Dexcom rises as FDA clears use of co's 15-day continuous glucose monitor

Shares of medical device maker Dexcom DXCM.O rise 5% to $70.21

DXCM says U.S. FDA has cleared its 15-day continuous glucose monitoring (CGM) device called Dexcom G7 15 Day for people over the age of 18 with diabetes in U.S.

Says CGM lasts for 15.5 days and helps in "easier glucose management with fewer monthly sensors and reduced monthly waste"

Co's other G7 CGM lasts for up to 10 days, while its over-the-counter CGM Stelo also lasts for 15 days

DXCM expects to launch CGM in U.S. in second half of 2025

"The 15-day wear period also puts G7 on more equal footing with Abbott's ABT.N Libre," BTIG says

"Additionally, one sticking point has been the ability to get the adhesive last the full duration. We were pleased to see that ~74% of sensors lasted the full 15 days," Piper Sandler says

Up to last close, stock had fallen 9.1% YTD