Smartphone-based neurobehavioral diagnostic company BlinkLab (BB1: $0.885) has delivered some very good results in the second application of the company's technology, in assessing ADHD in children.
In the first exploratory study against a healthy control arm in 208 subjects in total, the company's technology achieved a sensitivity in the positive arm of 82% and correctly assessing the control arm subjects in 83% of cases (specificity). This is likely as accurate as the test can achieve given the often discordant results that can often be arrived at by two specialists (i.e. the gold standard).
"Diagnosis (of ADHD) is a subjective clinical judgement, and two experienced clinicians assessing the same child often disagree," according to BlinkLab CEO Henk-Jan Boele. "Every test is therefore graded against a benchmark that carries its own error. Seen that way, BlinkLab's 82% sensitivity and 83% specificity sit close to the practical ceiling for any test scored against subjective clinical opinion."
The study was conducted across Mental Care Group clinics in the Netherlands. Two of the key benefits to the BlinkLab technology is that it can deliver an objective assessment, as well as substantially reduce the bottlenecks in clinical diagnosis of neurobehavioral disorders in children. CEO of the Mental Care Group said that the group "eagerly look forward to implementing BlinkLab into our diagnostic workflow."
The BlinkLab technology is being positioned as a tool to be used by clinicians to improve the diagnostic process of ADHD and autism in children and adults. A registration study in pediatric autism is currently underway in the US at 10 sites, with results due by the end of this year.
The company has nine other studies underway, with results due from a further four studies this year expected in adult autism (two studies), early dementia detection, and as a tool for use by pharma in treatment with ketamine (monitoring response to treatment).
In ADHD, the company plans to conduct a pilot study in the US as a precursor to an FDA registrational study in pediatric ADHD.
BlinkLab is capitalised at $135 million, after raising $17.5 million last quarter at $0.65 per share.
Bioshares recommendation: Speculative Buy Class A
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