Silk Road Medical traded its first shares this morning on Nasdaq: (SILK).
The medical device company is focused on reducing the risk of stroke by treating carotid artery disease – a condition that affects more than 4 million people in the U.S. and is estimated to be the primary cause of up to one-third of strokes. Stroke is one of the most catastrophic, debilitating and costly conditions worldwide, and the company believes the best way to mitigate the mortality, morbidity and cost burden of strokes is to prevent them in the first place. Clinical evidence has demonstrated that with proper diagnosis and treatment, stroke due to carotid artery disease is mostly preventable.
The company has pioneered an entirely new, minimally invasive procedure – TransCarotid Artery Revascularization, or TCAR – to treat carotid artery disease. TCAR has the potential to become the standard of care, and Silk Road Medical is the only player in the TCAR market with products having transcarotid FDA labeling.
TCAR addresses an unmet clinical need because the current treatment options have reported higher risks of stroke or procedure-related adverse events. Becoming a publicly traded company will help expand commercialization efforts and increase adoption of TCAR using the company’s products, improve reimbursement for TCAR, and enable development of additional products to treat other vascular disease states.
Erica Rogers, who has been at the helm of Silk Road Medical as president and CEO since 2012, rang today’s NASDAQ Closing Bell in celebration of today’s IPO. Erica has a unique leadership style – she does a cartwheel every day and has built an engaging and successful business culture based on the behaviors and mindset needed to do a cartwheel, such as core strength, flexibility and courage. Rumor has it she may even perform one of her legendary cartwheels at the Closing Bell Ceremony.