QT Vascular’s share price jumped 12.5% as new device’s clinical trials gain ground

It closed at $0.36 on Wednesday.

QT Vascular’s share price rallied on Wednesday as the market welcomed news that its clinical trials of its Chocolate Touch drug-coated balloon in Europe and New Zealand had “substantially exceeded” its expectations.

According to OSK DMG, the company’s initial goal was to enrol 30 patients for the clinical trials but enrolment turned out to be twice that number in 4Q14.

“The news spurred the share price of the company by 12.5% to SGD0.36 on Wednesday. The company also expects to win approvals to market the product in Europe Union in the later part of this year. We believe rolling out of its new products and acquiring approvals for its existing products in new markets will likely be a catalyst for QT Vascular’s share price,” stated OSK DMG.