Some (vague) results on arthritis
Some (vague) results on arthritisSIGNIFICANT NEWS
FACT
DMS announced on Friday what it calls the “first results†on its arthritis activity (utilisation of cells from adipose tissue in the treatment of arthritis).
ANALYSIS
The trial was conducted on 40 patients suffering from knee arthritis, treated and checked after 1 week, 1, 3 and 6 months after the injection. While the study is still going on (to have a 12-month check), DMS indicates that the 6 months results will be released together with the 12 months ones. This boils down to saying that last Friday’s results are not proper results but comments based on the ongoing study. Nonetheless, the group seems optimistic, with this technique described as non-invasive, quick and appreciated by patients, and could/should replace hyaluronic acid in some cases. Why not. Despite the very positive market reaction (+27% on Friday, from a very low point though), we are a tick more cautious since no hard data/evidence have so far been released. Moreover, the results after 6 months were due in Q3 18, according to the very words of the group (the 40 patients having started to be treated at the beginning of FY18). Weird. We grant DMS the benefit of the doubt, but we view Friday’s release more as a marketing effort than the real proven outcome of this technique and will wait for more detailed information before potentially integrating it into our numbers.
IMPACT
No impact before more details are released. The comments made by the group are, however, supportive for the share price in the short term, even if it will take more information before we change our numbers.
DIAGNOSTIC MEDICAL SYSTEMS SA, (formerly known as DMS), is a France-based company, which together with its subsidiaries, designs, produces and markets medical imagery devices dedicated to conventional and digital radiology as well as bone densitometry. The Company manufactures a range of products for bone densitometry examination, including the ultrasound imaging system UBIS 5000, Challenger Envision, Stratos dR and Stratos. In the radiology sector, its products include Baccara dRF 43, EOL, Platinum and Da Vinci solutions, among others. In addition, it offers such products as scanners, transcranial Doppler, and Giotto Image mammography system. The Company operates several direct subsidiaries, AXS Medical, Apelem SAS, which manufactures radiology equipment, Medilink SARL, which produces Doppler and bone densitometry devices, Apelem SA, based in Spain, Alpha MOS based in France and one indirect subsidiary, SA Apelem and one indirect affiliated company, Spectrap.
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