BSX Stock Nears 14-Year High, Up ~1.5% on FDA Eluvia Approval

Today, Boston Scientific (BSX) stock jumped on news of the FDA approval of its drug-eluting vascular stent system Eluvia for PAD (peripheral artery disease) treatment. The stock was trading near a 14-year high, and it registered a 52-week high of $38.48 today. The stock opened ~0.48% higher than its previous trading day’s closing price of $37.82. During afternoon trading, BSX stock was up ~1.5%.

Last week, on September 22, Boston Scientific released positive 12-month data from the imperial trial of its Eluvia stent and reported better performance compared to Cook Medical’s Zilver PTX drug-eluting peripheral stent. The FDA approval received today is based on these study results.

Currently, the stock is trading above its 50-day moving average of $35.30 and its 200-day moving average of $31.69.

Boston Scientific’s Eluvia DES (drug-eluting stent) is a self-expanding stent built on the Innova Stent System platform. It’s designed for use in the proximal popliteal and superficial femoral arteries. According to the company, the Eluvia stent “utilizes a drug-polymer combination to offer sustained release of the drug paclitaxel for a one-year timeframe, designed to prevent tissue regrowth that might otherwise block the stented artery.”

Boston Scientific’s Eluvia stent is CE Marked. It received approval in Europe in 2016. 

As per Boston Scientific, nearly 8.5 million people suffer from PAD (peripheral artery disease) in the United States.

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