Hancock Jaffe Laboratories, Inc. (HJLI) took a -7.32% dip on Wednesday after gaining 11.39% in Tuesday trading. The stock surged on the day when progress was reported in its CoreoGraft study. The company shared that first two patients has joined that study. The program was initiated with studies on humans for the first time. HJLI is intending implanting the very first CoreoGraft devices in weeks ahead. The assessment plan is to test the conduits in 5 patients.
The company will perform those first-in-human trials in Paraguayan capital Asuncion at Italian Hospital. Results of the post-surgery study will be available for intervals like month, quarter, half year and annual. Patients with severe coronary artery disease will be selected for said study. And only those who have requirement going through coronary artery bypass grafting (CABG) will be implanted with the CoreoGrafts. Normally such patients have been treated with saphenous vein graft. But that method has high failure rate whether short-term or long-term. HJLI will implant CoreGraft conduit in such patients as a substitute of saphenous vein grafts. After the surgery patients will go through evaluations after each follow-up interval. CoreoGraft implants will be examined for indications leading to any sort of failure. The grafts will be assessed for blood clots, blockages and other issues which could result in its failure.
Hancock Jagge’s CEO Robert Berman expressed optimism while commenting on the study. There have several other targets ahead to be joyful of. And one of them is testing implantation of CoreoGraft in humans. Other milestones include trials of VenoValve in humans. And initiating essential VenoValve trials in the United States is also among those. We have coupled our expertise in clinical innovation with the strong strategic decisions. And this will put the company on the long term success. It will also drive our success story throughout this year and in years to come, Berman said.