Xtent, Inc.’s (XTNT) Custom NX drug eluting stent (DES) Systems treats coronary artery disease (CAD), the leading form of cardiovascular disease and major cause of death in the U.S. and Europe. CAD accounts for over 650,000 annual deaths and affects over 13 million people in the U.S.
The company received CE mark approval for the product. However, commercialization of the product in Europe may be delayed due to the company’s shortage of funds.
As such, we lowered our near-term revenue estimates and downgraded this stock to a Sell.Zacks Investment Research
