Silk Road Medical Archives - Medical Design Sourcing

Silk Road Medical launches new transcarotid stent in the U.S.

The EnRoute transcarotid stent system. [Image from Silk Road Medical]Silk Road Medical (Nasdaq:SILK) announced today that it launched its tapered EnRoute transcarotid stent system in the U.S.

Sunnyvale, California-based Silk Road says this expands upon the prior launch of its EnRoute system by adding additional configurations. It better tailors the transcarotid artery revascularization (TCAR) procedure to the patient anatomy. TCAR, a minimally invasive procedure, provides stroke protection while minimizing adverse events.

According to a news release, EnRoute marks the only commercially available transcarotid stent system indicated for patients at high risk and standard risk for adverse events from carotid endarterectomy (CEA).

Silk Road Medical designed EnRoute with an optimized cell design. This balances lesion coverage and anatomical conformability for long-term plaque stabilization. The company made it purpose-built for TCAR with a short delivery system …

Silk Road Medical names a new CEO

Chas McKhann [Image from LinkedIn]Silk Road Medical (Nasdaq:SILK) announced today that it appointed Chas McKhann as its new CEO, effective immediately.

Located in Sunnyvale, California and Plymouth, Minnesota, Silk Road Medical is focused on reducing stroke risk through a carotid artery disease treatment called TransCarotid Artery Revascularization (TCAR). The company announced last month that CEO Erica Rogers intended to retire. She will continue serving as an advisor to the board.

The company’s plan included Rogers formally retiring once Silk Road completed the succession process. The company enlisted executive search firm Spencer Stuart to help find a replacement CEO. It now has a successor to the CEO who held the corner office for 11 years: Chas McKhann.

“Chas is a skilled and experienced leader with a track record of effectively building and scaling medical device businesses into underpenetrated markets. We are excited to welcome him to Silk Road…

Silk Road Medical CEO announces retirement

[Image courtesy of Silk Road Medical]Silk Road Medical (Nasdaq:SILK) today announced that CEO Erica Rogers plans to retire from the company.

Rogers will formally retire once the succession process is completed. The Sunnyvale, California-based company is working with executive search firm Spencer Stuart to find a replacement CEO.

“I’d like to thank Erica for her tremendous contributions to Silk Road over the last 11 years. Erica has been integral in leading and expanding the company’s strong operational infrastructure and commercial enterprise and driving a significant expansion of the use of Transcarotid Artery Revascularization (TCAR) and its impact on patients. She also has created an enduring, mission-focused culture at Silk Road, setting the Company apart,” Silk Road Chair Jack Lasersohn said in a news release. “The Silk Road Medical senior leadership team and Board of Directors are well-prepared for Erica’s transition. We plan to work closely together to ensu…

Medtech Big 100: These companies just missed the list

Each year, it takes more and more revenue to make our Medtech Big 100 ranking of the world’s largest medical device companies.

This year’s No. 100 — Artivion (formerly CryoLife) — secured the final spot in our ranking with revenue of $313.8 million.

Last year, $236.2 million was enough to get Cardiovascular Systems (now part of Abbott) onto the Medtech Big 100 company ranking at No. 100.

Companies on the bubble in recent years have made their way onto the Medtech Big 100. For example, Inspire Medical Systems missed the list by a single spot last year, but made No. 94 in our new ranking.

With that in mind, here are the companies that would have ranked Nos. 101 to 105 on this year’s list. Watch out for them in future versions of the Medtech Big 100.

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Silk Road Medical ticks up on Street-beating Q3 results

Silk Road Medical (NSDQ:SILK) this week posted third-quarter results that beat the overall consensus on Wall Street.

The Sunnyvale, California-based stroke treatment tech company reported net losses of $10.3 million, or -29¢ per share, on sales of $37.4 million for the three months ended Sept. 30, on sales growth of 51.31% and profit gain from net losses of $13.9 million in Q3 2021.

Earnings per share were 14¢ ahead of The Street, where analysts were looking for sales of $33.64 million.

“Our performance in the third quarter reflects broad-based U.S. TCAR strength as we capitalize on the operational infrastructure our team has worked so hard to establish,” CEO Erica Rogers said in a news release. “This is the first time in over seven decades that the carotid artery disease market has experienced a level playing field for a minimally invasive approach with open surgery. With TCAR now available to all eligible patients, we have cemented the foundation to es…

Silk Road Medical announces $100M offering

Silk Road Medical (NSDQ:SILK) announced that it commenced a proposed underwritten public offering of $100 million in common stock.

The Sunnyvale, California–based stroke treatment tech company plans to use proceeds to expand its sales force and operations. It also intends to increase its R&D activities, conduct or sponsor clinical trials and lease new facilities. Silk Road wants to expand internationally, too, while additional funds may go toward working capital and other corporate purposes.

Silk Road said in a news release that it plans to grant underwriters a 30-day option to purchase additional shares. That option allows underwriters to purchase common stock in an amount of up to 15% of the number of shares sold in the offering.

The company said the offering is subject to market and other conditions. It offered no assurance as to whether it may complete the offering and no guarantee of the actual size or terms of it.

Silk Road said it also …

Silk Road Medical grows sales 27% in Q1 results

Silk Road Medical (NSDQ:SILK) this week posted first-quarter results that beat the revenue consensus on Wall Street and missed on earnings.

The Sunnyvale, California-based stroke treatment tech company reported losses of $16.7 million, or -48¢ per share, on sales of $28.02 million for the three months ended March 31 for sales growth of 27% compared with Q1 2021.

Earnings per share were 11¢ behind The Street, where analysts were looking for sales of $28.02 million.

“We demonstrated strong execution in the first quarter and remain confident in our ability to drive further TCAR adoption, supplemented by our recent FDA approved label expansion for our stent to include standard surgical risk patients,” CEO Erica Rogers said in a news release. “This approval levels a playing field once dominated by open surgery, allowing an expanded patient population to benefit from our less invasive approach as we establish TCAR as the new standard of care in stroke preventi…

Silk Road Medical grows sales 33% in Q4

Silk Road Medical (NSDQ:SILK) this week posted fourth-quarter results that beat the revenue consensus on Wall Street and missed on earnings estimates.

The Sunnyvale, California-based stroke treatment company reported losses of -$14.7 million, or -42¢ per share, on sales of $28.3 million for the three months ended Dec. 31, 2021, for a bottom-line gain of 12.3% on sales growth of 33.75% compared with Q4 2020.

Earnings per share were 42¢, 7¢ behind The Street, where analysts were looking for sales of $25.91 million.

“Our team and physicians had a tremendous impact in 2021, performing nearly 14,000 cases and driving record annual revenue of $101.5 million,” president and CEO Erica Rogers said in a news release. “We drove measurable progress on regulatory and clinical fronts in anticipation of standard surgical risk approval in the U.S., entry into Japan and China, and development of our long-term pipeline, and we are well-positioned to continue establishing …