Hi Angler..
Thanks for the heads up on the approval. I will stand aside to
others who are much more knowledgeable about whether this will
help or hurt.
What I can tell you is that there is a very long history between
VISX and BEAM that reads like novel. I would go back to the
beginning of this message thread and read through what Summit
did in the early stages of the game. I still could never invest
in a company with such a past, even if their machine was
superior, which it isn't.
Here's the pr newswire release on the approval. I noticed that
it was released at 9:10am EST this morning and BEAM ended
up down:
WALTHAM, Mass., March 12 /PRNewswire/ -- Summit Technology, Inc. (Nasdaq: BEAM) today announced that the U.S Food and Drug Administration (FDA) has approved the Summit SVS Apex Plus Excimer Laser Workstation and the emphasis(R) disc for treating low to moderate myopic astigmatism.
This approval dramatically boosts the utility of Summit's equipment for its customers. Industry estimates suggest that millions of people suffer from some degree of astigmatism, a significant portion of which fall into the approved treatment range. Summit's Apex Plus and emphasis(R) disc technology have been used successfully for more than two years outside the U.S. for the treatment of astigmatism and hyperopia, as well as myopia with excellent clinical results. Summit is pursuing FDA approval for the treatment of hyperopia with its SVS Apex Plus Workstation and emphasis(R) disc, and is awaiting FDA action on its previously submitted PMA application for the treatment of high myopia.
Robert J. Palmisano, Chief Executive Officer, stated:
"We have our regulatory team in high gear and we do not intend to slow down. This approval is an important milestone not only because of the benefit astigmatism treatment brings to potential patients and to our customers, but also because it ushers in a new era of laser vision correction technology. FDA approval of Summit's unique emphasis(R) disc platform allows the US consumer and professional community access to this advanced technology, which should ultimately enable practitioners to perform as wide if not a wider range of refractive treatments as any other technology. This advantage derives, in part, from the disc's capacity for customization, meaning that for difficult or unusual cases the, treatment can be tailored to the patients' individual condition."
Summit Technology is a leading developer, manufacturer and marketer of ophthalmic laser systems designed to correct common vision disorders such as nearsightedness, farsightedness and astigmatism. In 1995, Summit was the first excimer laser company to receive FDA approval for its Apex excimer laser system for the correction of mild to moderate myopia in the U.S. In addition, through its wholly owned subsidiary, Lens Express, Summit sells contact lenses and related products.
Cautionary Statement Under "Safe Harbor" Provisions of The Private Securities Litigation Reform Act of 1995: Statements made in this news release contain information about the Company's future business prospects. These statements may be considered "forward-looking". These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. For further information regarding cautionary statements and factors affecting future operating results, please refer to Summit's annual report on form 10-K for the year ended December 31, 1996 and Form 10-Q for the quarter ended September 30, 1997.
SOURCE Summit Technology, Inc.
CO: Summit Technology, Inc.
ST: Massachusetts
IN: MTC
SU:
03/12/98 09:10 EST prnewswire.com |
