ShockWave Medical Inc. (NASDAQ: SWAV) is a medical equipment developer that released its second-quarter earnings earlier this week. Quotes increased by more than 17% following news of triple-digit sales growth. SWAV closed at $277.41 on August 10, up 6.86%.
SWAV develops and commercializes intravascular lithotripsy technology, which is used to treat calcified plaque in patients with heart disease.
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The method’s essence is the employment of a specific probe that uses intense shock waves to remove calcifications in organs. ShockWave Medical Inc. (SWAV) has created catheters that have an inflated bladder and a tiny vaporizer.
The catheter is positioned near the calcification, and after applying voltage, the vaporizer generates a powerful yet local shock wave that shatters the deposits into minute fragments.
ShockWave Medical’s sales increased 116% year on year to $120.7 million in the second quarter. Earnings for the corporation were $25.6 million, or $0.68 per diluted share. In comparison, the firm posted a loss of $0.4 million in the same period last year.
Following a solid second quarter, ShockWave Medical Inc. (SWAV) management increased its sales forecast for the entire year 2022. The revised objective calls for sales to increase by nearly 100% year on year to $465-475 million.
It is worth noting that ShockWave Medical’s sales are increasing despite macroeconomic instability, confirming the company’s robust business. The debut of the Shockwave C2 solution in the United States last year accounted for a large portion of the growth.
ShockWave Medical Inc. (SWAV) now aims to begin selling equipment in China. This is another enormous market with a strong potential for innovative medicines. The business gained Chinese regulatory approval for several of its advancements in May.
Over the last year, the company’s share price increased by 60.68%. The stock price increased by 28.31% in the past five trades and by 43.68% in the last 30 trades. However, the share price climbed by 75.94% in the recent six months and by 105.41% in the prior three months.