The Anteris Technologies Ltd (ASX: AVR) share price is rising today after the company announced its ComASUR Key Milestone report.
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At the time of writing, the Anteris share price is up 5.5% to $9 per share.
Anteris Technologies is a healthcare company specialising in the design and production of heart valve and tissue products. It markets itself to investors as a structural heart company. In particular, delivering “clinically superior and durable solutions through better science and better design”. Its focus is on developing next-generation technologies that help healthcare professionals create life-changing outcomes for patients.
After having sold the rights to its CardioCel and VascuCel patch products in 2019, the company’s main focus today is on its Adapt BioScaffold products. In addition to the development of new heart valve replacement solutions. According to Anteris, the Adapt products are used across more than 135 medical centres globally.
In 2020, the company commenced human trials of its DurAVR heart valve.
Heart valve tech steps up
The company’s milestone regards a specific technological component in its heart-valve artificial construction process called ComASUR. The company reports reaching concept lock on critical components of its ComASUR Transfemoral Delivery System. Furthermore, causing the Anteris share price surges today.
Most importantly, the novel commissural alignment component is now fully functional. This component gives physicians the ability to align the commissures of the replacement valve to the native valve.
This aspect of Transcatheter Aortic Valve Replacement (TAVR) delivery is not available with currently marketed products. However, it is highly desired by physicians.
A series of acute animal studies demonstrated the feasibility of the DurAVR THV (prosthetic aortic valve) and its bespoke ComASUR delivery system. The studies were specifically designed to show the ComASUR delivery system’s ability to access the arterial vasculature. This uses minimally invasive techniques and tracks through the aortic arch to the aortic valve where a DurAVR THV was implanted.
The studies are a critical part of the test plans agreed with the FDA. This is a part of its approval process for the Company’s Early Feasibility Study planned later in the year.
Anteris management comments
Anteris CEO, Wayne Paterson said the company’s latest milestone was very positive and the Anteris share price has responded.
This milestone is highly significant as we continue to innovate our product offerings. The commissural alignment component will give physicians the ability to deliver DurAVR accurately and consistently leading to better outcomes for patients. This further strengthens our three key technology pillars (ADAPT, DurAVR and ComASUR).
As we advance towards our FDA EFS submission, these milestones are critical to ensure study approval.
Share price snapshot
The Anteris share price has been a highly disappointing performer on the ASX. Losing more than 90% of its value over the past five years. The company has executed several capital raisings and has struggled with debt and cash flow issues.
However, since the beginning of 2021, the Anteris share price has more than tripled in value. Still far below its all-time highs of over $150, the Anteris share price has still gained 140% in 2021 so far.
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Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.