Pavlo Gonchar / SOPA Images / LightRocket via Getty Images
The Food and Drug Administration has approved the new continuous glucose monitor (CGM) from diabetes management firm DexCom (DXCM).
The FDA approved the Dexcom G7 system for diabetes treatment in adults 18 and older, according to the San Diego-based company. It is expected that the U.S. will launch the system in the second part of the year.
DexCom COO Jake Leach commented: “By listening closely to our users, we are proud of offering the longest lasting and most accurate CGM. We give people the knowledge they need to better manage their diabetes.”
Shares of DexCom rose nearly 10% Thursday morning to lead S&P 500 gainers on a day of broad market declines but pared advances and were little changed in recent trading. They have lost 50% or more of their value since last year.
The FDA sent a letter to the firm a month ago regarding the condition of its two manufacturing plants.
