The DOW dropped by over a hundred points on Monday as the broad markets failed to ward off jitters of a weakening global economy and additional economic chaos in Europe sparked by the threat of Spain and Greece each needing additional bailouts. These fears were already lingering in the minds of investors for weeks, but a weak quarterly report by McDonald's (MCD) on Monday brought these concerns to the forefront and sparked a widespread sell-off.
There were some winners out there, though. Implant Sciences (IMSC) managed a five percent jump amid the madness as the company received some key media coverage highlighting the potential of the company's products to lead the next wave of providing airport security while Synergy Pharmaceuticals (SGYP) also spent the majority of the day trading higher after last week's merger announcement.
Additionally, as noted earlier, a couple of high profile FDA approval dates are pending for this week, with both Amarin Corp (AMRN) and Horizon Pharma (HZNP) slated to receive word from the FDA on the 26th. Both stocks held up well during the downturn as Horizon jumped by seven percent while Amarin, after nice high-volumed early morning boost, closed the day at just under even.
Sunshine has retreated back to the ten dollar mark over the past few trading sessions after having ran from roughly three dollars to over seventeen in a short period of time, but SSH was on the move again to open the new trading week after announcing a positive two year review of the first patient to have been implanted with the company's C-Pulse heart assist system in conjunction with its North America feasibility trial, which is testing the device in the treatment of Class III and Ambulatory Class IV heart failure. Enrollment for the trial was completed in June of last year, so data should roll in swiftly enough to keep the company on its expected timeline of initiated a key definitive trial in the US later this year, right around the same time that the company could register its first commercial sales in Europe, pending the outcome of the CE Mark approval for which Sunshine has sought.
According to Sunshine's Monday press release, Dr. Andrew Kao, Heart Failure Cardiologist at St. Luke's Hospital in Kansas City, MO, noted the following in regards to the subject patient receiving the two year review:
"I witnessed this patient experience an amazing recovery of function. The first time I met him, he could not walk or even say a few words without extreme perspiration and shortness of breath. After C-Pulse implantation, he can do many more activities -- he can walk around comfortably and also has improved self-confidence."
Additionally, Sunshine also emphasized the positive trends in both efficacy and safety in regards to the six and twelve month follow-ups and noted that, thus far in clinical development, the C-Pulse system has proven to be more effective than current standards of treatment.
The C-Pulse technology falls well in line with today's healthcare trends of finding cheaper and more effective ways to treat what have previously been known to be very expensive and invasive conditions. C-Pulse is implanted with a minimally-invasive procedure, which alone cuts monetary costs in relation to surgery and recovery. The system has also thus far demonstrated that it can reduce the number of a patient's required visits to the doc while also enabling the target patient group to avoid the extended hospital stays that often accompany treatment - factors that help to reduce monetary costs behind treatment.
Another benefit is that the device is implanted outside of the blood stream, which offers extra convenience and quality-of-life improvements for a patient who is able to 'disconnect' the device at will, in order to shower, for example.
Volume has increased significantly, as well as price, and Sunshine has enough pending catalysts and past successes to keep this one on the radar.
Also keep this one on the list of potential buyout plays as C-Pulse could be a game-changer in the treatment of heart failure, should the encouraging results keep up.
Disclosure: Long AMRN, IMSC.
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