverage this innovation to expand its market presence in the growing field of sacral neuromodulation therapy, which addresses conditions affecting millions.

Axonics Modulation Technologies, Inc. (NASDAQ: AXNX) will participate in the virtual SVB Leerink Global Healthcare Conference on February 24, 2021, presenting at 11:20 a.m. Eastern Time. Axonics specializes in innovative implantable sacral neuromodulation devices that treat urinary and bowel dysfunction, impacting millions. Their SNM therapy has shown clinical proof in reducing symptoms, enhancing quality of life. The company boasts the first long-lived rechargeable SNM system and has extensive reimbursement coverage in the U.S. and Europe. More details available on their website.

Axonics Modulation Technologies (NASDAQ: AXNX) reported preliminary unaudited net revenues for Q4 2020 between $34.7 million and $34.9 million, a significant increase from $9.9 million year-over-year. Fiscal year 2020 revenues reached approximately $111.5 million, up from $13.8 million in 2019. Despite challenges from COVID-19 leading to approximately $5 million in canceled procedures, management remains optimistic about rescheduling these cases in 2021. The company expects to release full financial results later in February.

Axonics Modulation Technologies, Inc. (Nasdaq: AXNX) appointed David M. Demski, a seasoned executive from Globus Medical, to its board of directors, effective January 1, 2021. Demski brings extensive experience in the medical technology field and is expected to contribute to Axonics' growth in the underpenetrated market for pelvic floor dysfunction treatment. The company also announced the retirement of board members Juliet Tammenoms Bakker and Erik Amble. CEO Raymond W. Cohen expressed enthusiasm over Demski's strategic insights as Axonics aims for ambitious growth targets.

Axonics Modulation Technologies (NASDAQ: AXNX) is set to participate in the Piper Sandler Virtual Healthcare Conference on December 1-2, 2020. A pre-recorded fireside chat with CEO Raymond W. Cohen will be available on November 23 at 10:00 AM ET. Axonics specializes in innovative implantable sacral neuromodulation devices that address urinary and bowel dysfunction, impacting millions. Their system is the first long-lived rechargeable SNM device approved worldwide, with established reimbursement coverage in the U.S. and Europe. For more details, visit www.axonics.com.

Axonics Modulation Technologies, Inc. (NASDAQ: AXNX) has published positive results from a fecal incontinence study involving 15 patients treated with the Axonics r-SNM System. The study, led by Prof. Stefan De Wachter, showed that 87% of patients were therapy responders at four weeks, with a 79% reduction in weekly fecal incontinence episodes at six months. Patient satisfaction was high, with 93% finding the charging process easy and acceptable. Importantly, no unanticipated adverse events were reported, enhancing the credibility of the Axonics r-SNM System.

Axonics Modulation Technologies (NASDAQ: AXNX) reported impressive third-quarter 2020 results, with net revenue soaring to $35.2 million, up from $1.3 million year-over-year. U.S. net revenue was $34.1 million, driven by over 600 unique accounts utilizing the Axonics r-SNM® System. The gross margin increased to 61.9%, although operating expenses rose to $30.6 million. Despite a net loss of $9.2 million, a significant improvement from $25.0 million in the prior year, cash reserves stand at $269.3 million. The company has gained several regulatory approvals and expanded its clinical literature.