NMT Medical Falls After Trial Misses Primary Endpoint (NMTI)

Shares of NMT Medical Inc. NMTI are lower on the session by 5.04%, currently trading at $2.45. The stock has been cascading lower over the past four months after a high-volume rally in mid-March. NMT Medical Inc. announced today that it has “received preliminary results for CLOSURE I, its patent foramen ovale (PFO)/stroke and transient ischemic attack (TIA) trial in the U.S.” CLOSURE I is the first fully enrolled, randomized clinical trial to “evaluate the effectiveness of PFO treatment in preventing recurrent strokes and TIAs. Analysis of the data for CLOSURE I commenced in April 2010.” Business Wire is reporting that “the preliminary results of CLOSURE I data analysis indicate that the trial did not achieve its primary endpoint: to demonstrate that treatment by device closure with the STARFlex(R) technology is superior to the current best medical therapy for preventing recurrent strokes and TIAs. However, the preliminary results indicate that closure with STARFlex(R) provided a small, but not statistically significant, benefit over current best medical therapy.” NMT Medical, Inc. is a medical technology company that designs, develops, manufactures and markets implant technologies that enables interventional cardiologists to treat structural heart disease, through catheter-based procedures.