Edap Tms SA (ADR) (NASDAQ:EDAP), the global leader in therapeutic ultrasound, today announced the adoption of its Focal One system under a pay-per-procedure sale contract by two major University hospitals in Switzerland: the Centre Hospitalier Universitaire Vaudois (CHUV) in Lausanne and Geneva University Hospital(GUH).
Pr. Christophe Iselin, Head of the Urology Department at GUH and former President of the Swiss Urology Society, commented: “We have already completed the first successful treatments atGeneva University Hospital using the Focal One HIFU device. Our clinical team is enthusiastic about the opportunity that focal therapy presents, and eager to adopt such an innovative solution for selected prostate cancer patients. Focal One offers an ideal combination of state-of-the-art IRM and real-time ultrasound imaging capabilities, together with targeted HIFU technology capable of highly precise ablation of cancerous prostatic tissue.”
Pr. Patrice Jichlinski, Head of the Urology Department at CHUV, added: “We are pleased to announce the signature of a joint Agreement between GUH and CHUV for the shared use of this Focal One HIFU device by our institutions.”
Pierre Reboul, EDAP’s Business Unit Director, stated: “The addition of these two Swiss University clinical institutions to our growing Focal One installed base is another clear indication of the increasing interest in the focal approach to managing prostate cancer in Europe. Our pay-per-treatment model is well suited to facilitate access to our HIFU technology in Europe, and we intend to continue promoting our HIFU technology as the optimal choice to address the growing demand for targeted therapy in the treatment of prostate cancer.” (Original Source)
Shares of EDAP closed yesterday at $3.37. 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 $3.35 and its 200-day moving average is $3.24.
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 represents a potential upside of 33.5% from where the stock is currently trading. According to TipRanks.com, Ramakanth has a total average return of 9.9%, a 41.5% success rate, and is ranked #926 out of 3691 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.