Anteris (ASX:AVR) share price soars 22% on successful human trial

The company’s shares are off to a strong start this week.

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The Anteris Technologies Ltd (ASX: AVR) share price is shooting for the stars in early afternoon trade. This follows the structural heart company’s latest announcement that shows promising signs for its DurAVR THV system.

Anteris, formerly known as Admedus Ltd, is a medical company that focuses on designing and manufacturing heart valves. Its next-generation technology re-engineers xenograft tissue into pure collagen scaffold, helping surgeons replace values for patients during surgery.

At the time of writing, Anteris shares are roaring 18.24% higher to $10.50 after reaching a high of $10.90 earlier in the session. It’s worth noting that in the past month alone, the company’s shares have climbed 26% to a 6-month high.

Anteris successfully implants DurAVR valve

Investors are buying up Anteris shares after the company provided a positive announcement regarding its transcatheter aortic valve replacement (TAVR).

According to its release, Anteris advised it has successfully implanted the DurAVR value to five TAVR patients. The first-in-human study, carried out at the Tbilisi Heart and Vascular Clinic in Tbilisi, Georgia, showed great results.

No complications were detected among the five patients following their treatment. The trial assessed a number of performance and safety endpoints.

Anteris noted an additional five patients are planned for treatment in the first quarter of 2022 to conclude the study.

Anteris chief medical officer Dr Chris Meduri commented:

The meticulous preparation for this study has led to an outstanding set of results and patient outcomes. Not only did the valve performance exceed our very high expectations but the additional aspects of commissural alignment, flow characteristics and haemodynamics were proven to be clinically significant.

We are excited to now add more patients to our studies in 2022.

About the Anteris share price

On the back of today’s incredible gains, the Anteris share price is up by 190% since this time last year. Anteris shares reached a 52-week high of $13.75 in March, before moving in circles for most of 2021.

Based on today’s price, Anteris has a market capitalisation of roughly $95.13 million, with just 8.77 million shares on issue.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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