QT Vascular

QT Vascular: UOB Kay Hian maintains Buy with TP $0.60. The house notes that Coronary Chocolate is in the bag with FDA clearance secured ahead of our expectation. QTV’s coronary portfolio is on track to be a medium-term growth driver. Reduced uncertainty on product pipeline and confidence in management boost sentiment on the stock. Prefer to enter on price retracement. Confidence in management after a significant milestone is achieved also adds value to the early-stage company. With the FDA 510(k) for the Chocolate PTCA now in the bag, the house look forward to the device securing clearances in other markets as well. QTV’s remaining pipeline continues to be strong with two other variants of the Chocolate PTA balloon catheter (Silk PTA and drug-coated Chocolate PTA) still under development.