Diabetes-device making giant Dexcom has seen a productive year so far, winning reimbursements for its latest-generation continuous glucose monitor from the Centers for Medicare and Medicaid Services in January and topping expectations with its 4th quarter and full fiscal year 2016 earnings.
The company has seen shares rise approximately nearly 42%, beginning the year at $59.70 and closing at $84.73 on March 31.
Dexcom’s most recent offering is the G5 continuous glucose monitoring system, which the company touts as the 1st approved such system to communicate directly with smartphones without a receiver.
The device won expanded FDA approval late last year. FDA cleared the device as a non-adjunctive device for diabetes treatment, which the company said made it the 1st CGM system which could make daily diabetes treatment decisions without requiring a finger prick at each reading.
The company has also inked partnerships with major developers looking to crack the artificial pancreas, including Bigfoot Biomedical and Tandem Diabetes.