The Valve Wire

TRANSCATHETER VALVE TECHNOLOGY DIGEST

By E. Nolan Beckett · Week of March 15 - March 21, 2026

 
Weekly research    Summary news    0 regulatory    0 trials

Week in Review

This week delivered transformative developments in structural heart disease, headlined by FDA approval of JenaValve's Trilogy system—the first transcatheter device for severe aortic regurgitation in the U.S. New research revealed concerning durability issues with mitral transcatheter edge-to-edge repair, showing 41% failure rates at 5 years in primary mitral regurgitation patients. TAVR studies demonstrated lower stroke rates than surgery but highlighted measurement discrepancies and kidney injury risks. The landmark SURVIV trial launched to compare transcatheter versus surgical mitral valve-in-valve procedures, while promising early data emerged on tirzepatide therapy for reducing post-TAVR valve dysfunction. Despite clinical advances, valve industry stocks showed mixed performance with several major players experiencing significant declines over the past six months.


Top Stories This Week

JenaValve's Historic FDA Approval for Aortic Regurgitation

[NOTABLE] JenaValve received FDA approval for its Trilogy transcatheter heart valve system, marking the first and only transcatheter device approved for symptomatic, severe aortic regurgitation in the United States. This represents a watershed moment for a challenging patient population historically managed only surgically. However, severe aortic regurgitation presents complex anatomical challenges for transcatheter therapy, with historical concerns about device migration and paravalvular leak. The approval addresses an unmet need but questions remain about patient selection criteria, long-term durability, and real-world performance outside clinical trial settings.

Concerning Durability Data for Mitral Transcatheter Repair

[NOTABLE] A comprehensive durability analysis of mitral transcatheter edge-to-edge repair revealed troubling long-term outcomes, particularly for primary mitral regurgitation. Weighted pooled data from 33 studies showed that 41% of primary MR patients experienced MR recurrence or reintervention at 5 years, with failure rates increasing substantially after 3 years. While secondary MR patients fared better with 17% recurrence rates overall, these durability concerns underscore surgical critics' arguments that transcatheter approaches may not provide the long-term benefits of surgical repair, particularly in younger patients with primary disease.

SURVIV Trial: First Randomized Mitral Valve-in-Valve Study

[NOTABLE] The first randomized trial comparing transcatheter mitral valve-in-valve procedures with surgical redo-mitral valve replacement has been designed. SURVIV will enroll 150 patients with mitral bioprosthetic valve dysfunction, randomizing them 1:1 to transseptal valve-in-valve with balloon-expandable devices versus conventional surgical replacement. This addresses a critical evidence gap, as surgical redo-MVR carries significant mortality in high-risk patients while transcatheter valve-in-valve data lacks randomized comparisons. The study represents the field's maturation toward evidence-based decision-making for complex valve pathology.

TAVR Stroke and Safety Data: Mixed Findings

A comprehensive meta-analysis of 27 studies reveals that TAVR demonstrates significantly lower 30-day stroke rates (3.0%) compared to surgical AVR, with 27% lower odds of stroke in the early period. However, this advantage disappears beyond 30 days. Separately, researchers identified eight independent risk factors for kidney injury after TAVR in the largest meta-analysis to date (34 studies, 10,353 patients), with transapical access conferring a 3.45-fold increased risk. These findings provide important safety data but highlight ongoing procedural risks requiring careful patient selection and perioperative management.

Tirzepatide Shows Promise for Post-TAVR Valve Function

Early findings from the TAVR-MET study suggest that tirzepatide, a GLP-1 receptor agonist, may reduce post-procedural valve dysfunction in TAVR patients. While these preliminary results warrant cautious optimism, the mechanistic rationale for GLP-1 agonists in structural heart procedures remains unclear. This single-center early-phase data requires validation in larger, randomized trials with longer follow-up before influencing clinical practice.


Aortic Valve (TAVR/TAVI)

FDA Approval and New Indications: JenaValve's Trilogy system approval for severe aortic regurgitation expands transcatheter options for this challenging indication. For patients with pure severe native aortic regurgitation, TAVR shows an 87.5% device success rate in a meta-analysis of 2,773 patients, though with concerning variability in outcomes and 3.1% perioperative mortality.

Virtual Reality and Planning: A systematic review of 30 studies found that virtual reality technology improved spatial understanding in TAVR procedures and prompted plan modifications in 32-52% of cases. However, study heterogeneity limited meta-analysis, and standardized protocols are needed before widespread adoption.

Long-term Durability: Japanese registry data from 297 SAPIEN XT patients shows only 13.2% survival at 10 years, but acceptable transcatheter heart valve durability with severe structural valve deterioration in 3.0% and bioprosthetic valve failure in 10.8%. PARTNER 3's 7-year health status data shows equivalent outcomes between TAVR and surgery in low-risk patients.

Complications and Safety Concerns: Late complications include complete AV block occurring 17 months after TAVR with an Evolut-R valve, extending the known timeline for conduction complications. A concerning analysis reveals significant discrepancies between echocardiographic and invasive gradient measurements post-procedure, with echo consistently overestimating gradients.

Patient Selection: Researchers examining different aortic stenosis phenotypes in 15,233 TAVR patients found that nearly 20% had discordant AS, with low-gradient AS with impaired LVEF showing higher one-year mortality (15.9% vs 11.9%). A comprehensive review of valve selection in small aortic annuli emphasized that while self-expanding valves provide superior hemodynamics, balloon-expandable valves may offer procedural advantages.

Novel Applications: Research demonstrates feasibility of detecting aortic stenosis using smartphone-recorded heart sounds with 92% sensitivity, though validation is needed. Early data suggests tirzepatide may reduce post-procedural valve dysfunction in TAVR patients.


Mitral Valve (Repair & Replacement)

Durability Concerns: The most significant development was a durability analysis revealing 41% failure rates at 5 years for primary MR patients undergoing transcatheter edge-to-edge repair. This systematic review of 33 studies showed MR recurrence rates of 17% and reintervention rates of 9% at 5 years overall, but substantially higher failure rates in primary MR.

Reverse Remodeling: More encouraging data came from the EXPANDed studies on left ventricular reverse remodeling, where 64% of secondary MR and 73% of primary MR patients demonstrated early improvement. However, clinical benefits were more pronounced in secondary MR, raising questions about patient selection criteria.

SURVIV Trial Launch: The first randomized trial comparing transcatheter mitral valve-in-valve procedures with surgical redo-mitral valve replacement will enroll 150 patients with mitral bioprosthetic valve dysfunction. This addresses a critical evidence gap in valve-in-valve therapy.

Sex Differences: Australian registry data from 1,050 patients shows similar patient-reported outcomes improvements in both sexes following valve-in-valve procedures, but females faced higher 30-day and 12-month MACCE rates, with significantly higher stroke rates.

Cost-Effectiveness: A modeling study suggests that valve-in-valve transcatheter mitral valve replacement could save $418,001 per death averted compared to redo surgical MVR, though this relies on limited clinical data.

Complex Cases: Case reports demonstrate multimodality imaging approaches to clarify mechanisms of unilateral pulmonary edema from eccentric mitral regurgitation and document reversal after MitraClip therapy.


Tricuspid Valve (Repair & Replacement)

Complications: Case reports highlighted complications following tricuspid valve replacement, including hypoxia due to right-to-left shunting through patent foramen ovale following TVR, emphasizing the importance of screening for and potentially closing PFOs.

Imaging Studies: A cardiac CT analysis examined right heart strain changes after transcatheter tricuspid valve replacement, contributing to understanding of hemodynamic impact of these newer interventions.

Patient Characteristics: Research examined the prevalence and impact of diabetes mellitus in patients undergoing transcatheter tricuspid valve repair using edge-to-edge technique, though detailed results were not available.


Clinical Trials Update

Aortic Valve Trials

  • [LANDMARK] NCT02701283: Evolut Low Risk (long-term follow-up) | ACTIVE_NOT_RECRUITING | 2,223 participants | Medtronic Cardiovascular
  • NCT07317804: Echo-Guided vs Fluoroscopy-Guided TAVR (ECHO-TAVR) | NOT_YET_RECRUITING | PHASE4 | 212 participants | China National Center for Cardiovascular Diseases
  • NCT05149755: Evolut™ EXPAND TAVR II Pivotal Trial | ACTIVE_NOT_RECRUITING | 650 participants | Medtronic Cardiovascular
  • NCT07477002: Post-Dilatation Effect on TAVI Prostheses Expansion | RECRUITING | 146 participants | Medical University of Vienna
  • NCT07411768: Low-dose Colchicine for Thromboprophylaxis After TAVR | NOT_YET_RECRUITING | 116 participants | China National Center for Cardiovascular Diseases
  • NCT07453407: ART Trial: Transcatheter J-VALVE Versus Surgery for Aortic Regurgitation Therapy | RECRUITING | 1,250 participants | Second Affiliated Hospital, Zhejiang University

Mitral Repair Trials

  • [LANDMARK] NCT04198870: REPAIR-MR (MitraClip vs surgery for primary MR) | ACTIVE_NOT_RECRUITING | 500 participants | Abbott Medical Devices
  • [LANDMARK] NCT05051033: PRIMATY (MitraClip vs medical therapy for secondary MR) | RECRUITING | 450 participants | Annetine Gelijns
  • [LANDMARK] NCT03706833: COAPT (MitraClip for secondary MR - long-term follow-up) | ACTIVE_NOT_RECRUITING | 1,247 participants | Edwards Lifesciences
  • NCT07069673: Abbott Cephea Mitral Valve Disease Registry | RECRUITING | 1,000 participants | Abbott Medical Devices

