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PROCEPT BioRobotics Corporation - PRCT STOCK NEWS

Welcome to our dedicated page for PROCEPT BioRobotics Corporation news (Ticker: PRCT), a resource for investors and traders seeking the latest updates and insights on PROCEPT BioRobotics Corporation stock.

PROCEPT BioRobotics Corporation (PRCT) is a Silicon Valley-based surgical robotics company that focuses on advancing patient care by developing innovative solutions in the field of urology. The company’s flagship product, the AquaBeam Robotic System, is an advanced, image-guided surgical robot designed for minimally invasive urologic surgery. Initially targeting benign prostatic hyperplasia (BPH), AquaBeam delivers Aquablation therapy, a unique heat-free waterjet solution that offers predictable and reproducible outcomes regardless of prostate size or surgeon experience.

PROCEPT BioRobotics has made significant strides in the medical field with its AquaBeam Robotic System. The system autonomously removes tissue to treat BPH effectively and safely, allowing for consistent results. The company's commitment to improving patient outcomes is supported by a substantial body of clinical evidence, including nine studies and over 150 peer-reviewed publications.

In recent financial results, PROCEPT BioRobotics showcased strong growth. For the third quarter of 2023, the company reported a revenue of $35.1 million, a 72% increase from the previous year. U.S. revenue alone constituted $32.3 million, driven by increased handpiece and system sales to new hospital customers. The gross margin also improved to 54%, reflecting better operational and manufacturing efficiencies. Despite a net loss of $24.6 million, the company remains optimistic about its long-term growth prospects, evidenced by robust capital pipelines and successful equity financing.

The company's product, Aquablation therapy, continues to garner attention and acclaim. Recent presentations at significant urology conferences, including the American Urological Association (AUA) Annual Meeting, have highlighted the therapy's safety, efficacy, and potential to become the standard of care for BPH globally.

Financially, PROCEPT BioRobotics ended the third quarter of 2023 with $287.1 million in cash and short-term investments, positioning them well for future growth and development. The company also completed an equity financing to further bolster its financial standing and received IDE approval to explore the use of Aquablation therapy for prostate cancer.

Through partnerships and collaborations with leading medical institutions, PROCEPT BioRobotics continues to expand its reach and impact. Their focus on innovation, combined with a strong financial foundation, positions the company as a leader in surgical robotics within the urology sector.

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Sonder Capital appoints Kate Garrett as Managing Partner, with Co-founders assuming Co-chair roles as the firm closes its second early stage fund, Sonder Futures II. Garrett brings extensive experience and success in healthcare innovation, leading the firm into its next growth phase.
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PROCEPT BioRobotics Corporation (PRCT) reports strong financial results for 2023 with total revenue of $136.2 million, an increase of 82% compared to 2022. The company issued a revenue guidance of $210 million for 2024, showcasing a positive growth trajectory.
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PROCEPT BioRobotics® (PRCT) to present at the 44th Annual TD Cowen Health Care Conference in Boston. The management will present on March 5, 2024, at 12:50 p.m. Eastern Time. A live webcast and archived recording will be available on the company's website.
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PROCEPT BioRobotics Corporation (PRCT) Reports Strong Revenue Growth in Q4 2023, Expects 81-82% Increase in Fiscal Year 2023 Revenue
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Neptune Medical (Ticker: NPTM) appoints Dr. Fred Moll, a renowned figure in the medical technology industry, as Chairman of the Board. Dr. Moll, known as the father of medical robotics, brings extensive experience from his roles at Sonder Capital, Intuitive Surgical, and Auris Health. His appointment signifies Neptune Medical's commitment to advancing healthcare technology.
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PRCT - PROCEPT BioRobotics to Present at 35th Annual Piper Sandler Healthcare Conference in New York City
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PROCEPT BioRobotics reports unaudited financial results for Q3 2023, with total revenue of $35.1 million, a 72% increase YoY. U.S. handpiece and consumables revenue reached $17.0 million, up 113% YoY. Monthly account utilization increased by 5% compared to Q2 2023. The company sold 38 U.S. robotic systems, with robotic system and rental revenue of $13.5 million, up 37% YoY. Fiscal year 2023 total revenue guidance raised to $133.5 million. PROCEPT BioRobotics also completed an equity follow-on offering, raising $162 million in net proceeds, and received FDA IDE approval for Aquablation Therapy for Prostate Cancer.
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PROCEPT BioRobotics to report Q3 2023 financial results
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PROCEPT BioRobotics receives strong endorsement from NICE for Aquablation therapy
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PROCEPT BioRobotics announces grand opening of global corporate headquarters in San Jose
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FAQ

What is the current stock price of PROCEPT BioRobotics Corporation (PRCT)?

The current stock price of PROCEPT BioRobotics Corporation (PRCT) is $90 as of October 31, 2024.

What is the market cap of PROCEPT BioRobotics Corporation (PRCT)?

The market cap of PROCEPT BioRobotics Corporation (PRCT) is approximately 4.5B.

What does PROCEPT BioRobotics do?

PROCEPT BioRobotics develops innovative surgical robotic systems focused on urology, particularly its AquaBeam Robotic System for minimally invasive treatment of benign prostatic hyperplasia (BPH).

What is Aquablation therapy?

Aquablation therapy is a minimally invasive, image-guided robotic procedure that uses a heat-free waterjet to remove prostate tissue, offering predictable outcomes regardless of prostate size or surgeon experience.

How did PROCEPT BioRobotics perform financially in the recent quarter?

For the third quarter of 2023, PROCEPT BioRobotics reported a revenue of $35.1 million, marking a 72% increase compared to the prior year period.

What are the key advantages of Aquablation therapy?

Aquablation therapy offers safe, effective, and durable outcomes for BPH treatment, maintaining sexual function and continence while providing consistent results independent of prostate size or surgeon experience.

What recent achievements has PROCEPT BioRobotics made?

The company saw an acceleration in monthly utilization and strong U.S. system sales, alongside successful equity financing and IDE approval to explore Aquablation therapy for prostate cancer.

How many AquaBeam Robotic Systems are installed in the U.S.?

As of September 30, 2023, there were 271 AquaBeam Robotic Systems installed in the U.S.

What is the financial outlook for PROCEPT BioRobotics?

The company is optimistic about its long-term growth and has a strong financial position with $287.1 million in cash and short-term investments as of September 30, 2023.

How does PROCEPT BioRobotics support its products?

PROCEPT BioRobotics backs its products with substantial clinical evidence, including over 150 peer-reviewed publications, and continuous research and development initiatives.

What are the core products of PROCEPT BioRobotics?

The core product is the AquaBeam Robotic System, which delivers Aquablation therapy, a minimally invasive solution for treating benign prostatic hyperplasia (BPH).

Who are the key partners of PROCEPT BioRobotics?

PROCEPT BioRobotics collaborates with leading medical institutions and urology experts to advance its research and expand the clinical applications of Aquablation therapy.

PROCEPT BioRobotics Corporation

Nasdaq:PRCT

PRCT Rankings

PRCT Stock Data

4.52B
52.18M
4.9%
86.94%
12.91%
Medical Devices
Surgical & Medical Instruments & Apparatus
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United States of America
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