A host of high-profile private companies hit Wall Street this year, debuting across various prominent sectors. These “unicorns,” Wall Street’s term for a fast-growing startup company, definitely have the potential to make it big, given their impressive journey since their initial public offerings (IPOs).
Let us, thus, take a look at some of the best IPOs that took investors aback with their performance.
Silk Road Medical, Inc SILK is a medical device company. The Sunnyvale, CA-based company is focused on decreasing the risk of stroke and its distressing impact.
Offer Date: Apr 4, 2019
IPO Price: $20
Silk Road Medical’s share prices have been up 10.1% since its debut on Apr 4, settling at $39.82 at the end of Dec 24. The company sold 6 million shares at $20 (the top of its pricing range), raising about $120 million before deducting underwriting discounts and commissions and other offering expenses.
The stock has witnessed demand because of rising adoption of transcarotid artery revascularization process for the treatment of carotid artery disease and could continue to do so ahead. Silk Road Medical carries a Zacks Rank #3.
Read More: https://www.nasdaq.com/articles/5-best-performing-ipos-of-2019-2019-12-26
Silk Road Medical shares are up in afternoon trading after the company announced last night that "positive" results from the ongoing TransCarotid Artery Revascularization, or TCAR, Surveillance Project comparing TCAR and transfemoral carotid artery stenting, or TF-CAS, were published in The Journal of the American Medical Association, or JAMA. The study evaluated patients who underwent carotid procedures between 2016 and 2019, with 5,251 patients receiving TCAR compared to 6,640 patients receiving TF-CAS, with 3,286 patients in each group analyzed using propensity score matching. TCAR was associated with significantly lower rates of in-hospital stroke or death as well as the individual rates of stroke and death, the company stated. Additionally, there were no statistical differences noted between TCAR and TF-CAS for in-hospital myocardial infarction, according to Silk Road. "These results showed a significantly lower risk of stroke or death for TCAR versus TF-CAS and further contribute to the groundswell of clinical evidence showing the benefits of TCAR. I am confident that the growing evidence base coupled with publication of these data in JAMA, a peer-reviewed journal, will incrementally drive TCAR towards standard of care," Dr. Schermerhorn of Beth Israel Deaconess Medical Center was quoted as having said in the company's press release. In afternoon trading, Silk Road Medical shares are up $1.99, or 5.5%, to $38.01.
Silk Road Medical (SILK) Announces Results Demonstrating Favorable Outcomes with TCAR vs. TF-CAS in Patients with Carotid Artery Stenosis Published in JAMA
Silk Road Medical, Inc. (Nasdaq: SILK), a company focused on reducing the risk of stroke and its devastating impact, today announced that positive results from the ongoing TransCarotid Artery Revascularization (TCAR) Surveillance Project comparing TCAR and transfemoral carotid artery stenting (TF-CAS) have been published in The Journal of the American Medical Association (JAMA).
Via: PR Newswire
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