Mitral Replacement Trials

  • [LANDMARK] NCT03242642: Intrepid TMVR Pivotal | RECRUITING | 1,056 participants | Medtronic Cardiovascular
  • [LANDMARK] NCT04101357: APOLLO (Tendyne TMVR) | TERMINATED | 54 participants | BioNTech SE
  • NCT03433274: Clinical Trial of Tendyne Transcatheter Mitral Valve System | ACTIVE_NOT_RECRUITING | 103 participants | Abbott Medical Devices
  • NCT07470788: FIH ITA Study - Vesalius TMVr System | NOT_YET_RECRUITING | 5 participants | Vesalius Cardiovascular Inc.

Tricuspid Repair Trials

  • [LANDMARK] NCT03904147: TRILUMINATE Pivotal (TriClip for TR) | ACTIVE_NOT_RECRUITING | 572 participants | Abbott Medical Devices
  • [LANDMARK] NCT04097145: CLASP II TR (PASCAL for TR) | RECRUITING | 870 participants | Edwards Lifesciences

Tricuspid Replacement Trials

  • [LANDMARK] NCT04482062: TRISCEND II (Evoque tricuspid replacement) | ACTIVE_NOT_RECRUITING | 864 participants | Edwards Lifesciences
  • [LANDMARK] NCT05071768: GATE Pivotal (NaviGate tricuspid replacement) | COMPLETED | 31 participants | University of Manitoba

Surgical vs. Transcatheter Comparisons

Stroke Outcomes: The most comprehensive comparison to date, a meta-analysis of 27 studies, reveals that TAVR demonstrates significantly lower 30-day stroke rates (3.0%) compared to surgical AVR, with 27% lower odds of stroke early. However, this advantage disappears beyond 30 days, with similar stroke rates at 1, 2, and 5 years.

Dialysis Patients: Comparative outcomes data in dialysis patients undergoing aortic valve replacement showed poor overall survival regardless of approach. Medicare analysis found similar 5-year survival between bioprosthetic and mechanical SAVR, while SAVR had worse early but improved 5-year survival compared to TAVR.

Heart Team Decision-Making: Analysis from a single institution showed high adherence to heart team recommendations (89%) but concerning mortality rates: surgery 21% at two years, transcatheter intervention 53%, and medical management 55%. These outcomes emphasize the importance of careful patient selection and realistic prognostic discussions.

Ozaki Procedure Comparisons: Similar to hypoattenuated leaflet thickening after TAVR, the Ozaki procedure shows early cusp thickening in 22% of patients and reduced cusp motion in 40%, though these changes didn't affect mid-term outcomes during 5.9-year follow-up.


Valve Industry Stocks — Weekly Performance

6-Month Valve Industry Stock Performance

Edwards Lifesciences (EW)

EW 6-Month Chart

Weekly Performance: $82.50 (+$0.04, +0.05%)
6-Month Performance: +11.86% (+$8.75)
Market Cap: $47.9B | P/E: 45.58 (trailing), 24.95 (forward) | Beta: 0.93
52-Week Range: $65.94 - $87.89
Analyst Target: $96.46 (range: $84.0-$110.0, 28 analysts) | Rating: Buy
Next Earnings: April 22, 2026 (EPS est: $0.73, Rev est: $1.60B)

Edwards showed resilience this week with modest gains and strong 6-month performance. The company benefits from TAVR market leadership and expanding TMVR opportunities, though JenaValve's AR approval introduces new competition in specialized indications.

Medtronic (MDT)

MDT 6-Month Chart

Weekly Performance: $86.16 (-$0.71, -0.82%)
6-Month Performance: -7.58% (-$7.06)
Market Cap: $110.6B | P/E: 24.07 (trailing), 14.14 (forward) | Beta: 0.73
52-Week Range: $79.55 - $106.33
Analyst Target: $111.31 (range: $92.0-$125.0, 26 analysts) | Rating: Buy
Next Earnings: May 20, 2026 (EPS est: $1.66, Rev est: $9.65B)

Medtronic faces headwinds despite its diversified structural heart portfolio. The Evolut platform remains competitive in TAVR, but broader medical device pressures continue to weigh on performance despite attractive forward multiples.

Abbott (ABT)

ABT 6-Month Chart

Weekly Performance: $105.46 (-$1.73, -1.61%)
6-Month Performance: -22.07% (-$29.87)
Market Cap: $183.3B | P/E: 28.35 (trailing), 16.90 (forward) | Beta: 0.74
52-Week Range: $105.27 - $139.06
Analyst Target: $132.64 (range: $113.0-$158.0, 25 analysts) | Rating: Buy
Next Earnings: April 15, 2026 (EPS est: $1.15, Rev est: $10.99B)

Abbott shows the steepest decline among major valve players despite its market-leading MitraClip and TriClip platforms. The durability concerns highlighted this week add pressure to transcatheter repair franchises, though the company's diversified portfolio provides stability.

