0602 GMT [Dow Jones] The impact on Resmed (RMD.AU) of recent negative trial results may be broader than investors expect. Shares in the sleep apnea device maker fell sharply after the trial known as SERVE-HF found its Adaptive-Servo Ventilation treatment may increase the risk of death among a specific group of heart-failure patients. "We believe SERVE-HF will impact prescribing behaviour more broadly than its direct study population," says Macquarie in a research note, warning doctors will also be more hesitant to start Positive Airways Pressure therapy. Downgrades stock to Underperform from Neutral. "We also see risk that the large upcoming studies examining Continuous Positive Airways Pressure outcomes may not deliver the positive results we believe the market has baked-in," the broker adds. ([email protected]; @beckthurlow)
RMD Price at posting:
$7.69 Sentiment: None Disclosure: Not Held
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