Singapore’s Big Winner for the Week: QT Vascular Ltd

QT Vascular Ltd (SGX: 5I0) increased some 12% from last Friday’s close to end Thursday at S$0.355. With the Straits Times Index (SGX: ^STI) declining 0.8% during the same period, QT Vascular is a big winner in the Singapore market this week.

Listed last year, the firm is involved with the development and commercialization of minimally invasive products for the treatment of diseases that affect the circulatory system. It calls Singapore home with a US subsidiary, TriReme Medical LLC, in California.

On Tuesday, QT Vascular announced that its first-in-human trial to evaluate the safety and performance of its new drug-coated balloon, Chocolate Touch, was successful with “enrollment nearly double the 30 patient milestone” during the fourth quarter of 2014.

The trial was conducted in four different time periods – at 30 days, 3 months, 6 months, and 12 months – in Europe and New Zealand.

Dr. Andrew Holden, who was the co-Principal Investigator of the study, said of the product:

“Chocolate Touch allows me the option to treat patients without pre-dilatation with potentially fewer acute complications. This unique capability affords the possibility of optimal short and long term outcomes and is consistent with the trend of moving away from the use of permanent implants such as stents.”

Dr. Eitan Konstantino, the Chief Executive Officer of QT Vascular, added:

“We are delighted that the investigators at the trial sites believe in the unique benefits of Chocolate Touch. The commercialization of Chocolate Touch late this year will be yet another major milestone for the Group.”

Investors could be hoping that the new product may help lift profits at the firm. It has been loss-making for the past three quarters.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.