AngioDynamics Inc. (ANGO) has commenced a new study to evaluate the efficacy of its BioFlo Peripherally Inserted Central Catheter (:PICC) in reducing catheter-related thrombosis. This should boost investor confidence and help to maintain the positive trend demonstrated by the company’s stock over the last one month.
ANGO has enrolled its first patient under the "PICC Related Obstruction of Flow" (:PROOF) randomized multi-center study at University of Miami Hospital. The study intends to enroll 354 patients at a maximum of five sites, including University of Miami Hospital, NorthShore University HealthSystem of Chicago and Ottawa Hospital Research Institute, Canada.
BioFlo is the only power injectable PICC available that uses an integrated Endexo Technology. BioFlo’s long-term durability and efficacy is intended to provide clinicians a high degree of safety and confidence in providing better patient care and improved patient outcomes.
As part of the study, the cost-efficiency of AngioDynamics’ BioFlo PICC will be compared with CR Bard’s (BCR) PowerPICC SOLO2, a commercially available PICC. In addition to analyzing the incidence of catheter-related venous thrombosis, the study will also evaluate the occurrence of catheter-related complications.
It has been proved that on an average, BioFlo PICC has 87% lesser thrombus accumulation on its surface in an in-vitro blood loop model test in comparison to commonly used PICCs, based on platelet count. Moreover, side-by-side in vivo test results also substantiate the benefits of BioFlo PICC.
The latest PROOF trial has been initiated to clinically validate the fact that BioFlo PICC is the best product available in the market. Successful completion of the trial should bolster revenues of ANGO’s beleaguered Vascular division. In the last reported quarter, revenues from this division declined 4%.
AngioDynamics should continue to benefit from the ongoing shift from open surgery to less-invasive interventional procedures. Despite the near-term operational glitches, the company has the ability to grow in the long term, on the back of higher international sales, new products, acquisitions, and operational synergies from its cost-saving measures.
Currently, AngioDynamics has a Zacks Rank #3 (Hold). While we remain on the sidelines regarding ANGO, medical stocks such as Masimo (MASI) and Luminex (LMNX) are worth considering. Both these stocks have a Zacks Rank #2 (Buy).