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Silk Road Medical's (SILK) New Launch to Aid Its TCAR Portfolio

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Silk Road Medical, Inc. (SILK - Free Report) recently announced the launch of its ENROUTE Transcarotid Neuroprotection System PLUS (NPS PLUS), which is a key component of the company’s Transcarotid Artery Revascularization (TCAR) portfolio.

By improving the previous ENROUTE Transcarotid Neuroprotection System, this next-generation device offers superior neuroprotection during the TCAR procedure, along with smoother arterial sheath insertion, increased flow precision, and a more straightforward prep experience for surgical teams.

Price Performance

In the past six months, SILK’s shares have gained 25.8% compared with the industry’s rise of 20.6%. The S&P 500 has gained 19.7% in the same time frame.

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More on TCAR With the ENROUTE Transcarotid NPS

TCAR is a clinically validated method that treats carotid artery blockages that may cause a stroke by combining minimally invasive endovascular techniques with surgical concepts of neuroprotection. When combined with the ENROUTE Transcarotid NPS during the TCAR operation, the ENROUTE Transcarotid Stent is meant to be used in patients who are at standard risk and high risk for complications from carotid endarterectomy (CEA).

Direct carotid artery access combined with strong blood flow reversal is what makes TCAR a less intrusive, more patient-friendly method of treating carotid artery disease while yet offering neuroprotection comparable to open surgical procedures. The surgical team uses TCAR to temporarily reverse blood flow by inserting a tube-like sheath into the carotid artery and connecting it to the ENROUTE Neuroprotection System.

While the team opens the artery and confines the carotid artery disease with a balloon and stent designed specifically for TCAR patients, the device removes potentially hazardous material from the blood to lower the chance of an intraprocedural stroke. Compared to open surgery, TCAR offers a better recovery experience for patients and periprocedural stroke rates of less than 1%.

The ENROUTE Transcarotid NPS is a first-of-its-kind device that is used to deliver and implant the ENROUTE Transcarotid Stent while directly accessing the common carotid artery and starting high-rate temporary blood flow reversal to protect the brain from stroke. With the launch of the NPS PLUS, the TCAR portfolio is likely to further streamline and strengthen.

Industry Prospects

Per a report by Grand View Research, the global carotid artery stents market size was valued at $559.7 million in 2021 and is expected to witness a CAGR of 3% from 2022 to 2030.

The rising prevalence of cardiovascular diseases, such as stroke, ischemic stroke, and transient ischemic attack, is driving demand for carotid artery stenting procedures that require stents, which is the major factor anticipated to fuel the market growth.

Given the market potential, Silk Road Medical’s new product launch is likely to boost the company’s business and generate additional revenues.

Notable Developments

In March 2024, Silk Road Medical announced the launch of its Tapered ENROUTE Transcarotid Stent System in the United States, which is indicated for patients at high risk and standard risk for adverse events from CEA. With the launch, the company built on its previous ENROUTE Transcarotid Stent System, providing more configuration options to better fit patient anatomy and facilitate TCAR.

Zacks Rank & Stocks to Consider

SILK carries a Zacks Rank #3 (Hold) at present.

Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Cencora, Inc. (COR - Free Report) .

DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.

DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.

Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.

Cardinal Health has gained 51.9% compared with the industry’s 3.2% rise in the past year.

Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.

Cencora’s shares have surged 51.5% compared with the industry’s 3.6% rise in the past year.

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