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AngioDynamics Concludes Enrollment

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Therapeutic and diagnostic devices maker AngioDynamics (NasdaqGS:ANGO - News) recently reported that it has completed the patient enrollment for the European clinical trial of its popular tumor-zapping NanoKnife system for the treatment of locally advanced unresectable pancreatic cancer.

The company-sponsored European trial has been designed to assess the safety and viability of the NanoKnife System in treating locally advanced unresectable pancreatic cancer.

Patients having tumors with sizes not more than 4 centimeters (or roughly 1.57 inches) who are unresponsive to chemotherapy and have not taken any chemotherapy agents within 14 days of treatment with NanoKnife have been considered eligible for the study.

The primary endpoint of the study is safety determined at 90-days following treatment with efficacy being the secondary endpoint (also determined at 90-days). The company expects to publish results from the trial in the next 6-9 months.

Pancreatic cancer is a condition in which cancer cells are found in the tissues of the pancreas. It the fourth leading cause of cancer related death among men in the U.S. Roughly 44,030 new cases are estimated to occur in the U.S. this year.

AngioDynamics is a leader in therapeutic and diagnostic devices for treating peripheral vascular and other non-coronary diseases. It has market leadership positions in several of its operating segments including angiographic products and thrombolytic catheters and products.

The company’s focus on interventional peripheral products has allowed it to expand its share as the market continues to migrate from open surgery to less invasive interventional procedures.

NanoKnife remains the life blood for AngioDynamics and it is looking to expand the label to broaden its commercial opportunity. The company is seeking regulatory approval for the system in additional indications, including prostate, hepatocellular (liver) and pancreatic cancers.

However, AngioDynamics is exposed to pricing headwinds, stemming from lower selling prices of some access and peripheral vascular products. Moreover, its product lines face strong challenges from the competitive offerings of its larger rivals such as Boston Scientific (NYSE:BSX - News) and C.R. Bard (NYSE:BCR - News). Our Neutral recommendation on AngioDynamics is backed by a Zacks #3 Rank (Hold).

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