Procept Biorobotics Corp Stock Price, News & Analysis

PROCEPT BioRobotics (Nasdaq: PRCT) and Providence have formed a multi-system national contract for the acquisition of AquaBeam Robotic Systems, enhancing patient care in urology. As of June 30, 2022, Providence had seven AquaBeam systems installed in California and Texas. Doctor Richard Shapiro emphasized that Aquablation therapy offers long-term symptom relief for men with benign prostatic hyperplasia. PROCEPT aims to accelerate adoption of Aquablation therapy, prioritizing patient safety and effectiveness by using advanced robotic technology for precise prostate treatment.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has announced its participation in the 2022 Wells Fargo healthcare conference, with management scheduled to present on September 7 at 9:10 a.m. Eastern Time. The event will be available via live webcast on the company’s website, offering an archived recording for at least 90 days post-event. PROCEPT focuses on advancing patient care through innovative surgical robotics, particularly with its AquaBeam Robotic System aimed at treating benign prostatic hyperplasia, impacting about 40 million men in the U.S.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) reported Q2 2022 results showing a 97% year-over-year revenue increase to $16.7 million, driven by strong U.S. sales. System revenue reached $8.5 million (+79%), while handpiece sales surged 246% to $5.7 million. The company raised its 2022 revenue guidance to $66-$68 million (91%-97% growth). However, net loss grew to $19.2 million from $14.6 million in the prior year. Operating expenses increased to $26.4 million, reflecting expansion efforts. Cash reserves stand at $269.8 million.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced it will release its financial results for the second quarter of 2022 on August 4, 2022, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. Investors can listen through a webcast or by registering for a call. PROCEPT focuses on surgical robotics and advanced solutions in urology, particularly for treating benign prostatic hyperplasia (BPH). The company highlights its AquaBeam Robotic System and significant clinical evidence supporting its Aquablation therapy.

PROCEPT BioRobotics (Nasdaq: PRCT) announced on June 9, 2022, that five regional private insurance plans have begun providing positive coverage for Aquablation therapy, treating benign prostatic hyperplasia (BPH). This includes three Blue Cross Blue Shield healthcare plans and covers approximately 8.5 million members. Key plans include Highmark (4.5 million members), BCBS of Minnesota (2.1 million members), and Medical Mutual (1.1 million members). CEO Reza Zadno stated these decisions reflect strong clinical support for Aquablation therapy, enhancing patient access to this effective treatment.

PROCEPT BioRobotics reported first-quarter 2022 revenues of $14.2 million, a 97% increase year-over-year. U.S. system and rental revenue reached $7.8 million, up 70%, while handpiece and consumables revenue surged 174% to $4.4 million. The company raised its full-year revenue guidance to $58 million to $62 million, reflecting 68% to 80% growth. Operating expenses rose to $23.4 million, resulting in a net loss of $17.2 million. Cash and short-term investments stood at $284.3 million. The AQUABEAM Robot received regulatory approval in Korea and Japan.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced on April 28, 2022, that Aetna US Healthcare has updated its coverage policy to positively include Aquablation therapy for Benign Prostatic Hyperplasia (BPH) treatment, effective April 26, 2022. Additionally, Independence Blue Cross Blue Shield extended its coverage to include Aquablation therapy for approximately 4 million members, starting April 25, 2022. The CEO highlighted the growing adoption of Aquablation therapy, which now has five of the seven largest U.S. commercial payors approving its coverage.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) will report its first-quarter 2022 financial results on May 5, 2022, after market close. The company focuses on urological solutions, primarily with its AquaBeam Robotic System, which offers effective treatment for benign prostatic hyperplasia (BPH). The management will hold a conference call at 1:30 p.m. PT for investors. A recording will be accessible on the company’s website for 90 days. Additionally, PROCEPT will participate in the Bank of America Healthcare Conference on May 11, presenting at 2:00 p.m. PT.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced an in-person investor event on May 13, 2022, during the American Urology Association Annual Meeting in New Orleans. The event will feature insights from the executive team and a surgeon panel discussing the AquaBeam Robotic System. PROCEPT's AquaBeam technology focuses on treating benign prostatic hyperplasia (BPH), a condition affecting around 40 million men in the U.S. The company has established a robust clinical evidence base, comprising nine studies and over 100 peer-reviewed publications supporting Aquablation therapy outcomes.