Biosensors

Biosensors: Nomura believes that the sharp selldown on Tue is unwarranted and likely due to a news report about biodegradable stents meeting safety standards after a 10-year-long clinical study. Notes the limited study showed biodegradable stents’ viability for treating coronary artery disease.

However, house reckons that the market reaction is misplaced as the availability of competition from biodegradable stents or other stent platforms is not new. Adds that biodegradable stents are still very new to the market and it will take time for clinical data to reassure doctors on safety, efficacy and deliverability. Meanwhile, biodegradable polymer stents appear to be showing increasing evidence of superior results compared to durable polymer stents as evidenced by Biosensors LEADERS trial. Keeps its Buy rating with $1.84 target. The stock is up 1.7% to $1.46 after falling 9.5% yday.