The results from EBR Systems' (EBR: $0.905) pivotal study will be presented at the Heart Rhythm 2023 meeting this weekend. EBR is holding a webinar this Monday morning to discuss the results.

EBR is developing the world's only wireless pacing system for regulating the function of the left ventricle. In combination with wireless pacemakers for the right ventricle, it offers a potential wireless pacing of both sides of the heart, removing the necessity for leads, which are one of the main points of failure for these devices.

The company completed recruitment of 183 patients in June last year. If results from this study are positive, the company intends to file the product for approval with the FDA this year and launch US sales in 2024.

EBR Systems finished the March quarter with $84 million in cash. It has a market capitalisation of $245 million.

Bioshares recommendation: Speculative Buy Class A