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Why the Impedimed (ASX:IPD) share price will be on watch today

The Impedimed Limited (ASX: IPD) share price will be closely watched by investors this morning after the medical technology company announced it has concluded its long-running Prevent trial.
The post Why the Impedimed (ASX:IPD) share price will be on watch today appeared first on The Motley Fool Australia. –

asx share price on watch represented by group of prople all looking through magnifying glasses

The Impedimed Limited (ASX: IPD) share price will be closely watched by investors this morning. This comes after the medical technology company announced that it has concluded its long-running Prevent trial.

At the closing bell yesterday, the Impedimed share price finished the day flat at 13 cents.

What did Impedimed announce?

It will be interesting to see which way the Impedimed share price moves today following the latest news.

According to the release, Impedimed advised that all Prevent trial patients have completed their follow-up visits. All 10 participating sites are now closed and the data gathered from the trial is currently being compiled. The company highlighted that study investigators have commenced their work on a manuscript. The paper is due to be submitted for initial journal review before the end of next month.

The Prevent trial is an international study of 1,100 patients across the United States and Australia. In partnership with 10 medical centres, it is the largest randomised controlled study on patients at risk of lymphoedema. Recruits included breast cancer survivors who are at risk of developing secondary lymphoedema in their arms through their treatment. The trial was conducted over six and half years with patients followed up for three years.

Impedimed noted that the study aimed at understanding if detecting extracellular fluid build-up through a bioimpedance spectroscopy device would reduce the rate of lymphoedema progression, followed by early intervention. This was compared with using a measuring tape to identify extracellular fluid accumulation.

What did management say?

Impedimed managing director and CEO Mr Richard Carreon commented on finishing the trial:

We are pleased to reach this important milestone and expect the results to demonstrate improved outcomes when L-Dex is used to monitor patients at risk of lymphoedema. We believe the release of the results of the PREVENT trial, together with the recent meta-analysis results, will again further our case with both the NCCN and Private Payors.

How has the Impedimed share price performed?

The Impedimed share price reached a recent peak of 18.5 cents in November, before scuttling down to 13 cents.

The company’s shares spent most of 2020 hovering below the 10-cent mark, however they have since gained traction. On current prices, Impedimed has a market capitalisation of $163 million.

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Motley Fool contributor Aaron Teboneras 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.

The post Why the Impedimed (ASX:IPD) share price will be on watch today appeared first on The Motley Fool Australia.

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