By Dean Seal
Shares of AngioDynamics hit a 52-week high after the company's NanoKnife System for prostate tissue ablation received regulatory clearance.
The stock jumped almost 35% to a high of $9.42 in early trading. Shares are now in positive territory year-to-date.
The medical-device maker said before the bell that the Food and Drug Administration granted clearance following a clinical study that validated the safety and effectiveness of the NanoKnife System in patients with immediate-risk prostate cancer.
The results reinforced findings from more than 32 other studies performed on more than 2,600 patients around the world, AngioDynamics said.
"The NanoKnife System minimizes the life-altering complications often associated with traditional treatments by selectively targeting prostate tissue while preserving critical functions," Chief Executive Jim Clemmer said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
December 09, 2024 10:08 ET (15:08 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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