Yes, very good news; but generally anticipated, given previous study results. But for stock to move up, we need a deal to sell rights of RenalG, or a partnership, or a cash investor. And, boy would it be great with there were a process by which US approval for use of RG could be granted based on the exhaustive and extensive Italian studies--even on a temporary or conditional basis. Since its only a device and a procedure and not a medicine, it would make sense if there were a side-step method for a US approval based on efficacy and safety demonstrated in these studies. But, if there were, I'd guess we would have heard in past CC's for such a plan by PLC should the study results prove as successful as they had.
Yeah, in general, the first device of a class has fairly serious testing requirements. I'm not at all sure if PLC's patent estate gives them any hope of collecting royalties should someone implement the idea by adding an extra nurse (You might want to do this despite the outsize cost just for the effectiveness) (But I think it does).
With the Italian results being so dramatic, you could plan a fairly small pivotal US study, which saves money. There were probably individuals at that conference who could swing that much personally. But that would still leave PLC hopelessly backward in US selling muscle. So best hope is still a big friend to take over the project.