Dexcom G7 Monitor Shows Significant Blood Sugar Reduction in Non-Insulin Type 2 Diabetics
DXCM sits 32% above its 52-week low of $54.11.
Summary
Dexcom's G7 continuous glucose monitor demonstrated significant benefits in a 26-week study of non-insulin dependent Type 2 diabetic patients. Participants using the G7 saw an average 1.6% reduction in blood sugar levels, a 0.9% greater reduction than those using self-monitoring. This positive clinical data is crucial as it could lead to an expansion of the standard of care and insurance coverage for CGMs to a much larger patient population, substantially increasing Dexcom's addressable market. The company expects this to influence both the clinical community and payers. A six-month extension phase of the study is currently underway.
At the time of this announcement, DXCM was trading at $71.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $28.1B. The 52-week trading range was $54.11 to $89.98. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.