Guess which small cap ASX stock is rising on ‘watershed moment’ in the US

Epiminder Ltd (ASX: EPI) shares are racing higher on Monday morning.

At the time of writing, the small cap ASX stock is up 3% to 95 cents.

Why is this small cap ASX stock jumping?

Investors have been buying the epilepsy monitoring technology company’s shares after it made a big announcement.

According to the release, the first implant of the Minder System in the United States has been achieved.

The Perelman School of Medicine at the University of Pennsylvania, which is the first site to join the Diagnosing Epilepsy To Effect Change (DETECT) study, has enrolled and implanted the first study patient.

But it may not stop there. The small cap ASX stock has revealed that four other sites have enrolled for the study and are actively recruiting patients. This includes the Mayo Clinic Rochester, Mayo Clinic Jacksonville, Mayo Clinic Phoenix, and Beth Israel Deaconess Medical Center.

What is the DETECT study?

The DETECT study is the first randomised controlled trial to compare patients who are implanted with Minder to standard of care monitoring. This is to identify clinically actionable events in patients with drug-resistant epilepsy.

In the six-month study, 210 patients will receive the implant at up to 25 sites in the United States.

The small cap ASX stock notes that the goal of the study is to demonstrate that continuous EEG monitoring is superior to using standard of care in identifying clinically actionable events in patients with drug-resistant epilepsy.

‘A watershed moment’

Epiminder’s CEO, Rohan Hoare, was very pleased with this major milestone. He said:

This first US implant of our Minder device marks a watershed moment for Epiminder and the global epilepsy community. We are excited to take the next step in translating years of rigorous scientific development and clinical validation into real-world impact for patients who have exhausted traditional monitoring options. Dr. Ganguly and her team at Penn Medicine represent the exceptional clinicians who will help us begin to unlock Minder’s full potential.

Their expertise and dedication to advancing drug-resistant epilepsy care embody exactly why we built this device. Consistent with our commercialization strategy, with each patient enrolled in DETECT, we move closer to our mission: empowering clinicians with objective, continuous brain activity data and ultimately providing the 52 million people living with epilepsy worldwide with the answers, insights, and hope they deserve. This study is just the beginning of what we believe will be a fundamental transformation in how the world diagnoses and manages epilepsy.

The post Guess which small cap ASX stock is rising on ‘watershed moment’ in the US appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.