Axonics Shares Fall Despite Australia's Approval for R20 SNM Device
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 27 2024
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Source: Benzinga
Regulatory Approval: Axonics, Inc. has received approval from the Therapeutic Goods Administration to market its R20 rechargeable sacral neuromodulation system in Australia, which offers a 20-year lifespan and reduced recharge frequency, enhancing incontinence care.
Market Outlook: Despite a slight decline in stock price following the news, Axonics is positioned well in the growing global neuromodulation devices market, projected to reach $10.4 billion by 2030, driven by increasing prevalence of lifestyle diseases and neurological disorders.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
