On January 07, Shockwave Medical Inc. (SWAV) stock gained a huge 16.55% in the after-hours session. According to reports on Bloomberg, Penumbra Inc. is exploring a business combination with the company. Hence, the stock seems to be gaining on the reports.
SWAV closed the previous session at $169.02, suffering a loss of 4.89% at 581.35K shares. Following the unofficial reports, the stock soared after hours to reach $197.00 on Friday.
The medical device company, Shockwave Medical Inc. was founded in 2009 and is based in Santa Clara, CA. Currently, the company has a market capitalization of $5.97 billion with its 35.3 million shares outstanding.
SWAV Stock Movements
Penumbra Inc. is a medical device company, based in Alameda, CA, with 13 office locations across five countries. Moreover, Penumbra has a market capitalization of $9.508 billion. Further, Penumbra is said to be exploring combination opportunities with Shockwave Medical, as per reports on Bloomberg. These reports caused the SWAV stock to soar high in the after-hours on Friday. Hence, the stock added a huge $27.98 in the after-hours session.
To look at the bigger picture, SWAV stock has subtracted 5.22% in the past five days and 15.32% in the past three months. Furthermore, the stock has increased by 42.56% last year.
Disrupt BTK II Post-Market Study
On November 22, the company announced the commencing of Disrupt BTK II pots-market study. The study will evaluate the Shockwave Peripheral IVL System in the treatment of calcified peripheral lesions below the knee (BTK). Moreover, this will also include some of the most difficult critical limb ischemia (CLI) patients.
Disrupt BTK II is led by Ehrin Armstrong, M.D. (Medical Director and Interventional Cardiologist, Adventist Heart and Vascular Institute) and Venita Chandra, M.D. (Vascular Surgeon and Clinical Associate Professor, Division of Vascular Surgery, Stanford Health Care). Furthermore, 250 patients would be enrolled in the study across 40 sites throughout the world. In addition, the long-term durability of IVL will be tested and evaluated for two years in the patients.
According to the announcement, the first patient in the Disrupt BTK II trial has been enrolled at the Midwest Cardiovascular Research Foundation by Dr. Nicolas Shammas.
2022 Quarterly Earnings Release Dates
On January 04, the company provided its quarterly earnings release dates for 2022. Accordingly, the earnings are expected to be reported as per the following details (after the market close):
- Q4 2021: February 17, 2022
- Q1 2022: May 9, 2022
- Q2 2022: August 8, 2022
- Q3 2022: November 7, 2022
