Of tales to come. Look at the scenario, BUT remember what market size you are talking about. Corrective eye surgery [not insured] to breast cancer diagnosis [insured and heavily used]
-----> New day for Sunrise Technologies shares on FDA rthumbs up
Screamers
By Debra McGarry, CBS MarketWatch
FREMONT, Calif. (CBS.MW) -- Sunrise Technologies International shares rose 28 percent Friday after a U.S. Food and Drug Administration panel unanimously recommended approval of the company's hyperion LTK laser treatment.
Shares of the maker of laser systems for use in eye surgery rose 1 3/4 to 11 15/16 on volume of 14 million shares in recent trading.
Sunrise (SNRS: news, msgs), based in Fremont, Calif., said it'll will work closely with the FDA in the coming weeks to obtain final approval for the system, the first technology designed specifically for the treatment of hyperopia, commonly known as farsightedness.
Last July, an advisory panel of the FDA recommended rejection of the approval of the hyperion laser because it believed the effects of the treatment wore off after a period of time.
Hyperopia is the most common refractive affliction of the U.S. population, according to an independent research study called the The Baltimore Eye Study, conducted by investigators from Johns Hopkins University.
"LTK (laser thermal keratoplasty) represents the next level in the field of vision correction. It is the ideal 'no-touch' laser vision correction for farsightedness.," said Brian S. Boxer Wachler, M.D., an investigator for the Sunrise Technologies LTK U.S. clinical trials. See press release.
There is growing awareness in the ophthalmic community that farsightedness is a condition that is much different from nearsightedness. It is common for individuals to experience a shift toward farsightedness after they reach the age of 40, Wachler noted.
Debra McGarry is a reporter for CBS MarketWatch. |
