EnteroMedics Inc (NASDAQ:ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced the publication of results from the Company’s ReCharge Study on the effect of vBloc® Neurometabolic Therapy in patients with moderate obesity with an obesity-related comorbid condition. In this population, patients saw 74% greater weight loss with vBloc therapy compared to a rigorous sham control, resulting in an average loss of 33% of excess weight at 12 months. Further, three quarters of patients lost at least 20% of their excess weight and a quarter lost at least 50%. The publication, entitled “Effect of Vagal Nerve Blockade on Moderate Obesity with an Obesity-Related Comorbid Condition: The ReCharge Study,” was published in the journal Obesity Surgery and is available online here.
vBloc therapy is approved for use in helping with weight loss in people aged 18 years through age 65 who are obese, with a Body Mass Index (BMI) of 40 to 45 kg/m2, or a BMI of 35 to 39.9 kg/m2 with a related health condition such as high blood pressure or high cholesterol levels.
“Results observed in the moderately obese population provide strong support for vBloc Therapy’s application within this subgroup of patients, many of whom are not willing to undergo, or not appropriate for, more aggressive surgical interventions,” said Scott Shikora, M.D., F.A.C.S., EnteroMedics Executive Vice President and Chief Medical Officer. “We look forward to further understanding how vBloc performs in this population, as we continue to review long-term data derived from ReCharge and other vBloc studies.”
“vBloc Therapy represents a safe and well-tolerated, neuroscience-based approach for the treatment of patients with moderate obesity and related comorbid conditions,” said John Morton, M.D., Chief of Bariatric and Minimally Invasive Surgery at Stanford University School of Medicine. “Its ability to foster clinically meaningful weight loss safely, without changes in anatomy, establishes vBloc as a much needed anatomy sparing alternative to existing treatment options.”
“The moderately obese data from ReCharge, and their publication in Obesity Surgery, highlights an important and meaningful segment of the obesity population for which vBloc Therapy fills a significant unmet need, delivering a safe, effective, durable treatment for obesity and its comorbidities,” said Dan Gladney, EnteroMedics President and Chief Executive Officer. “This population is an important area of focus for our commercial efforts, and one where we believe we can deliver differentiated value to the patient, their physician and payers.”
The ReCharge Pivotal Trial is a prospective, randomized, double-blind, sham-controlled, multicenter clinical trial of vBloc Neurometabolic Therapy in 239 patients with obesity. Of the 162 randomized vBloc participants and 77 sham patients, 53 vBloc and 31 sham patients were defined as moderately obese (body mass index [BMI] of 35-40 kg/m2), with comorbidities at baseline. Percent excess weight loss (EWL), percent total weight loss (TWL) and safety in subjects who attended their 12-month study visit were reviewed. The 12-month visit completion rates were 87 percent in both the vBloc and sham groups.
No serious adverse events occurred in the moderately obese vBloc participants through 12 months. (Original Source)
Shares of Enteromedics are currently trading at $0.98, up $0.035 or 3.71%. ETRM has a 1-year high of $21 and a 1-year low of $0.82. The stock’s 50-day moving average is $1.08 and its 200-day moving average is $2.19.
On the ratings front, Roth Capital analyst Chris Lewis reiterated a Buy rating on ETRM, with a price target of $3, in a report issued on February 17. The current price target represents a potential upside of 185.7% from where the stock is currently trading. According to TipRanks.com, Lewis has a yearly average return of -2.2%, a 43.3% success rate, and is ranked #3133 out of 3777 analysts.
EnteroMedics, Inc. is a clinical development stage medical device company with approvals to commercially launch its product in Australia and the European Economic Area. It’s focused on the designs and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders.