Why the Impedimed (ASX:IPD) share price will be on watch today

The Impedimed Limited (ASX: IPD) share price will be closely watched by investors this morning after the medical technology company announced it has concluded its long-running Prevent trial.

| More on:
asx share price on watch represented by group of prople all looking through magnifying glasses

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Impedimed Limited (ASX: IPD) share price will be closely watched by investors this morning. This comes after the medical technology company announced that it has concluded its long-running Prevent trial.

At the closing bell yesterday, the Impedimed share price finished the day flat at 13 cents.

What did Impedimed announce?

It will be interesting to see which way the Impedimed share price moves today following the latest news.

According to the release, Impedimed advised that all Prevent trial patients have completed their follow-up visits. All 10 participating sites are now closed and the data gathered from the trial is currently being compiled. The company highlighted that study investigators have commenced their work on a manuscript. The paper is due to be submitted for initial journal review before the end of next month.

The Prevent trial is an international study of 1,100 patients across the United States and Australia. In partnership with 10 medical centres, it is the largest randomised controlled study on patients at risk of lymphoedema. Recruits included breast cancer survivors who are at risk of developing secondary lymphoedema in their arms through their treatment. The trial was conducted over six and half years with patients followed up for three years.

Impedimed noted that the study aimed at understanding if detecting extracellular fluid build-up through a bioimpedance spectroscopy device would reduce the rate of lymphoedema progression, followed by early intervention. This was compared with using a measuring tape to identify extracellular fluid accumulation.

What did management say?

Impedimed managing director and CEO Mr Richard Carreon commented on finishing the trial:

We are pleased to reach this important milestone and expect the results to demonstrate improved outcomes when L-Dex is used to monitor patients at risk of lymphoedema. We believe the release of the results of the PREVENT trial, together with the recent meta-analysis results, will again further our case with both the NCCN and Private Payors.

How has the Impedimed share price performed?

The Impedimed share price reached a recent peak of 18.5 cents in November, before scuttling down to 13 cents.

The company's shares spent most of 2020 hovering below the 10-cent mark, however they have since gained traction. On current prices, Impedimed has a market capitalisation of $163 million.

Motley Fool contributor Aaron Teboneras 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.

More on Share Market News

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a rough day of trading this Tuesday.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Market News

ASX 200 takes the latest RBA interest rate verdict in stride

The ASX 200 looks to have shaken off today’s RBA interest rate call.

Read more »

A mature-aged couple high-five each other as they celebrate a financial win and early retirement
Share Gainers

Why this ASX 300 stock is soaring 12% after a disastrous year

This company has had a dramatic reversal of fortunes this Tuesday...

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Core Lithium, Imugene, Lifestyle Communities, and Mineral Resources shares are charging higher

These shares are having a good session. What's going on?

Read more »

A miner stands in front oh an excavator at a mine site
Broker Notes

Broker says buy the dip on ASX 200 uranium share with 69% upside

Shaw and Partners says this ASX uranium stock is trading at an attractive price point right now.

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Domino's, Lynas, Paladin Energy, and St Barbara shares are sinking today

These shares are having a tough session. What's going on?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

4 ASX All Ords shares up 315% to 682% in a year!

Investors have sent these ASX All Ords shares flying higher. But why?

Read more »

Woman on a swing at a beach, symbolising passive income.
Dividend Investing

Overinvested in Fortescue shares? Here are two alternative ASX dividend stocks

Let’s unearth some other passive income opportunities.

Read more »