Medical Developments share price boosted by Penthrox trial

Melbourne based Medical Developments International (ASX:MVP) believes the launch of its Penthrox Inhaler into the Australian dentistry market caused a share price rise from $0.745 on June 24, to $0.87 on June 27, prompting the ASX to issue the company with a 'speeding ticket'.

The Penthrox Inhaler is a pain-relieving device, which delivers analgesic methoxyflurane directly to patients via a distinctive green whistle. The device is already widely used by paramedics and ambulance services in Australia, as well as by the Australian defence forces and extreme sporting teams for pre-hospital or emergency pain relief.

In its response to the ASX, Medical Developments International (MDI) said that the launch of Penthrox via a presentation to dentists at the Royal Melbourne Dental Hospital on 23 June was well received and will be followed by a national lecture series and conference presentations.

"The trial that was undertaken... was not to test the safety or the efficacy of the drug, because it's already registered with the TGA. It's got 30 years of safe use, that wasn't necessary," MDI managing director Chris Weaver told Australian Biotechnology News.

Instead, the trial was designed to determine how useful Penthrox would be in dentistry and how acceptable it would be for the patients, said Weaver.

The trial found that 97 per cent of patients felt more relaxed during a disliked section of treatment, that 97 per cent want Penthrox in future dental appointments and for 88 per cent of the patients nervousness decreased. The trial was conducted on 38 patients.

"The ambulance market here is worth about $3 million to us," said Weaver. "The figure that we quoted at the presentation on the 25 May was if one fifth of the dentists in Australia used it once a day, the market would be about three times the ambulance market."

At the time of writing, MDI's shares were trading at $0.79.