Boston Scientific (BSX)

BSX 6-Month Chart

Weekly Performance: $69.48 (-$0.41, -0.59%)
6-Month Performance: -28.39% (-$27.55)
Market Cap: $103.1B | P/E: 35.81 (trailing), 17.76 (forward) | Beta: 0.70
52-Week Range: $67.56 - $109.50
Analyst Target: $102.48 (range: $83.0-$124.0, 33 analysts) | Rating: Strong Buy
Next Earnings: April 22, 2026 (EPS est: $0.79, Rev est: $5.19B)

Boston Scientific faces the worst 6-month performance despite strong analyst sentiment. While not primarily a valve company, its WATCHMAN platform and emerging structural heart investments position it for potential market share gains.

Anteris Technologies (AVR.AX)

AVR.AX 6-Month Chart

Weekly Performance: $8.40 (+$0.19, +2.31%)
6-Month Performance: +10.38% (+$0.79)
Market Cap: $0.8B | Forward P/E: -3.85 | Beta: 0.42
52-Week Range: $4.26 - $9.79
Analyst Target: $13.0 (1 analyst) | Rating: Strong Buy

Anteris showed positive performance despite broader sector weakness. The company's DurAVR anti-calcification technology represents potential differentiation in the competitive TAVR market, though clinical validation milestones remain pending.

Market Analysis: The valve industry faces mixed sentiment amid durability concerns and intensifying competition. Edwards' relative resilience contrasts with significant declines at Abbott and Boston Scientific, reflecting investor discrimination between market leaders and followers. JenaValve's approval validates transcatheter innovation but highlights the challenges of addressing niche indications with limited market size.


Regulatory & Policy

FDA Approvals: JenaValve received FDA approval for its Trilogy system for severe aortic regurgitation, expanding transcatheter treatment options for this challenging indication.

CMS Coverage Updates: The Centers for Medicare & Medicaid Services issued an updated National Coverage Analysis for TAVR, potentially affecting Medicare reimbursement and patient access criteria.

International Guidelines: The 2025 ESC/EACTS Guidelines for valvular heart disease introduced substantial changes including imaging-based staging of cardiac damage, lower intervention thresholds for aortic stenosis and primary mitral regurgitation, and refined age- and risk-stratified allocation between surgical and transcatheter therapies. While these guidelines reflect contemporary evidence, their emphasis on earlier intervention and expanded transcatheter indications may outpace long-term durability data.

Specialty Consensus: Saudi cardiac specialists published consensus recommendations for transcatheter pulmonary valve replacement, emphasizing multidisciplinary assessment and imaging-guided approaches for TPVR devices including Melody, SAPIEN, Harmony, and Venus P-valve.


Weekend News

Made-in-India TAVR Development: Reports indicate "affordable Made-in-India TAVR systems for high-risk heart patients" from Medical Buyer, potentially expanding global access to transcatheter therapies. However, details about regulatory approval pathways and clinical validation remain unclear.

Tirzepatide Research: TCTMD reported on TAVR-MET study findings showing early signs of less postprocedural valve dysfunction with tirzepatide, representing growing interest in adjunctive pharmacological approaches to optimize transcatheter outcomes.

Cardiovascular Health: Cardiovascular Business highlighted research suggesting "morning exercise may have added benefits for the heart", contributing to broader cardiovascular health discussions.


Week Ahead

Upcoming Earnings: Abbott reports Q1 2026 earnings on April 15 with EPS estimates of $1.15 and revenue of $10.99B. Edwards Lifesciences and Boston Scientific both report on April 22, with Edwards expecting $0.73 EPS on $1.60B revenue and Boston Scientific projecting $0.79 EPS on $5.19B revenue. Medtronic follows on May 20 with $1.66 EPS and $9.65B revenue estimates.

Conference Activity: Watch for presentations on durability data from ongoing trials, particularly long-term follow-up from landmark studies like COAPT, PARTNER series, and Evolut trials.

Regulatory Milestones: Monitor FDA advisory panel meetings and CMS coverage decisions that could affect transcatheter valve adoption patterns and reimbursement policies.

Trial Readouts: Key data expected from REPAIR-MR, PRIMATY, TRILUMINATE, CLASP II TR, TRISCEND II, and Intrepid TMVR as these pivotal studies progress toward completion.


All Research & Sources This Week

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The Valve Wire
By E. Nolan Beckett  ·  nolan.beckett@pm.me
AI-synthesized from PubMed, bioRxiv, medRxiv, JACC, NEJM, Circulation, JAMA,
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