EnteroMedics Inc (NASDAQ:ETRM), the developer of medical devices using neuroblocking therapy to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced that 18 month results from the Company’s ReCharge Clinical Study were published in the Journal of Obesity, Volume 2015. The article, titled “Sustained Weight Loss with Vagal Nerve Blockade but Not with Sham: 18-Month Results of the ReCharge Trial,” which highlights sustained weight loss in patients receiving vBloc® Neurometabolic Therapy, is available online here.
“Because of the cyclical nature of obesity, sustainable weight loss is a critical measure of success in the treatment of this disease,” said Scott A. Shikora, MD, FACS, Chief Medical Officer of EnteroMedics and lead author of the article. “Results at 18 months from the ReCharge Study demonstrate both the sustainability of weight loss using vBloc Therapy, a distinct contrast to the weight regain experienced by the sham control group, and the unique safety profile of the device over time. Publication of these results underscores vBloc Therapy’s important new position within the obesity treatment spectrum, where, historically, options such as anatomy altering or restricting surgery have required substantial tradeoffs in lifestyle, nutrition and safety.”
The ReCharge Pivotal Trial is a randomized, double-blind, sham-controlled, multicenter pivotal clinical trial of vBloc® Neurometabolic Therapy in 239 patients with obesity. As described in the published data, at 12 months, patients in the vBloc Therapy group (n=162) demonstrated excess weight loss (EWL) of 25.8%, compared to 16.9% EWL in the Sham control group (N=77). At 18 months, the gap between the vBloc Therapy Group and the Sham group widened, with the vBloc Therapy group sustaining their weight loss at 23.5% EWL, compared to a significant excess weight regain in the Sham control group which had dropped to 10.2% EWL at the same time point. Sensitivity analyses showed that the unblinding of the trial did not significantly influence the larger treatment effect with vBloc over time, as most of the patients in the Sham group were still blinded at 16 months (P=0.34 for the unblinding by treatment interaction). Similarly, when the analysis was restricted to patients who remained blinded throughout 18 months, the estimated mean percent EWLs were similar to that of the overall sample. The safety profile of vBloc Therapy remained favorable at 18 months. (Original Source)
Shares of Enteromedics closed yesterday at $0.36. ETRM has a 1-year high of $2.05 and a 1-year low of $0.33. The stock’s 50-day moving average is $0.92 and its 200-day moving average is $1.08.
On the ratings front, Canaccord Genuity analyst William Plovanic reiterated a Buy rating on ETRM, with a price target of $4, in a report issued on April 8. The current price target implies an upside of 1011.1% from current levels. According to TipRanks.com, Plovanic has a total average return of 14.3%, a 64.0% success rate, and is ranked #114 out of 3707 analysts.
EnteroMedics Inc is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders.