DexCom Comments on SVB Relationship
March 13 2023 - 7:30AM
Business Wire
DexCom, Inc. (NASDAQ: DXCM), today issued the following
statement in response to speculation following the developments at
Silicon Valley Bank, including a recent CNBC article:
“Dexcom does not have material exposure to the developments at
Silicon Valley Bank, including with respect to the company’s cash
deposits. Although the company has worked successfully with SVB for
many years, Dexcom does not have any exclusive banking relationship
with SVB. As noted in Dexcom’s recent filing on form 10-K, the
company currently retains approximately $2.5 billion in cash, cash
equivalents, and short-term marketable securities. Approximately
$2.7 million of this amount is held at SVB.”
About DexCom, Inc.
DexCom, Inc. empowers people to take real-time control of health
through innovative continuous glucose monitoring (CGM) systems.
Headquartered in San Diego, Calif., and with operations across
Europe and select parts of Asia/Oceania, Dexcom has emerged as a
leader of diabetes care technology. By listening to the needs of
users, caregivers, and providers, Dexcom works to simplify and
improve diabetes management around the world. For more information
on Dexcom, visit https://www.dexcom.com/en-us/about-dexcom.
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Media Contact James McIntosh
619-884-2118 james.mcintosh@dexcom.com
Investor Contact Sean
Christensen 858-203-6657 sean.christensen@dexcom.com
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