Shockwave Medical's (SWAV) Reducer Receives Positive Results
Shockwave Medical, Inc. SWAV recently announced that the researchers provided interim long-term follow-up results of up to three years, along with six-month data from the entire population of the REDUCER-I investigation. These results support the favorable, "real-world" results of Shockwave Reducer, a cutting-edge treatment for refractory angina.
Results of the study were presented at the 73rd Annual Scientific Sessions of the American College of Cardiology in Atlanta, GA.
Price Performance
In the past six months, SWAV’s shares have gained 54.4% compared with the industry’s rise of 19.3%. The S&P 500 has gained 19.1% in the same time frame.
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More on the REDUCER-I Study
REDUCER-I is a post-market, multi-center, observational study designed to collect long-term outcomes on Shockwave Reducer in a large, ‘real-world’ population of 400 patients.
The study's primary efficacy endpoint was the proportion of patients who reported improvement in their angina symptoms, as measured by a decrease in their Canadian Cardiovascular Society (CCS) grade at six months compared with the baseline. The major adverse cardiac events (MACEs) and device- and procedure-related periprocedural serious adverse events (SAEs) up to 30 days post-implant were the primary safety endpoints.
The Favorability at a Glance
Results after six months showed that 70% of patients had improved in at least one CCS class and 24% of patients in at least two CCS classes. Six months later, only 18% of patients had CCS class III/IV, down from 72% at baseline.
At long-term follow-up, angina symptoms were consistently reduced; only 15% of patients reported having CCS class III/IV symptoms at two years, and 11% reported having them at three years. A perfect safety profile was also shown using Shockwave Reducers, with uniformly low SAE and MACE rates of 1.1% and 1.6%, respectively.
Patients are being enrolled in COSIRA-II, a U.S. IDE double-blind randomized sham-controlled clinical trial, to further assess the safety and efficacy of Shockwave Reducer for the treatment of patients with refractory angina for whom there are no suitable alternatives for conventional revascularization. The COSIRA-II results are expected to bolster the regulatory application for Shockwave Reducer's U.S. FDA approval.
Growing Market Prospect
Per BioSpace report, the global refractory angina treatment market is witnessing substantial growth due to increasing prevalence rates. In the United States, nearly 1 million individuals suffer from refractory angina, with 25,000 to 75,000 new cases annually. Globally, this disease affects more than 2 million people, with numbers on the rise. As a result, there is a significant focus on developing new drug varieties and therapies.
ShockWave Medical, Inc. Price
ShockWave Medical, Inc. price | ShockWave Medical, Inc. Quote
Zacks Rank & Stocks to Consider
SWAV carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Cardinal Health, Inc. CAH and Cencora, Inc. COR.
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 51.9% compared with the industry’s 3.2% rise in the past year.
Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have surged 51.5% compared with the industry’s 3.6% rise in the past year.
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