{
  "docId": "019dd923-622c-750b-8b98-be9011f05a27",
  "docSlug": "1cbf7684bf7d",
  "documentTitle": "Penumbra, Inc. (PEN)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-31 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 21,
  "pageCount": 61,
  "prevPage": 20,
  "nextPage": 22,
  "slideType": "market_sizing",
  "function": "size_opportunity",
  "density": "overcrowded",
  "nDataPoints": 21,
  "notes": "The slide argues that Solumbra is the fastest-growing technique, implying a competitive advantage for vendors offering both aspiration and stent retriever technologies.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "bar_chart_stacked",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-be9011f05a27/21",
  "deckHref": "/decks/019dd923-622c-750b-8b98-be9011f05a27",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-be9011f05a27.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-be9011f05a27#slide-21",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.1,
        "x": 0.78,
        "y": 0.45
      },
      "kind": "callout",
      "text": "50.4% CAGR",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0d0f1fb3-709e-4b0e-aefc-39782524b591",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.1,
        "x": 0.78,
        "y": 0.62
      },
      "kind": "callout",
      "text": "37.5% CAGR",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "244b2302-07ea-450e-9ff4-9ad35c959da2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.1,
        "x": 0.78,
        "y": 0.72
      },
      "kind": "callout",
      "text": "15.5% CAGR",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bdde26ea-bdc4-4c9e-9e09-235331bc11b2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Solumbra has been the fastest-growing category of first-pass mechanical thrombectomy techniques, and it is currently the largest. Accordingly, most neurovascular thrombectomies which include aspiration also include stent retrievers, meaning that doctors and purchasing officers may prefer to source from vendors which can supply both high-quality aspiration catheters AND high-quality stent-retrievers.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee3a-7528-92b5-79becdf7ec3f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.75,
        "x": 0.12,
        "y": 0.31
      },
      "kind": "chart",
      "text": "Neurovascular Mechanical Thrombectomies By First-Pass Technique, Blended Sell-Side Estimate",
      "attrs": null,
      "subkind": "bar-stacked",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e183af52-ba4d-4247-83a6-3081159f22c3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "CAGR: 50.4%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-ee3a-7528-92b5-7c9a6f3900d0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.88
      },
      "kind": "paragraph",
      "text": "Solumbra has been the fastest-growing category of first-pass mechanical thrombectomy techniques, and it is currently the largest. Accordingly, most neurovascular thrombectomies which include aspiration also include stent retrievers, meaning that doctors and purchasing officers may prefer to source from vendors which can supply both high-quality aspiration catheters AND high-quality stent-retrievers.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "793a80cc-2237-44fc-9138-758880f57320",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.9,
        "x": 0.05,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "Thromboaspiration as a treatment option for acute ischemic stroke has gained increasing interest with more recent clinical successes. Importantly, the aspiration method costs approximately 30-50% less per procedure than the stent retriever method. Further, “solumbra” – a treatment method which combines stent retrievers with aspiration – is already estimated to be the most popular first-line approach to neurovascular mechanical thrombectomy, and continues to be the fastest-growing. Thromboaspiration may also be employed in the case that a first-pass stent retriever attempt fails (just as a stent retriever may be employed if a first-pass thromboaspiration attempt – or “ADAPT” – fails).",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e636174d-2e86-4f34-afe0-0be6e7cd235c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.12,
        "y": 0.85
      },
      "kind": "source-note",
      "text": "Source: Blended sell-side estimate",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ea244168-9f86-43a5-9df5-2959b5f8f08f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.31,
        "y": 0.03
      },
      "kind": "title",
      "text": "Aspiration Thrombectomy Studies Produce Fewer Resounding Successes",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "00149ca6-6d73-4407-b733-18ad0368fc51",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 30,
      "from": 11,
      "beatId": "b3c04c25-9043-4858-9f00-1ee6f45ad307",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "The document presents the competitive pressures and challenges faced by Penumbra.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}