ResMed shares are falling after scientific trials suggest that patients may be worse off using one of its sleep apnea treatments.
The trials found a “statistically significant” increased risk of cardiovascular mortality when using the Adaptive Servo-Ventilation (ASV) therapy. The cardiovascular mortality rate in the ASV group was 10% per year compared to 7.5% in the control group.
Glenn Richards, ResMed chief medical officer, said: “We are further analysing the data to understand why this unexpected result was observed in this trial.”
ResMed shares have been under pressure since it announced weaker results, posting a 1% rise in net revenue to $91 million for the March quarter. The result was on 6% rise in revenue to $422.5 million.
The company has been building devices and treatments for sleep-disordered breathing, chronic obstructive pulmonary disease and other chronic diseases for more than 25 years.
Its shares have been trading down 18% to $6.765.