Biosensors’ recent progress yet to realise full impact

Its earnings performance is still weak.

Over the past two months, Biosensors announced a series of positive news, such as a distribution agreement entered with Veryan Medical Ltd. for the latter’s BioMimics 3DTM, which will complement Biosensors’ portfolio of products in the area of peripheral arterial disease.

According to a report by OCBC, some more of the recent progress made by the group include active promotion of BioMimics 3D in 1Q15, for certain international markets excluding the USA and Japan. This was followed by the completion of patient enrolment for the LEADERS Free Japan Trial, a trial that aims to confirm that the safety and efficacy of BioFreedomTM in Japanese patients is equal to that observed in patients of other ethnicities.

Most recently, analysts at OCBC received an update on the group’s presence in China as its whollyowned subsidiary JW Medical Systems announced completion of patient enrolment in CREDIT II Stent Trial, which involves the EXCEL II coronary stent.

OCBC adds that the primary endpoint data for the LEADERS Free trial is expected in late 2015, with follow up planned out to two years. There may be upside arising from potentially favourable results, which could possibly show that BioFreedom offers the benefits of a drug eluting stent but with a shorter dual anti-platelet therapy (DAPT) requirement.

The group’s latest earnings performance was still largely weak.Key upside would come from the group’s ability to sustain its decent operating margin at ~20% as well as progress in approvals for the group’s medical devices.