Edap Tms SA (ADR) (NASDAQ:EDAP), the global leader in therapeutic ultrasound, announced the installation of a Focal One system under a Revenue-per-procedure (“RPP”) contract with the Martini-Klinik at the University Hospital Hamburg-Eppendorf (UKE) in Germany.
The Martini-Klinik is the world’s largest prostate cancer center by treatment volume, conducing approximately 2,200 prostate cancer procedures per year.
Dr. Georg Salomon, MD, PhD, Senior Physician at the Martini-Klinik and Associate Professor of Urology at the University of Hamburg commented: “Like all other cancers, there is no single, universal solution to treat prostate cancer and with that in mind, the Martini-Klinik has added Focal One HIFU to its therapeutic portfolio. Focal therapy is a promising, minimally invasive treatment option for select patients. We are proud to offer this innovative treatment to our patients and will be assessing the long term outcomes of this emerging therapeutic approach. The addition of Focal One reinforces the Martini-Klinik’s position at the forefront of urologic care where the most experienced physicians utilize cutting edge technology to provide unrivalled, individualized care to the contemporary prostate cancer patient.”
Judith Johannsen, EDAP GmbH’s General Manager for Germany, added: “A facility as prominent as Martini-Klinik using Focal One represents an important validation of our technology, and we are confident that our device will become an invaluable asset for the center. Dr. Salomon is a renowned member of the urological community and we look forward to working with him to bring HIFU treatment to a growing number of patients in need.”
Marc Oczachowski, EDAP’s Chief Executive Officer, concluded: “We are extremely pleased that Martini-Klinik has chosen to adopt Focal One through this RPP agreement, which we expect will support the continued growth of our procedure-driven revenue. This is another clear indication of the growing appreciation for focal therapy among thought leaders in urology. Moreover, it supports our belief that Focal One has the potential to become a must-have therapeutic technology in today’s prostate cancer treatment paradigm.” (Original Source)
Shares of EDAP TMS S.A. closed yesterday at $3.5 . EDAP has a 1-year high of $6.05 and a 1-year low of $1.15. The stock’s 50-day moving average is $3.17 and its 200-day moving average is $3.07.
On the ratings front, H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on EDAP, with a price target of $4.50, in a report issued on May 15. The current price target implies an upside of 28.6% from current levels.
According to TipRanks.com, Ramakanth has a total average return of 16.5%, a 44.4% success rate, and is ranked #633 out of 3614 analysts.
Edap TMS SA is a holding company. The Company through its divisionsHIFU and UDS,develops, produces and markets minimally invasive medical devices for urological diseases. Its divisionsoperate in Europe, the Americas, Asia and the rest of the world.