Hot stock: QT Vascular inches up on positive enrolment of clinical trials

SHARES of Catalist-listed QT Vascular, a maker of minimally intrusive medical devices, inched up 1.56 per cent, following a Tuesday announcement that enrolment for its clinical trial has exceeded milestones in the fourth quarter of 2014.

On Wednesday morning, its counter gained 0.5 cent to S$0.325.

Enrolment for the first-in-human trial to evaluate the safety and performance of its Chocolate® Touch, has nearly doubled the 30 patient milestone, QT said on Tuesday.

The Chocolate® Touch is a drug-coated peripheral balloon used for the treatment of patients with peripheral arterial disease. It is designed to provide predictable, uniform, and less traumatic dilatation.

QT expects the Chocolate® Touch balloon to receive regulatory approval in Europe in the second half of this year. The company also intends to commercialise the product late this year, said QT CEO Eitan Konstantino.