The FDA granted Breakthrough Device Designation for DexCom Inc (NASDAQ:DXCM) for continuous glucose monitoring (CGM) use in the hospital setting.
- Dexcom CGM uses a small, wearable sensor and transmitter to continuously measure and send glucose levels wirelessly to a smart device, providing real-time glucose data without the need for fingersticks.
- The system also offers customizable alerts and alarms to help avoid potentially dangerous low and high blood sugar events.
- Related: DexCom Stock Falls As Q4 Profit, FY22 Sales Outlook Trail Wall Street Estimates.
- "During the COVID-19 pandemic, the FDA allowed Dexcom CGM to be used in hospitals to help health care providers manage patient glucose levels," said Gil Rivas, vice president, general manager of a hospital at Dexcom. "What started as a response during the pandemic has shown promise as a better alternative to fingerstick blood glucose tests with a greater quality of care and patient satisfaction."
- Price Action: DXCM shares closed 1.33% lower at $408.41 on Tuesday.
