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MASON, Ohio - AtriCure, Inc. (NASDAQ:ATRC), a medical device company with a market capitalization of $1.55 billion and strong revenue growth of 15.79% over the last twelve months, announced Tuesday it has completed enrollment in its left atrial appendage exclusion for prophylactic stroke reduction (LeAAPS) clinical trial, reaching the target of 6,500 patients across 137 centers globally. According to InvestingPro data, the company maintains a healthy financial position with a current ratio of 4.11, indicating strong liquidity.
The trial, which began in January 2023, is evaluating the company’s AtriClip LAA Exclusion System for preventing ischemic stroke and systemic arterial embolism in cardiac surgery patients without a history of atrial fibrillation (Afib). With a gross profit margin of nearly 75% and operating with moderate debt levels, AtriCure appears well-positioned to support this significant clinical initiative.
This prospective, randomized study focuses on cardiac surgery patients without pre-existing Afib diagnoses, a population estimated at over one million patients annually. According to the company, more than 70% of cardiac surgery patients have no history of Afib before surgery.
"The LeAAPS trial is a bold clinical evidence initiative that demonstrates AtriCure’s unwavering commitment to improving care for cardiac surgery patients," said Michael Carrel, President and CEO of AtriCure, in the press release statement.
Dr. Richard Whitlock, Cardiothoracic Surgeon at McMaster University and Global Principal Investigator for the trial, noted, "LeAAPS aims to deliver definitive evidence to guide optimal care for high-risk patients without Afib who may benefit from LAA exclusion."
The trial is being conducted in collaboration with the Population Health Research Institute, affiliated with McMaster University in Hamilton, Ontario. Patients will be followed for five years to assess long-term outcomes.
AtriCure plans to use data from the trial to support an expanded indication for stroke prevention in patients at elevated risk of ischemic stroke. The company’s AtriClip devices, first cleared by the FDA in 2010, are currently the most widely used left atrial appendage management devices worldwide.
The company describes the LeAAPS trial as the largest cardiac surgery device trial ever conducted. With the next earnings report due on July 29, investors can access comprehensive analysis and additional insights through InvestingPro’s detailed research reports, which cover over 1,400 US stocks including AtriCure. The platform offers valuable metrics, Fair Value assessments, and expert analysis to help investors make informed decisions.
In other recent news, AtriCure Inc. reported its first-quarter 2025 earnings, exceeding expectations with an adjusted loss per share of $0.14, better than the forecasted loss of $0.22. The company achieved revenue of $123.6 million, slightly above the anticipated $123.08 million, marking a 13.6% year-over-year growth. AtriCure maintained its revenue outlook for the year, while raising its adjusted EBITDA guidance to $44-$46 million. Analysts from Needham revised their price target for AtriCure to $44, citing a contraction in peer multiples, though they maintained a Buy rating. JMP Securities, on the other hand, reaffirmed a $60 price target and a Market Outperform rating, highlighting progress in sustainable revenue growth driven by product development and clinical efforts. The company’s Pain Management segment saw a notable 39% year-over-year growth, while the Appendage Management segment benefited from the successful launch of the AtriClip Flex-Mini, contributing to a 19% growth. AtriCure also plans to introduce new products such as CryoXT for Pain Management and AtriClip PRO-Mini, which are anticipated to further bolster growth throughout 2025.
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