Biosensors
To my readers, biosensors plummeted yesterday from massive selling. It drops from a high of 1.565 to a low of 1.43 on the 17th of April. Eventually closing at 1.435. On the 18th, it opens at 1.45. Reaching a high of 1.48 before collasping at 1.46 at closing. So, what actually happened? from Nomura The share price of Biosensors pulled back today likely on a news report – “Biodegradable Stent Safe for Long-Term Treatment of Coronary Artery Disease”, Globe Newswire, 16 Apr 2012 – about safety issues surrounding biodegradable stents after a 10 year long clinical study. The limited clinical study showed the viability of a biodegradable stent for treating coronary artery disease. We believe the market reaction is misplaced. The idea of biodegradable stents is not new. Indeed back in January 2011, Abbott Labs received approval from the EU for its biodegradable ABSORB stent with the company looking to commercialize it in late 2012 or 2013. Meanwhile Abbott is doing further trials to su...