Dexcom Shares Rise After FDA Panel Vote
July 22 2016 - 10:30AM
Dow Jones News
DexCom Inc. shares rose Friday after a U.S. Food and Drug
Administration panel voted in favor of the company's proposed
non-adjunctive indication for a glucose-monitoring system.
The DexCom G5 continuous glucose-monitoring system reads glucose
every five minutes for those with Type 1 or Type 2 diabetes and
allows users to access the readings' data on their mobile devices,
according to the company's website.
DexCom said the panel's vote designated the new system as a
replacement for fingerstick glucose testing for diabetes treatment.
The vote supports a reasonable assurance that the system is safe
and effective, and that its benefits outweigh its risks.
"This recommendation is a big milestone for people with
diabetes," DexCom Chief Executive Kevin Sayer said in a statement.
Mr. Sayer thanked the panel members and public speakers and said
the medical-device manufacturer looks forward to continued
discussions with the FDA as it seeks approval of the system.
Dexcom shares recently traded at $87.25, up 3.1%. The company's
stock has gained 24% over the past three months.
Write to Brittney Laryea at brittney.laryea@wsj.com
(END) Dow Jones Newswires
July 22, 2016 10:15 ET (14:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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