Procept Biorobotics Corp Stock Price, News & Analysis

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced the installation of five AquaBeam Robotic Systems across Northside Health Systems in Georgia, marking a significant expansion of their surgical robotics program. The AquaBeam system utilizes heat-free waterjet technology for the treatment of benign prostatic hyperplasia (BPH), a common prostate disease affecting 40 million men in the U.S. The therapy aims to provide a safe and effective treatment option tailored to patients’ needs, enhancing access to innovative surgical techniques.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced preliminary unaudited revenues for Q4 and FY 2021, projecting revenue between $9.8 million and $10.1 million for Q4, up from <$3.2 million> in the previous year. Total FY 2021 revenue is expected to be between $34.1 million and $34.4 million, compared to <$7.7 million> in FY 2020. Revenue growth is attributed to increased sales of their AquaBeam Robotic System and successful adoption of Aquablation therapy. Full financial results will be released in March 2022.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced the appointment of Mary Garrett to its Board of Directors, increasing the board size to nine members. Ms. Garrett brings extensive experience, having previously served on the board of Hillrom Corporation and as Chief Marketing Officer for IBM Corporation. Her expertise in technology and organizational development is expected to benefit PROCEPT's growth in the urology market, especially with its AquaBeam Robotic System targeting benign prostatic hyperplasia (BPH), a condition affecting approximately 40 million men in the U.S.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) reported a strong third quarter 2021 with total revenue of $8.7 million, a significant increase from $2.1 million in Q3 2020. U.S. system revenue rose to $5.0 million from $0.6 million, while U.S. handpiece revenue reached $2.2 million compared to $0.5 million last year. The company completed its IPO, generating net proceeds of $172.4 million. Gross margin improved to 48.9% from -1% a year ago. Despite a net loss of $14.1 million, PROCEPT maintained a healthy cash position of $320.5 million.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has appointed Elisabeth Sandoval to its Board of Directors, expanding the board to nine members. Sandoval brings extensive experience from her roles at Alder Biopharmaceuticals and Allergan, emphasizing her commercial expertise in healthcare. CEO Reza Zadno stated that her background aligns with the company's strategies to enhance adoption of Aquablation therapy for treating benign prostatic hyperplasia (BPH). This therapy aims to revolutionize care for the 40 million men in the U.S. affected by BPH, supported by a strong body of clinical evidence.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) will report its third-quarter 2021 financial results on November 4, 2021, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET, accessible via phone or webcast. The company specializes in urological surgical robotics, focusing on the AquaBeam Robotic System, which treats benign prostatic hyperplasia (BPH), affecting approximately 40 million men in the U.S. PROCEPT has established a robust clinical foundation with nine studies and over 100 peer-reviewed publications supporting its Aquablation therapy.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced that Cigna will now cover Aquablation therapy for Benign Prostatic Hyperplasia (BPH), effective September 15, 2021. This decision enhances access to a proven treatment option for millions of Cigna members suffering from lower urinary tract symptoms (LUTS) due to BPH. CEO Reza Zadno emphasized that Aquablation therapy, which has demonstrated clinical efficacy irrespective of prostate size or shape, aligns with high-quality clinical data trusted by payors. Cigna joins Medicare and other private health plans in supporting this therapy.

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has successfully closed its upsized initial public offering of 7,539,400 shares at a price of $25.00 per share, generating approximately $188.5 million in gross proceeds. This offering included the full exercise of underwriters' options for an additional 983,400 shares. Shares began trading on the Nasdaq Global Market on September 15, 2021. The offering was managed by BofA Securities and Goldman Sachs, among others. PROCEPT focuses on innovative solutions in urology, particularly the AquaBeam Robotic System for treating benign prostatic hyperplasia (BPH).

PROCEPT BioRobotics Corporation (Nasdaq: PRCT) has priced its upsized initial public offering at $25.00 per share, raising total gross proceeds of $163.9 million. The offering consists of 6,556,000 shares, all sold by PROCEPT, with trading on the Nasdaq expected to begin on September 15, 2021. The offering is scheduled to close on September 17, 2021, pending customary conditions. Underwriters have a 30-day option to purchase an additional 983,400 shares. PROCEPT is focused on developing robotic solutions for urology, particularly the AquaBeam Robotic System for treating benign prostatic hyperplasia.