DexCom Shares Up 4% After FDA Approval of Continuous Glucose Monitoring System

By Kathryn Hardison

Shares of DexCom Inc. increased 4.3% to $122.99 on Thursday following clearance from the Food and Drug Administration for its next-generation continuous glucose monitoring system.

The shares reached an intraday high of $125.55, a level last seen April 21 when they traded at $125.95, according to FactSet. The shares are 8.4% lower for the year.

DexCom said the FDA cleared its G7 continuous glucose monitoring system for people aged two years and older with all types of diabetes. The system is wearable and doesn't require fingersticks or scanning, the company said.

Chief Executive Kevin Sayer said the system will become commercially available in the coming months.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

12-08-22 1329ET