GOLETA, Calif. - Inogen, Inc. (NASDAQ:INGN), a medical technology company, announced today results from a study in "Pulmonary Therapy" indicating that portable oxygen concentrators (POCs) may increase patient survival and offer a favorable cost-effectiveness ratio compared to traditional long-term oxygen therapy systems. The research used data from the French national healthcare system, covering over 244,000 patients on long-term oxygen therapy from 2013 to 2020.
The study, which is one of the largest of its kind, found that the use of POCs, either alone or alongside other oxygen delivery methods, was linked to better survival rates. Hospitalizations and specialist visits were similar among patients using POCs and those using stationary concentrators, compressed tanks, or liquid oxygen. Furthermore, POCs were deemed cost-effective based on the incremental cost-effectiveness ratio (ICER).
A secondary analysis within the POC user group revealed two sub-groups based on device autonomy, defining higher mobility (with device autonomy greater than 5 hours) and lower mobility (with autonomy less than 5 hours). Patients using Inogen devices, classified in the higher mobility sub-group, experienced better survival, lower healthcare resource utilization, and reduced costs compared to the lower mobility sub-group.
Kevin Smith, President and CEO of Inogen, expressed pride in the study's confirmation of the benefits associated with portable oxygen concentrators, particularly those manufactured by Inogen. He stated that the company has always believed in the positive health outcomes and quality of life improvements associated with mobile oxygen therapies. Inogen intends to further the adoption of its POCs to enhance patient experiences
InvestingPro Insights
Inogen, Inc. (NASDAQ:INGN), while advancing medical technology and potentially improving patient outcomes with its portable oxygen concentrators, presents a mixed financial picture according to recent data. The company's market capitalization stands at a modest $198.52 million, reflecting its position in the market. Inogen's commitment to innovation and patient care is evident, yet InvestingPro Tips suggest that the company is trading at a low revenue valuation multiple and holds more cash than debt, which could be attractive to value investors seeking companies with a solid balance sheet.
Financially, Inogen has not been profitable over the last twelve months, as indicated by a negative price-to-earnings (P/E) ratio of -3.41. This metric underscores the challenges the company faces in reaching profitability. Nonetheless, Inogen's liquid assets exceed its short-term obligations, which may provide some financial stability as it strives to capitalize on the positive findings of its recent study. Despite the lack of profitability, investors have shown optimism in the company's stock, with a strong return over the last month of 16.08% and an even more impressive six-month price total return of 45.1%.
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