Align Technology (NASDAQ: ALGN) saw its stock soar 5.07% in intraday trading on Wednesday, as investors reacted positively to news about one of the company's key products. Align Technology, known for its Invisalign clear aligners, has been making strides in expanding its product offerings and global reach.

The catalyst for the stock's surge was the announcement that Align's Invisalign Palatal Expander System has been notified as a Class B medical device by Malaysian medical authorities. This classification is a crucial step in the regulatory process, potentially paving the way for the product's introduction in the Malaysian market.

This development is significant for Align Technology as it represents an expansion of its product line and geographical footprint. The Invisalign Palatal Expander System, designed to widen the upper jaw in growing patients, could open up new revenue streams for the company in the orthodontic market. Investors appear to be optimistic about the potential growth opportunities this regulatory milestone may bring, contributing to the stock's notable increase today.