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.
Axonics Modulation Technologies (NASDAQ: AXNX) has submitted a premarket approval supplement to the FDA for its implantable sacral neuromodulation systems, aiming to gain MRI conditional labeling with detachable extremity coils. This addition allows for enhanced MRI scanning capabilities, particularly for extremities, which comprise about 24% of all MRI scans. The expanded labeling would increase access and safety for patients during imaging. FDA review is expected within 180 days, and this move highlights Axonics' commitment to innovation in patient care.
Axonics Modulation Technologies, Inc. (NASDAQ: AXNX) has initiated a post-market clinical registry study called ARTISTRY to gather real-world data on the Axonics r-SNM® System for treating urinary and bowel dysfunction. The study aims to enroll up to 300 patients across 30 centers in the U.S. and Canada, assessing effectiveness, safety, and patient experiences over a year. The chief medical officer highlighted that bladder and bowel dysfunction often go undertreated, and the new registry will enhance clinical evidence supporting Axonics' innovative SNM therapy, improving quality of life for many.
Axonics Modulation Technologies (NASDAQ: AXNX) will release its third quarter 2020 financial results on November 4, 2020, after market close. A conference call will follow at 4:30 PM ET, accessible via phone and webcast. Axonics specializes in implantable sacral neuromodulation devices for urinary and bowel dysfunction, impacting millions in the U.S. and Europe. Their SNM therapy has proven effective in restoring pelvic floor function and has wide reimbursement support. The company is known for its first long-lived rechargeable SNM system, now widely available at medical centers.
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