Shares of medical technology company Axogen experienced a significant increase in after-hours trading following the announcement that their clinical study of the Axoguard Nerve Cap has successfully met its primary endpoint.
After the announcement, shares reached a high of $9.22 before experiencing a slight decline. By 5:22 p.m. EST on Thursday, the stock was trading at $8.48, indicating a 4.1% gain. During the regular session, shares closed at $8.14, also reflecting a 4.1% gain.
The topline results of the Repose clinical study demonstrated “non-inferiority between the pain visual analog scale outcomes for neurectomy with Axoguard Nerve Cap vs. standard-of-care neurectomy at month 12,” according to the company’s statement. Additionally, further data analysis revealed that over the course of the 12-month follow-up, patients in the Axoguard Nerve Cap group experienced statistically superior reduction in total reported pain compared to those in the standard-of-care neurectomy group.
This significant achievement in the clinical study has sparked optimism among investors and industry experts, highlighting the potential of Axoguard Nerve Cap in improving patient outcomes in neurectomy procedures.
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