WAYNE, Pa. - Teleflex Incorporated (NYSE:TFX), a global provider of medical technologies, today shared data from recent studies that highlight the safety and efficacy of the Barrigel™ rectal spacer in prostate cancer radiation therapy. The findings were presented at the American Society for Radiation Oncology (ASTRO) 2024 Annual Meeting held from September 29 to October 2, 2024.
The studies focused on the use of Barrigel™, a hyaluronic acid-based rectal spacer designed to protect the rectum from radiation exposure during treatment for prostate cancer. Unlike other spacers that harden immediately, Barrigel™ remains malleable, allowing for real-time adjustments and optimization of rectal protection.
In the Australian experience, data from 100 men undergoing radiation therapy with Barrigel™ showed low incidence of rectal wall infiltration (RWI), which occurred in only 0.32% of cases. These instances were successfully reversed with the enzyme hyaluronidase, without subsequent adverse effects. No acute or late gastrointestinal toxicity greater than Grade 2 was reported.
Additionally, a retrospective analysis of 5,000 Australian men receiving Barrigel™ indicated that the risk of RWI is rare and reversible, with no severe adverse complications reported. The presence of RWI led to a median delay of 3.2 months in starting radiation therapy for 11 men.
Another study demonstrated the feasibility of using Barrigel™ in 17 men undergoing repeat radiation therapy for prostate cancer, with a 100% success rate in spacer placement and no adverse events. No greater than Grade 1 gastrointestinal toxicity and only one case of Grade 3 hemorrhagic cystitis were reported, which was also experienced during initial radiation therapy.
Barrigel™, which is approved for use in the United States, Australia, and Europe, offers a significant reduction in unwanted side effects from prostate cancer radiation therapy. The product is indicated for patients with T1-T3b prostate cancer.
These studies provide additional evidence supporting the use of Barrigel™ in routine clinical practice, with its ability to be safely dissolved if incorrectly placed, distinguishing it from other spacers in the market. This information is based on a press release statement from Teleflex Incorporated.
In other recent news, Teleflex Incorporated reported slight growth in its second-quarter 2024 earnings and revenue. The medical technologies provider recorded revenues of $749.7 million, a 0.9% year-over-year increase. When adjusted for the Italian payback measure, the revenues stood at $763.5 million, marking a 2.7% rise. The company's adjusted earnings per share also saw a minor 0.3% growth, reaching $3.42.
In addition to the earnings report, Teleflex's Executive Vice President and Chief Financial Officer, Thomas E. Powell, has initiated a prearranged stock trading plan. The plan permits the sale of up to 53,754 shares of Teleflex's common stock, approximately 31% of Mr. Powell's total ownership in the company. The sales under the plan will commence in December 2024 and will be executed on the open market.
Teleflex has also raised its 2024 revenue guidance for Palette Life Sciences to $70-72 million and initiated a $500 million share repurchase program. Furthermore, the company increased its 2024 adjusted constant currency revenue growth guidance to 4.25% to 5.25%. These recent developments reflect the company's ongoing activities and strategic planning.
InvestingPro Insights
Teleflex's recent presentation of positive data for its Barrigel™ rectal spacer at the ASTRO 2024 Annual Meeting aligns with the company's strong market position and financial health. According to InvestingPro data, Teleflex boasts a market capitalization of $11.08 billion, reflecting its significant presence in the medical technology sector.
The company's revenue growth of 3.76% over the last twelve months, coupled with a gross profit margin of 55.87%, underscores its ability to generate value from its innovative products like Barrigel™. This financial performance supports Teleflex's ongoing investment in research and development of medical technologies.
InvestingPro Tips highlight that Teleflex has maintained dividend payments for 48 consecutive years, demonstrating a commitment to shareholder returns alongside its focus on product innovation. This long-standing dividend history may appeal to investors looking for stability in the healthcare sector.
Additionally, analysts predict that Teleflex will remain profitable this year, which is consistent with the positive clinical outcomes and market potential of products like Barrigel™. The company's liquid assets exceeding short-term obligations further reinforces its financial stability and capacity to fund ongoing research and product development.
For investors seeking a deeper understanding of Teleflex's financial health and growth prospects, InvestingPro offers 8 additional tips, providing a comprehensive analysis to inform investment decisions in this innovative medical technology company.
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