Penumbra Inc (Penumbra) is focused on the designing, developing, manufacturing and marketing of neuro, intensive healthcare and peripheral vascular medical devices for the treatment of various body and brain conditions including acute ischemic stroke, brain aneurysm, neuro arteriovenous malformation, acute limb ischemia, deep vein thrombosis and body aneurysm, among others.

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Penumbra focuses on development of new products and clinical activities designed to support the regulatory submissions and demonstrate the effectiveness of its products. It has various R&D work done in therapy areas related to strokes, clots in veins and arteries. In FY2022, the company spent US$79.4 million on its R&D activities which amounted to 9.4% of the company's revenue. As of December 31, 2022, the company owned and/or had rights to 103 issued patents worldwide, of which 46 were US patents; and had rights to 75 pending patent applications, of which 37 were patent applications pending in the US. The company also had 40 US trademark registrations and 171 foreign trademark registrations as of FY2022. The company’s research and development activities are carried out in its facility at Alameda, California.