It has been a rollercoaster ride for Silk Road Medical Inc [NASDAQ: SILK] since its IPO. The gained significantly after the IPO, hit resistance at $50, and dropped back below its IPO price. However, since mid-October it has regained bullish momentum.
Its current positive sentiment is driven by an announcement of its presentation on a treatment for carotid artery disease. In the presentation that was done at the University of California, San Diego School of Medicine, the company gave updates of their transcarotid artery revascularization (TCAR) surveillance project.
According to the company, this treatment continues to record positive results in tests. Dr. Malas of the University of California stated that, the treatment has recorded lower levels of cranial nerve injury and myocardial infarction. He also added that this treatment has the potential to become the standard for treating carotid artery disease.
Still on this treatment, the company CEO, Erica Rogers stated that the TCAR surveillance project validates the potential for these results to be reproduced. Erica also added that, these outcomes are moving closer to making TCAR a safe option for preventing stroke.
Since the company announced that it would be doing a presentation on this treatment 20-days ago, it has been on a bullish trend as seen below. The stock has established a defined uptrend and has made two high lows since Mid-October. In the day, it is up by 2.66%. However, volumes are relatively low at the moment, and stand at 135.03k.
About Silk Road Medical Inc
Silk Road Medical Inc is an American medical devices company. The company provides the ENROUTE Transcarotid Neuroprotection System. This system is used in accessing carotid artery and also trigger temporary blood flow reversal. The company also offers a number of other services including those that help in accessing the carotid artery. Silk Road Medical Inc has its headquarters in Sunnyvale, California.