Dexcom Shares Rise After FDA Panel Vote

DexCom Inc. shares rose Friday after a U.S. Food and Drug Administration panel voted in favor of the company's proposed non-adjunctive indication for a glucose-monitoring system.

The DexCom G5 continuous glucose-monitoring system reads glucose every five minutes for those with Type 1 or Type 2 diabetes and allows users to access the readings' data on their mobile devices, according to the company's website.

DexCom said the panel's vote designated the new system as a replacement for fingerstick glucose testing for diabetes treatment. The vote supports a reasonable assurance that the system is safe and effective, and that its benefits outweigh its risks.

"This recommendation is a big milestone for people with diabetes," DexCom Chief Executive Kevin Sayer said in a statement. Mr. Sayer thanked the panel members and public speakers and said the medical-device manufacturer looks forward to continued discussions with the FDA as it seeks approval of the system.

Dexcom shares recently traded at $87.25, up 3.1%. The company's stock has gained 24% over the past three months.

Write to Brittney Laryea at [e-mail]

(END) Dow Jones Newswires

July 22, 2016 10:15 ET (14:15 GMT)

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