From CBS MarketWatch on VASO:
Screamers
Investors pump up Vasomedical
Shares more than double
By Debra McGarry, CBS MarketWatch
Last Update: 5:48 PM ET Mar 1, 2000 NewsWatch
WESTBURY, N.Y. (CBS.MW) -- Vasomedical shares skyrocketed 1 125 percent Wednesday after the Mayo Clinic confirmed positive results from the medical device maker's therapy treatment for angina.
Shares (VASO: news, msgs) more than doubled, up 3 5/8 to 6 1/2 on volume of just over 31 million shares.
The Westbury, N.Y.-based company makes and markets external counterpulsation systems based on the company's proprietary technology.
Vasomedical's enhanced external counterpulsation therapy (EECP) is a noninvasive outpatient treatment for angina, or chest pain, which often leads to coronary heart disease.
The results were recently published as an interview in the Rochester Post-Bulletin.
The Mayo Clinic, one of the most respected medical facilities in the world, and other medical centers are studying the use of EECP therapy.
The EECP is marketed to hospitals, clinics, and cardiac health care professionals worldwide.
Heart disease is a leading killer of both men and women. "Many heart disease patients do not qualify for common treatment methods and EECP therapy could turn out to be a big help for these patients," Gregory Barsness, M.D., medical director for the EECP therapy program at Mayo stated in a press release.
"We are cautiously optimistic about the therapy. ...We have had dramatic responses, so we're enthusiastic and we're actively pursuing it," Barsness noted.
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