Farapulse approval coming sooner than expected for Boston Scientific, says BTIG

After Boston Scientific announced that they now anticipate U.S. FDA approval of the Farapulse Pulsed Field Ablation, or PFA, System in the first quarter of 2024, BTIG notes this is ahead of the company’s prior expectation of the second half of 2024. The firm, which thinks FDA approval is derisked following the positive data from the ADVENT pivotal study, notes that Farapulse will be the second approved PFA system in the U.S. following Medtronic’s (MDT) approval for their PulseSelect system earlier this month. The firm keeps a Buy rating and $64 price target on Boston Scientific shares and remains “bullish on Farapulse.”