The Anteris Technologies Ltd (ASX: AVR) share price rose a jaw-dropping 23% today after an online investor presentation yesterday.
The healthcare company opened the day at $5.85 and idled until an incredible rally just after midday shot the share price to $6.86. At the time of writing, Anteris shares have dipped slightly to $6.79.
What does Anteris do?
Anteris, formerly known as Admedus Ltd, is a medical company that focuses on designing and manufacturing heart valves. Its next-generation technology re-engineers xenograft tissue into pure collagen scaffold, helping surgeons replace valves for patients during surgery.
What did Anteris showcase in its investor presentation?
Wayne Paterson, CEO and Managing Director of Anteris, presented 3 technologies to investors that the company is working on.
The first and oldest is an anti-calcification treatment platform called ADAPT. In his presentation, Mr Paterson claimed up to 20,000 people around the world have ADAPT technology inside their bodies at present.
DurAVR was the second technology showcased. DurAVR stands for Durable Aortic Valve Replacement. Unlike other valve systems, which are made from three tissue pieces sewn together, DurAVR is a single 3D valve model inserted into the patient.
The third technology is a catheter that is balloon expandable.
Mr Paterson also announced that the company should soon have a Food and Drug Administration (FDA) study approved regarding its DurAVR technology. He also claimed competitor valves could not go more than 150 million cycles while DurAVR had been recorded lasting as long as 700 million cycles. One cycle is the equivalent to one human heartbeat. 200 million cycles (the equivalent of 5 years inside the body) are required for a valve replacement to obtain FDA approval.
Anteris share price history
The Anteris share price has a volatile history, regularly going through periods of peaks and troughs.
In 2004 the share price was over $200 and as recently as 2016 was at or near $100. Anteris shares have been in long-term decline since. However, the share price has rallied over the past week and has been on a small upward trajectory from the beginning of 2021.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- Why the Anteris (ASX:AVR) share price will be on watch today
Motley Fool contributor Marc Sidarous 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 Bruce Jackson.
The post Why the Anteris Technologies (ASX:AVR) share price soared 23% today appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3urSod1
Leave a Reply