OvaScience Inc (NASDAQ:OVAS), a global fertility company focused on the discovery, development and commercialization of new treatment options, today announced that it has finalized its commercial agreement with the IVF JAPAN GROUP and that the AUGMENTSM treatment is now available to women through the clinic. The AUGMENT treatment is designed to improve the health of a woman’s existing eggs and enhance in-vitrofertilization (IVF) procedures. The commercial agreement follows a non-commercial preceptorship training program at IVF JAPAN GROUP, which was approved by the Japan Society of Obstetrics and Gynecology (JSOG).
“Each year in Japan, hundreds of thousands of women and couples seek infertility treatment and we believe that with the AUGMENT treatment, OvaScience is in a unique position to help,” said Harald F. Stock, Ph.D., President and Chief Executive Officer of OvaScience. “Feedback from clinicians and patients during the preceptorship program with IVF JAPAN GROUP was positive and there continues to be interest in and demand for our innovative technology in this strategically important region. The signing of this commercial agreement marks a milestone for OvaScience, as we continue to execute on our targeted expansion of the AUGMENT treatment. We look forward to a full commercial launch of AUGMENT in Japan in 2017, as we work to help women and couples build the families they deserve.”
Women’s infertility poses a significant issue for Japanese women and couples. Approximately, one in six couples have had fertility treatments.2 Further, Japanese men and women are marrying later in life, with the average age of first-time mothers rising above 30 years old.3 As such, the percentage of babies born using advanced reproductive assistance in Japan increased from 2.5% in 2009 to 4.1% in 2013.4,5 One of the causes of infertility is the high age of mothers, which is thought to have a significant impact on egg health and fertility rates.6 OvaScience estimates the Japanese market size for IVF alone to be approximately $3.2 billion.7
“At IVF JAPAN GROUP, we are committed to providing patients with the most advanced technologies available and are excited to offer the AUGMENT treatment,” said Yoshiharu Morimoto, M.D., Ph.D., Chief Executive Officer of IVF JAPAN GROUP. “For women with poor or compromised egg health, the rates of pregnancy success, even with IVF, are often low. The AUGMENT treatment represents a scientific advancement and can help patients by boosting the energy levels of their own eggs, a process that data suggest can promote embryo development and may increase IVF success rates. Our staff are well trained to offer this treatment more broadly as a promising new fertility option.”
During IVF, women often want to use their own eggs. However, many patients suffer with poor or compromised egg health, which can happen naturally with age or due to inherited reproductive disorders or other environmental or medical factors. The AUGMENT treatment is designed to improve egg health and enable women to use their own eggs with IVF by using energy-producing mitochondria from a woman’s own egg precursor (EggPCSM) cells to supplement existing mitochondria and revitalize her eggs. It is the first fertility treatment available to patients based on OvaScience’s proprietary EggPC cell technology. (Original Source)
Shares of OvaScience closed last Friday at $5.55, down $0.06 or -1.07%. OVAS has a 1-year high of $20.57 and a 1-year low of $4.53. The stock’s 50-day moving average is $5.60 and its 200-day moving average is $7.14.
On the ratings front, OvaScience has been the subject of a number of recent research reports. In a report issued on August 9, H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on OVAS. Separately, on August 8, JMP’s Michael King reiterated a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Fein and Michael King have a total average return of 16.1% and -3.4% respectively. Fein has a success rate of 50.7% and is ranked #146 out of 4127 analysts, while King has a success rate of 46.3% and is ranked #3421.
Overall, one research analyst has rated the stock with a Sell rating, 2 research analysts have assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $6.00 which is 8.1% above where the stock closed last Friday.
OvaScience, Inc. engages in the research and development of female infertility treatments. Its portfolio includes AUGMENT, OvaPrime, OvaTure, and OvaXon which intends to improve the female’s egg health and reserve.