Cardiovascular Systems CSII recently announced that the enrollment of 2000 patients for the ECLIPSE coronary trial has been completed. The trial will feature the testing of two treatment strategies for managing one of the most difficult challenges for interventional cardiologists and evaluating economic outcomes as well.
The data from the randomized clinical trial will contribute toward the effective treatment of patients with severely calcified coronary arteries.
Significance of the Study
ECLIPSE is the largest, multi-center, randomized coronary atherectomy trial ever conducted to date. The prospective study will assess nearly 2000 patients with Coronary Artery Disease, which is the most common form of heart disease in the United States.
The likelihood of this life-threatening condition is found in patients suffering from high blood pressure, abnormal cholesterol levels, diabetes or having a family history of early heart disease.
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Of the participants, half received orbital atherectomy prior to drug-eluting stent implantation, while other patients received conventional angioplasty, including specialty balloons, followed by DES implantation.
ECLIPSE is powered to demonstrate differences in the primary endpoints of the post-procedural in-stent minimal cross-sectional area and the clinical outcome of target vessel failure in a year.
Results from the ECLIPSE trial are expected to be declared in the fall of 2024.
Industry Prospects
Per a Research report, the global atherectomy device market was valued at $557.7 million in 2018 and is expected to witness a CAGR of 7% by 2026.
The rising prevalence of target diseases is the key driver of the market.
Recent Developments
In February 2023, CSII announced Abbott Laboratories’ $890 million acquisition of the company. Under the terms of the agreement, Abbott will gain an innovative, complementary solution for treating vascular disease through Cardiovascular Systems’ leading atherectomy system, which prepares vessels for angioplasty or stenting to restore blood flow.
In January 2023, CSII initiated the KAIZEN clinical study to assess the safety and efficacy of the peripheral orbital atherectomy system for the treatment of calcified plaque in patients with peripheral artery disease. The study is intended to secure regulatory approval in Japan.
Price Performance
In the past six months, shares of the company have increased 44.7% compared with the industry’s rise of 4.1%.
Zacks Rank and Key Picks
Cardiovascular Systems currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the overall healthcare sector are Lantheus LNTH, Avanos Medical AVNS and Insulet PODD. Lantheus sports a Zacks Rank #1 (Strong Buy), while Avanos Medical and Insulet carry a Zack Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lantheus’ stock has risen 41.1% in the past year. Earnings estimates for Lantheus have remained constant at $4.79 per share for 2023 and at $5.32 for 2024 in the past 30 days.
LNTH’s earnings beat estimates in all the last four quarters, delivering an average surprise of 50%. In the last reported quarter, it reported an earnings surprise of 42.71%.
Estimates for Avanos Medical in 2023 have remained constant at $1.68 per share in the past 30 days. Shares of the company have declined 11.8% in the past year compared with the industry’s fall of 16.4%.
Avanos Medical’s earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, AVNS delivered an earnings surprise of 25%.
Insulet’s stock has increased 19.7% in the past year. Its estimates for 2023 have increased from $1.26 per share to $1.29 per share over the past 30 days.
Insulet’s earnings beat estimates in three of the trailing four quarters and missed the same in one, the average surprise being 59.81%. In the last reported quarter, PODD delivered an earnings surprise of 129.17%.
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