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Given Imaging rises 6.4% on Spanish trial results
By Shiri Habib-Valdhorn
May 1, 2008, 15:55
Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) rose 6.4% on Nasdaq in after-hours trading yesterday, after announcing a Spanish study, which demonstrated that the company's Agile patency capsule aided physicians in identifying patients with known strictures (areas where the gastroenterological tract has narrowed) whose small bowel patency was sufficient for the PillCam small bowel video capsule to pass. Capsule endoscopy helped physicians diagnose numerous small bowel diseases in these patients.
The study appears in the May edition of "Gastrointestinal Endoscopy". The Agile patency capsule study assessed the ability of the device to identify which patients with known strictures may safely undergo small bowel capsule endoscopy.
The Agile patency capsule is the same size and shape as the PillCam SB video capsule. It includes two timer plugs that seal the dissolvable capsule's body. If the Agile patency capsule is retained in the small bowel, the timer plugs begin to erode after 30 hours, allowing penetration of intestinal fluids and subsequent dissolution of the capsule. The Agile patency capsule is a unique product from Given Imaging. No other product exists solely to determine eligibility for small bowel capsule endoscopy. The US Food and Drug Administration (FDA) approved the device in May 2006.
Given Imaging will publish its first quarter financial report on May 13. The company is expected to raise its profit guidance for the year following the settlement of its patent lawsuit with Olympus Corporation (TSE: 7733; DAX: OLY; Pink Sheets: OCPNY).
Published by Globes [online], Israel business news - www.globes-online.com - on May 1, 2008
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