Silk Road Medical Stock Price, News & Analysis

Silk Road Medical (SILK) reported second-quarter 2020 revenues of $15.1 million, a 1% increase year-over-year, although underlying revenue declined by 8%. The company faced significant challenges due to COVID-19, with procedure volumes hitting lows in April before recovering in May and June. Gross profit fell to $9.8 million with a gross margin of 65%, down from 75% in the prior year. Operating expenses rose by 11% to $19.2 million, contributing to a net loss of $10.4 million. The company's cash position remains strong at $157.9 million.

Silk Road Medical, Inc. (NASDAQ: SILK) will release its Q2 2020 financial results on August 5, 2020, after market close. Management will hold a conference call at 2:00 p.m. PT to discuss the results. Investors can participate by calling (844) 883-3861 domestically or (574) 990-9820 internationally, using conference ID: 3681776. A live and archived webcast will be available on the company’s investor relations website. Silk Road focuses on reducing stroke risk through its flagship TransCarotid Artery Revascularization (TCAR) procedure.

Silk Road Medical (NASDAQ: SILK) has announced the promotion of Andrew Davis to Chief Commercial Officer. Davis, who joined the company in 2015, has driven significant growth, leading to over $125 million in cumulative revenue and expanding the sales team to over 100 members. His new role will involve overseeing global commercialization efforts and setting strategic goals for the company. With over 20 years of experience, Davis previously held leadership roles at Acelity and Medtronic, underscoring his capabilities to advance Silk Road Medical's market presence.

Silk Road Medical (Nasdaq: SILK) announced the release of a clinical competence statement on training for TransCarotid Artery Revascularization (TCAR), published in the Journal of Vascular Surgery. The statement includes three credentialing pathways for physicians to safely perform TCAR, aligning with Silk Road's training program. As of December 31, 2019, over 1,440 physicians have completed their training. The updated guidelines emphasize TCAR's safety, with low stroke and death rates shown in recent studies, underscoring its broad applicability in clinical practice.

Silk Road Medical (NASDAQ: SILK) announced a public offering of 6,808,154 shares, with underwriters fully exercising their option to buy an additional 1,021,223 shares at $39.00 each. The offering, managed by J.P. Morgan and BofA Securities, followed an automatic shelf registration effective May 5, 2020. Silk Road Medical did not receive proceeds from the additional shares sold by securityholders. The company specializes in reducing stroke risk, with its key procedure, TransCarotid Artery Revascularization (TCAR), clinically proven to treat carotid artery blockages.

Silk Road Medical (Nasdaq: SILK) announced the closing of a public offering of 6,808,154 shares at a price of $39.00 per share, generating approximately $75 million in gross proceeds. Of these, 1,923,076 shares were sold by the company, while 4,885,078 shares were offered by selling stockholders. Additionally, underwriters have a 30-day option to purchase an extra 1,021,223 shares. The offering was made under an automatic shelf registration effective May 5, 2020, with J.P. Morgan and BofA Securities as joint book-running managers.

Silk Road Medical (Nasdaq: SILK) has announced a public offering of 6,808,154 shares at a price of $39.00 per share, targeting approximately $75 million in gross proceeds. Of the shares, 1,923,076 are being sold by the company and 4,885,078 by selling securityholders. An additional 1,021,223 shares may be purchased by underwriters. Proceeds will fund sales force expansion, research, clinical trials, and general corporate purposes. The offering is set to close on May 8, 2020, pending closing conditions.

Silk Road Medical, Inc. (NASDAQ: SILK) announced a proposed underwritten public offering of $100 million in common stock, with $75 million from the company and $25 million from selling securityholders. The underwriters have a 30-day option to purchase an additional 15% of the shares. Proceeds will primarily fund sales force expansion, R&D activities, and international growth. There are no current agreements for acquisitions or debt repayment. This offering is under an automatic shelf registration effective May 5, 2020.