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European equities traded in the US as American depositary receipts were moving higher late Friday morning, rising 0.82% to 1,443.36 on the S&P Europe Select ADR Index. The gain is helping the index end the week 1.2% higher.
From continental Europe, the gainers were led by biotech firm BioNTech (BNTX) and biopharmaceutical firm Genfit (GNFT), which climbed 13% and 4.7%, respectively. They were followed by biotech firm Evaxion Biotech (EVAX) and pharmaceutical firm Ascendis Pharma (ASND), which increased 3.4% and 2.7%, respectively.
The decliners from continental Europe were led by biopharmaceutical company Cellectis and accommodations booking site trivago , which fell 2.1% and 1.1%, respectively. They were followed by telecommunications company VEON and medical device maker EDAP TMS (EDAP), which were off 0.8% and 0.5%, respectively.
From the UK and Ireland, the gainers were led by biopharmaceutical companies TC Biopharm and Akari Therapeutics (AKTX), which rose 7.1% and 5.6% respectively. They were followed by biopharmaceutical company Adaptimmune Therapeutics and cruise line operator Carnival , which were up 3.2% and 2.7% respectively.
The decliners from the UK and Ireland were led by biopharmaceutical companies Mereo BioPharma Group and Bicycle Therapeutics , which fell 2.2% and 2% respectively. They were followed by alcoholic beverage company Diageo and biotech firm Trinity Biotech , which were down 1.5% and 0.6% respectively.
European equities traded in the US as American depositary receipts were treading water late Thursday morning, nudging 0.1% lower to 1,424.33 on the S&P Europe Select ADR Index.
From continental Europe, the gainers were led by internet browser company Opera and internet ad agency Criteo , which rose 2.8% and 2%, respectively. They were followed by Sequans Communications S.A. and biopharmaceutical company Cellectis , which were up 1.7% and 1.3%, respectively.
The decliners from continental Europe were led by furniture maker Natuzzi (NTZ) and biotech firm Evaxion Biotech (EVAX), which fell 6% and 3% respectively. They were followed by biotech firm BioNTech (BNTX) and biopharmaceutical company Grifols , which were up 2.7% and 2.3%, respectively.
From the UK and Ireland, the gainers were led by biopharmaceutical company TC Biopharm and cruise line operator Carnival , which advanced 16% and 3.7%, respectively. They were followed by alcoholic beverage company Diageo and biopharmaceutical company Bicycle Therapeutics , which increased 2.6% each.
The decliners from the UK and Ireland were led by biotech firm Autolus Therapeutics and biopharmaceutical company Amarin , which fell 2.8% and 2%, respectively. They were followed by biopharmaceutical company Mereo BioPharma Group (MREO) and pharmaceutical company AstraZeneca (AZN), which were down 1.7% each.
European equities traded in the US as American depositary receipts were moving lower late Wednesday morning as the S&P Europe Select ADR Index was down 0.31% to 1,406.11.
From continental Europe, the gainers were led by biopharmaceutical companies Grifols and Cellectis , which rose 5% and 3%, respectively. They were followed by biotech firm Evaxion Biotech and biopharmaceutical company Genfit , which were up 2.8% and 2%, respectively.
The decliners from continental Europe were led by furniture maker Natuzzi and biopharmaceutical company DBV Technologies , which dropped 5.7% and 3.8%, respectively. They were followed by medical device maker EDAP TMS and telecommunications company Ericsson , which fell 2.8% and 2.1%, respectively.
From the UK and Ireland, the gainers were led by biopharmaceutical company Verona Pharma , which increased 3.2%, followed by biopharmaceutical company Bicycle Therapeutics and telecommunications operator Vodafone Group , which rose 0.8% each, while biopharmaceutical company Akari Therapeutics was up 0.6%.
The decliners from the UK and Ireland were led by biopharmaceutical companies TC Biopharm and Biodexa Pharmaceuticals , which lost 8.9% and 5.7%, respectively. They were followed by biopharmaceutical companies NuCana and Amarin , which were down 5.4% and 3.9%, respectively.
European equities traded in the US as American depositary receipts were moving sharply lower late Tuesday morning, falling 1.21% to 1,404.91 on the S&P Europe Select ADR Index.
From continental Europe, the gainers were led by biopharmaceutical company DBV Technologies and biotech firm BioNTech , which rose 2.6% and 2.3%, respectively. They were followed by semiconductor company Sequans Communications and furniture maker Natuzzi , which were down 1.5% and 1.4%, respectively.
The decliners from continental Europe were led by telecommunications company VEON and medical device maker EDAP TMS , which retreated 6.9% and 3.5%, respectively. Biopharmaceutical firm Grifols lost 3.3% and financial services company Banco Santander was down 2.8%.
