Nanosphere, Inc. (Nasdaq:NSPH), a company enhancing medicine through targeted molecular diagnostics, and Scripps Health, a private, nonprofit, integrated health system in San Diego, California, today announced publication of a study that demonstrates the clinical and economic impact of implementing rapid sepsis diagnostic testing with the Company's FDA-cleared Verigene® Gram-Positive Blood Culture Test (BC-GP) in combination with Antimicrobial Stewardship Team (AST) intervention.
This multi-center, pre-post study was conducted at the five hospitals that compose Scripps Health in San Diego, California and published in the peer-reviewed journal Pharmacotherapy.
"The overall goal of antibiotic stewardship is to maximize patient outcomes while minimizing the unintended consequences of antibiotic use," said Maggie Box, PharmD, BCPS-ID, Infectious Disease Clinical Pharmacy Specialist at Scripps Health. "Our study concluded that implementation of Verigene BC-GP with AST intervention can improve time to targeted antibiotic therapy, decrease length of stay, and reduce overall hospital costs in a community-based health care system. By improving time to targeted therapy, rapid diagnostics can help decrease use of unnecessary broad-spectrum antibiotic therapy. By doing this, we hope to decrease a patient's chance of experiencing an adverse consequence of antibiotic therapy and also minimize the emergence of antibiotic-resistant bacteria."
The statistically significant findings included a 25.7 hour reduction in time to targeted therapy (61.1 versus 35.4 hours), a 1.9 day median reduction in length of stay (9.1 versus 7.2 days) and $7,240 reduction in median hospital costs per patient ($17,530 versus$10,290).
"A majority of health care in the U.S. is provided in community-based hospitals. These study findings demonstrate the profound impact on patient care and hospital costs the Verigene System can deliver to a wide spectrum of health care settings," said Michael McGarrity, Nanosphere's president and chief executive officer.
The manuscript, published under the title "Outcomes of Rapid Identification for Gram Positive Bacteremia in Combination with Antibiotic Stewardship at a Community Based Hospital System," was composed by Maggix Box, PharmD, Eva Sullivan, PharmD, Kristine Ortwine, MPH, Mark Parmenter, PharmD, Michael Quigley, MD, Louise Aguilar-Higgins, CLS, MT, Cynthia MacIntosh, CLS, Kristina Goerke, CLS, and Rachael Lim, PharmD.
Pharmacotherapy: The Journal of Human Pharmacology and Drug Therapy, is the official journal of the American College of Clinical Pharmacy. Pharmacotherapy publishes peer-reviewed, innovative scientific and professional information and knowledge that catalyze change to improve patient outcomes through optimal pharmacotherapy. (Original Source)
Shares of Nanosphere closed yesterday at $0.2507 . NSPH has a 1-year high of $2.28 and a 1-year low of $0.22. The stock's 50-day moving average is $0.27 and it's 200-day moving average is $0.41.
On the ratings front, Nanosphere (NASDAQ: NSPH) has been the subject of a number of recent research reports. In a report issued on February 13, Roth Capital analyst Chris Lewis reiterated a Buy rating on NSPH, with a price target of $0.50, which represents a potential upside of 99.4% from where the stock is currently trading. Separately, on February 12, Piper Jaffray's William Quirk downgraded the stock to Hold and has a price target of $0.30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chris Lewis and William Quirk have a total average return of -0.2% and 6.9% respectively. Lewis has a success rate of 47.1% and is ranked #2695 out of 3546 while Quirk has a success rate of 63.6% and is ranked #1356
Nanosphere Inc develops, manufactures and markets molecular diagnostics platform, the Verigene System, which enables sensitive genomic and protein testing on a single platform.