QT Vascular

QT Vascular: Counter is up 6.7% today, after the interim trial results from its Chocolate Touch study (ENDURE) came in largely positive, with a low rate of failure or requirement to re-intervene within six months.

A Vascular and Endovascular surgeon at Mt. Elizabeth Novena Hospital noted that the mid-term results of the ENDURE trial are encouraging news, and that drug eluting technology to reduce re-narrowing, in combination with the Chocolate® Balloon, could usher a new “non–stent” paradigm in the way doctors treat patients. The Chocolate Touch can potentially be applied to a wide range of lesions and doctors will await the long term results and it's availability in Singapore.

QT Vascular highlights that with the new and exciting evidence of low late lumen loss and very few re-interventions, the Chocolate Touch represents a significant step towards our vision of keeping more arteries open without a stent.

The commercial launch of Chocolate Touch is expected to commence in 4Q15 and will be marketed to countries outside of the US.

Separately, QT Vascular recently announced that it has successfully defended against a patent lawsuit filed by AngioScore, which would allow the group to continue to make and sell its Chocolate balloon catheter in the US.

At the current price, QT Vascular trades at 3.75x P/B.

Overall, the street has only 1 broker covering the stock with a Buy call and TP of $0.50.