Jul 10th 2012 - Edison Investment Research today published a report on Lombard Medical Technologies (LMT.L, LSE:LMT, LON:LMT) entitled "Positive Pythagoras Data". In summary, the report says:
Data from the US Pythagoras study of Aorfix for repair of abdominal aortic aneurysms (AAA) were presented at the Society of Vascular Surgery annual meeting. The trial reported a non-inferior 12-month mortality rate and a significantly lower incidence of major adverse events versus open surgery. The US market’s acceptance of minimally invasive surgical techniques and Aorfix’s unique application could offer a significant commercial opportunity for Lombard. A £14.2m tranche of equity funding is contingent on 2012 FDA approval, which is on track for Q412. We maintain our valuation at £89m.
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