You are a Sore loser & POOR "investor". FDA was UNANIMUS. "Sunrise Technologies Eye Laser Rejected by FDA Advisory Panel
Gaithersburg, Maryland, July 22 (Bloomberg) -- Sunrise
Technologies International Inc., a money-losing maker of eye
surgery equipment, failed to win the recommendation of an expert
government panel for a laser to treat mild farsightedness.
The advisory panel voted unanimously to recommend that the
U.S. Food and Drug Administration reject the laser, citing
concerns about cases in which the laser's effects faded with
time.
``A percentage of the refractive effect is temporary,' said
Michael Grimmett, a member of the panel and a professor of
ophthalmology at the University of Miami.
The FDA usually follows the advice of its expert panels,
though it is not required to do so.
John G. Kinnard & Co. analyst Richard Leza said a rejection
of the technology could have serious consequences for the
company. If they don't get FDA approval, he said, ``they're
dead.'
Approval of the laser would be the catalyst to make the
company profitable. If the FDA overrules the panel, Sunrise plans
to market the laser system to doctors, capitalizing on the
growing number of people over 40 who face the deterioration of
their close vision.
Other systems to correct vision use a laser to cut the eye
but Sunrise uses a Holmium laser to heat certain areas on the
eye, shrinking tissue to change its shape.
Shares in Fremont, California-based Sunrise were halted
today. Yesterday, the company's shares fell 2 to 15.
--Brian Reid in Gaithersburg through the Washington newsroom
(202) 624-1820 |
