Nanosphere, Inc. (NASDAQ:NSPH), a company enhancing medicine through targeted and flexible molecular diagnostics, announced that new clinical data for the Verigene® Gram-Positive (BC-GP) and Gram-Negative (BC-GN) Blood Culture Tests for rapid sepsis diagnostics were presented during Sepsis Awareness Month at the 55th Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC), held last week in San Diego, CA.
Four of the five studies presented at ICAAC 2015 included an analysis of the impact of Verigene BC-GP and/or BC-GN on patient outcomes. Results from each of these studies showed a reduction in patient length-of-stay in the hospital or ICU, reduction in the time to organism identification, and reduction in time to optimal therapy.
Verigene studies presented at ICAAC included:
- Outcomes Associated with the Utilization of Rapid Diagnostic Technology and Pharmacist Intervention in the Management of Gram-Negative Bacteremia – This pre/post implementation study sought to determine the clinical and economic impact from implementing Verigene BC-GN paired with pharmacist intervention. Implementation led to a 40-hour reduction in time to optimal therapy, 9.4-hour reduction in time to effective therapy, and 0.9-day hospital length-of-stay reduction. The study was conducted at Froedtert Hospital and the Medical College of Wisconsin (Milwaukee, WI) and led by A. Gibble.
- Impact of a Rapid Molecular Diagnostic Test and Antimicrobial Stewardship on Time to Optimal Therapy in Bacteremic Patients – This pre/post implementation study looked at the clinical impact from implementing Verigene BC-GP and BC-GN in combination with antimicrobial stewardship team intervention. Use of BC-GP and BC-GN with stewardship intervention led to a 25-hour reduction in time to organism identification, 32-hour reduction in time to optimal therapy, and a 3-day intensive care unit (ICU) length-of-stay reduction. The study was conducted at Mercy Medical Center and Drake University(Des Moines, IA) and led by G. Tallman.
- Comparison Between Nanosphere Verigene BC-GP and PNA FISH Testing on the Treatment of Staphylococcus-related Bloodstream Infections (BSI) – This study sought to determine the additional clinical and economic impact from use of Verigene BC-GP when compared to use of peptide nucleic acid-fluorescence in situ hybridization (PNA-FISH) for patients with Staphylococcal bloodstream infections. BC-GP improved the time to organism identification, resistance detection, and optimal therapy by 6.2 hours, 5.5 hours, and 9.7 hours, respectively. Length of stay was reduced by 3.4 days for patients with methicillin-sensitive Staphylococcus aureus infections and 1.9 days for patients with methicillin-resistant Staphylococcus aureus infections. The study was conducted at Lee Memorial Health System (Fort Myers, FL) and led by J.C. Cho.
- Evaluation of Verigene BC-GN for Identification of Gram Negative Bacteria and Detection of Resistance to Beta-Lactams Including Carbapenems from Solid Media – This study looked at the performance of Verigene BC-GN for the detection of gram-negative bacteria and a broad range of multi-drug resistance genes from bacterial isolates grown on solid media. The positive predictive value of BC-GN was 100% for both bacterial identification and resistance gene detection. The negative predictive value of BC-GN was 97% for resistance gene detection. This study was conducted at Case Western Reserve Universityand the Cleveland VA Medical Center (Cleveland, OH) and led by M.R. Jacobs.
- Verigene Use in the Management of Patients with Gram Negative Bloodstream Infections – This study found that implementation of Verigene BC-GN in combination with antimicrobial stewardship team communication of test results led to a day reduction in the duration of empiric therapy and a statistically significant reduction of wide-spectrum empirical antimicrobial consumption (DDD 132.4 vs 286.5). The study was conducted at Sant’Orsola – Malpighi University Hospital (Bologna, Italy) and led by S. Tedeschi. (Original Source)
Shares of Nanosphere closed yesterday at $2.10. NSPH has a 1-year high of $25.40 and a 1-year low of $2.02. The stock’s 50-day moving average is $2.48 and its 200-day moving average is $3.51.
On the ratings front, Nanosphere has been the subject of a number of recent research reports. In a report issued on September 8, Chardan analyst Keay Nakae initiated coverage with a Buy rating on NSPH and a price target of $3.30, which implies an upside of 57.1% from current levels. Separately, on August 12, Piper Jaffray’s William Quirk maintained a Hold rating on the stock and has a price target of $2.60.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Keay Nakae and William Quirk have a total average return of -22.0% and 4.4% respectively. Nakae has a success rate of 25.0% and is ranked #3648 out of 3768 analysts, while Quirk has a success rate of 57.1% and is ranked #1407.
Nanosphere Inc develops, manufactures and markets molecular diagnostics platform, the Verigene System, which enables sensitive genomic and protein testing on a single platform.