From the UK and Ireland, the gainers were led by biopharmaceutical companies Akari Therapeutics and TC Biopharm , which advanced 8.5% and 3.9%, respectively. They were followed by biopharmaceutical companies Bicycle Therapeutics (BCYC) and Mereo BioPharma Group (MREO), which rose 3.6% and 2.3%, respectively.
The decliners from the UK and Ireland were led by financial services companies Barclays and Lloyds Banking Group , which fell 3% and 2.8%, respectively. Biopharmceutical company NuCana was down 2.6% and financial services company HSBC lost 2.3%.
Trinity Biotech plc TRIB recently provided an update on its continued development of its glucose biosensor technology. Earlier this year, the company was granted a European patent for a novel method that enhances the performance of its glucose biosensor. Recent testing of this patented process has confirmed its effectiveness in improving the performance of the sensor.
Trinity Biotech intends to use this breakthrough process to stabilize and improve the functionality of its glucose biosensor in its next-generation continuous glucose monitor (CGM) technology.
Shares of TRIB went down marginally by 0.05% in pre-market trading today following the news. However, as the company is gaining a high level of synergies from its continued development within the CGM market, this latest development might prove fruitful in strengthening its foothold in this space. Accordingly, we expect market sentiment to recover shortly.
Significance of Trinity Biotech’s Patented Process
CGMs are small patch-like wearable medical devices that use biosensor wires under the skin to measure glucose in real time. Generally, these devices experience a “run-in” or “settling” period immediately after their insertion. During the run-in period, glucose readings are unreliable.
Trinity Biotech’s patent describes a unique process within the company’s reusable transmitter unit that “conditions” the CGM biosensor wire. This conditioning process significantly reduces this run-in time, enabling reliable measurements more quickly.
Additionally, the conditioning process has demonstrated notable improvements in the accuracy of the CGM device compared to laboratory reference methods for blood glucose testing. The process also improves the biosensor’s mean absolute relative difference, which is the standard measure of accuracy used to compare CGM devices.
More on the News
The technology covered by this patent represents a major advancement for the company’s CGM platform. The CGM technology, which Trinity Biotech acquired in January, has a unique self-inserted biosensor wire.It poses strong advantages in terms of affordability and sustainability.
The patented conditioning process will likely play an important role in further enhancing the CGM technology toward a more user-friendly and self-calibrating device. Along with other refinements to the biosensor, its wire design will be further evaluated in the upcoming pre-pivotal trials to create an optimized CGM that can be rapidly introduced into global markets.
Industry Prospects Favor Trinity Biotech
Per a Coherent Market Insights report, the global CGM device market was valued at $5.89 billion in 2022 and is expected to reach $12.51 billion by 2030, at a CAGR of 9.9% during the period.
The market’s growth is fueled by rising diabetes awareness and the increasing prevalence of diabetes among the population. The worrisome rise in the number of overweight and obese people around the world is expected to boost demand for CGM devices.
Recent Development by Trinity Biotech
In May, Trinity Biotech made a strategic collaboration with PulseAI to enhance the former’s recently acquired CGM biosensor technology. Under the collaboration, PulseAI has access to Trinity Biotech’s unique multi-parameter CGM database. Further, the data is used to design and implement Trinity Biotech’s AI-driven health & wellness analytics platform. This platform is a key component in Trinity Biotech’s CGM solution.
Price Performance of Trinity Biotech
Year to date, shares of TRIB have lost 17.4% against the industry’s 8.5% growth.
TRIB’s Zacks Rank and Other Key Picks
TRIB currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are Intuitive Surgical ISRG, TransMedics Group TMDX and Boston Scientific BSX. While Intuitive Surgical and TransMedics sport a Zacks Rank #1 (Strong Buy) each, Boston Scientific currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s shares have surged 58.6% in the past year. Estimates for the company’s earnings have remained constant at $6.67 per share for 2024 in the past 30 days.
ISRG’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 48.1% to $1.20 in the past 30 days. Shares of the company have risen 134% in the past year compared with the industry’s 12.8% growth.
TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for Boston Scientific’s 2024 EPS have increased 1.7% to $2.40 in the past 30 days. In the past year, shares of BSX have risen 51.5% compared with the industry’s 15.5% growth.
In the last reported quarter, BSX delivered an earnings surprise of 6.90%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.18%.
Zacks Investment Research
Trinity Biotech PLC TRIB.O:
TRINITY BIOTECH PROVIDES AN UPDATE ON THE CONTINUED DEVELOPMENT OF ITS CONTINUOUS GLUCOSE MONITOR TECHNOLOGY
Source text for Eikon: (Full Story)
Further company coverage: TRIB.O
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