Report
Jacob Mekhael

Sequana Medical FIRST LOOK: Additional alfapump data shows continued benefit

Sequana reported additional data for the alfapump in liver ascites including 12-month POSEIDON follow-up showing continued benefit over a longer time period with 100% paracentesis reduction, as well as data from the patient preference study and matched cohort analysis supporting the alfapump's positioning vs. standard of care. Looking ahead, we look forward to the PMA submission to the FDA expected by YE23, and note that management is confident with the data package following a pre-PMA meeting with the FDA. As such, we reiterate our BUY rating and € 7 TP.
Underlying
Sequana Medical

Sequana Medical NV. Sequana Medical NV is a Belgium-based company, which manufactures medical devices. The Company focuses mainly on the development of treatment solutions for the management of liver disease, heart failure, malignant ascites and other fluid imbalance disorders. Sequana Medical NV provides alfapump, which is an implantable, programmable, wireless-charged and battery-powered system that is CE-marking for the management of refractory ascites due to liver cirrhosis and malignant ascites. Over 650 alfapump systems have been implanted. Apart from the Alfapump, the Company also aims to develop a direct sodium removal (DSR) therapy, which is a propriety approach to the treatment of volume overload in heart failure.

Provider
KBC Securities
KBC Securities

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Analysts
Jacob Mekhael

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