Key Developments For DexCom, Inc.
DexCom, Inc. (DXCM.O) (Consolidated Issue listed on NASDAQ Global Market)
Edwards Lifesciences Corporation and DexCom, Inc. Announce Receipt Of CE Mark For Glucose Monitoring System
Edwards Lifesciences Corporation and DexCom, Inc. announced the receipt of CE Mark for an automatic glucose monitoring system. Edwards and DexCom co-developed this new system, which is indicated for automatic, real-time monitoring and trending of blood glucose concentration in critically ill adults in the hospital environment. This CE Mark allows for commercialization of the system in the European Union and the countries in Asia and Latin America that recognize the CE Mark. Market evaluations of a first generation product are expected to begin in a limited number of European sites before the end of the year. Studies have shown that hospitalized patients can be at a higher risk of infection and other complications if their blood glucose level is elevated for prolonged periods. Currently, clinicians manage patients' glucose levels by manually obtaining intermittent samples over various periods of time. Methods for obtaining blood samples can be labor intensive and may not provide complete information about a patient's glucose status. This glucose monitoring system will perform multiple automatic readings per hour that may provide a new level of trending insight designed to enable clinicians to effectively implement glycemic control.
DexCom, Inc. Receives CE Mark Approval for SEVEN PLUS Continuous Glucose Monitoring System
DexCom, Inc. announced that it has received CE Mark (Conformité Européene) approval for the SEVEN PLUS continuous glucose monitoring system, enabling commercialization of the system in the European Union and the countries in Asia and Latin America that recognize the CE Mark.
DexCom, Inc. Amends Collaboration Pact With Edwards Lifesciences Corporation-DJ
Dow Jones reported that DexCom, Inc. said Edwards Lifesciences Corporation's development funding obligation to DexCom, Inc. under a collaboration agreement will be reduced by $1.5 million through an amendment to the pact. The San Diego medical-device company said under the pact, DexCom's development obligations include, among other things, completion of clinical trials for the first-generation product under development to support an application for regulatory approval, according to a Securities and Exchange Commission filing. DexCom, Inc. said the reduction of $1.5 million is the amount estimated to complete the relevant portion of the clinical trials.
DexCom, Inc. Announces Closing of Public Offering of Common Stock
DexCom, Inc. announced public offering of 15,844,000 shares of its common stock at a price of $3.00 per share. In addition, Terrance H. Gregg, DexCom`s President and Chief Executive Officer, also purchased 150,000 additional shares of common stock in this offering at a price per share of $3.12, which represents the last reported bid price on the NASDAQ Global Market of DexCom`s common stock on January 29, 2009. The gross proceeds to DexCom, before expenses, from the sale of the shares were $48 million. Piper Jaffray & Co. acted as sole manager for the offering.
DexCom, Inc. Announces Pricing of Public Offering of Common Stock
DexCom, Inc. announced the offering of 15,844,000 shares of its common stock at a price to the public of $3.00 per share. Terrance H. Gregg, DexCom's President and Chief Executive Officer, is also purchasing 150,000 additional shares of common stock in this offering at a price per share of $3.12, which represents the last reported bid price on the NASDAQ Global Market of DexCom's common stock on January 29, 2009. The gross proceeds to DexCom, before expenses, from the sale of shares are expected to be $48 million. The closing of the offering is expected to take place on February 4, 2009. Piper Jaffray & Co. acted as sole manager for the offering.
