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Intersect ENT's (XENT) SDS With PROPEL Mini Now in U.S.
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Intersect ENT, Inc. recently announced the U.S. availability of the new Straight Delivery System (“SDS”) packaged with the company’s PROPEL Mini (mometasone furoate) Sinus Implant. Notably, the combined packaging of the SDS with PROPEL Mini received the FDA’s premarket approval (“PMA”), following the PMA for the SDS received in July 2020.
For investors’ note, the company had received the FDA’s approval to market its new PROPEL Mini SDS, designed to facilitate implant placement in the ethmoid sinus, in July 2019.
The recent availability in the United States is expected to significantly boost Intersect ENT’s commercial drug delivery business.
Significance of the Launch
The SDS, which is an extension of the PROPEL family of implants, has been specifically designed for precise, consistent and easy delivery of the PROPEL Mini implant into the ethmoid sinus for maximum tissue apposition. PROPEL Mini, which is a smaller version of PROPEL, is approved for use in both the ethmoid and frontal sinuses. Further, PROPEL Mini is preferentially used by physicians while treating smaller anatomies or following less extensive procedures unlike PROPEL.
Notably, the original curved delivery system will continue to be available with the PROPEL Mini sinus implant. This is expected to offer a suite of options to physicians while using PROPEL Mini following sinus surgery.
Industry Prospects
Per a report by Research Nester, the global nasal implant market was valued at $698.7 million in 2015 and is expected to expand at a CAGR of 6% between 2016 and 2023. Factors like rise in cases of chronic sinusitis and increasing demand for minimally invasive techniques are likely to drive the market.
Given the market potential, the recent U.S. launch seems to have been timed well.
Recent Developments Across Intersect ENT’s Business
Of late, the company has been witnessing few developments across its business.
Intersect ENT, in January this year, announced the receipt of the Centers for Medicare and Medicaid Services’ approval of a revised coding application filed by the company for its family of PROPEL (mometasone furoate) sinus implants used to reduce inflammation and maintain patency following sinus surgery.
The same month, the company in its preliminary fourth-quarter results, confirmed the contribution of VENSURE, an acquired Fiagon product line for sinus balloon dilation (whose U.S. sales have been initiated during the quarter) to its top line. Notably, Intersect ENT’s previously announced acquisition of Fiagon AG Medical Technologies was completed in October 2020.
Intersect ENT, during its third-quarter earnings call in November 2020, observed a strong recovery in quarterly revenues. Notably, a rebound for PROPEL in July 2020 was observed on the back of pent-up demand for FESS procedures, which were delayed due to the pandemic. The company also confirmed entering into an agreement with AllianceRx Walgreens Prime for the national specialty pharmacy distribution of SINUVA.
Price Performance
Shares of the company have gained 25.7% in the past six months compared with the industry’s 12.4% growth and the S&P 500’s 17.5% rise.
Zacks Rank & Key Picks
Currently, Intersect ENT carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Hologic, Inc. (HOLX - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Abbott Laboratories (ABT - Free Report) .
IDEXX’s long-term earnings growth rate is estimated at 15.8%. It currently carries a Zacks Rank #2 (Buy).
Abbott’s long-term earnings growth rate is estimated at 14.1%. The company presently carries a Zacks Rank #2.
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Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Intersect ENT's (XENT) SDS With PROPEL Mini Now in U.S.
Intersect ENT, Inc. recently announced the U.S. availability of the new Straight Delivery System (“SDS”) packaged with the company’s PROPEL Mini (mometasone furoate) Sinus Implant. Notably, the combined packaging of the SDS with PROPEL Mini received the FDA’s premarket approval (“PMA”), following the PMA for the SDS received in July 2020.
For investors’ note, the company had received the FDA’s approval to market its new PROPEL Mini SDS, designed to facilitate implant placement in the ethmoid sinus, in July 2019.
The recent availability in the United States is expected to significantly boost Intersect ENT’s commercial drug delivery business.
Significance of the Launch
The SDS, which is an extension of the PROPEL family of implants, has been specifically designed for precise, consistent and easy delivery of the PROPEL Mini implant into the ethmoid sinus for maximum tissue apposition. PROPEL Mini, which is a smaller version of PROPEL, is approved for use in both the ethmoid and frontal sinuses. Further, PROPEL Mini is preferentially used by physicians while treating smaller anatomies or following less extensive procedures unlike PROPEL.
Notably, the original curved delivery system will continue to be available with the PROPEL Mini sinus implant. This is expected to offer a suite of options to physicians while using PROPEL Mini following sinus surgery.
Industry Prospects
Per a report by Research Nester, the global nasal implant market was valued at $698.7 million in 2015 and is expected to expand at a CAGR of 6% between 2016 and 2023. Factors like rise in cases of chronic sinusitis and increasing demand for minimally invasive techniques are likely to drive the market.
Given the market potential, the recent U.S. launch seems to have been timed well.
Recent Developments Across Intersect ENT’s Business
Of late, the company has been witnessing few developments across its business.
Intersect ENT, in January this year, announced the receipt of the Centers for Medicare and Medicaid Services’ approval of a revised coding application filed by the company for its family of PROPEL (mometasone furoate) sinus implants used to reduce inflammation and maintain patency following sinus surgery.
The same month, the company in its preliminary fourth-quarter results, confirmed the contribution of VENSURE, an acquired Fiagon product line for sinus balloon dilation (whose U.S. sales have been initiated during the quarter) to its top line. Notably, Intersect ENT’s previously announced acquisition of Fiagon AG Medical Technologies was completed in October 2020.
Intersect ENT, during its third-quarter earnings call in November 2020, observed a strong recovery in quarterly revenues. Notably, a rebound for PROPEL in July 2020 was observed on the back of pent-up demand for FESS procedures, which were delayed due to the pandemic. The company also confirmed entering into an agreement with AllianceRx Walgreens Prime for the national specialty pharmacy distribution of SINUVA.
Price Performance
Shares of the company have gained 25.7% in the past six months compared with the industry’s 12.4% growth and the S&P 500’s 17.5% rise.
Zacks Rank & Key Picks
Currently, Intersect ENT carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Hologic, Inc. (HOLX - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Abbott Laboratories (ABT - Free Report) .
Hologic’s long-term earnings growth rate is estimated at 15.4%. The company presently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
IDEXX’s long-term earnings growth rate is estimated at 15.8%. It currently carries a Zacks Rank #2 (Buy).
Abbott’s long-term earnings growth rate is estimated at 14.1%. The company presently carries a Zacks Rank #2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>