Misonix Shares Soar on FDA Clearance at 2006-02-06 23:45:40
Misonix, Inc. (Nasdaq: MSON), a developer of ultrasonic medical device technology for the treatment of cancer and other health conditions, today announced that the Food and Drug Administration ("FDA") has granted 510(k) clearance for Misonix to market and sell the Sonatherm 600 Ultrasonic Lesion Generating System in the U.S. for ablation of certain soft tissue lesions in General Surgery procedures. Michael A. McManus, Jr., President and CEO of Misonix, stated, "We are excited by the news from the FDA. This result is an important milestone for our HIFU technology. We believe this technology will be used to the benefit of a large surgical marketplace and related healthcare constituents that are constantly looking for innovative therapies. Shares of Misonix are higher by $2.45 to $7.01 in early afternoon trading, with extremely heavy volume of 1.9 million shares compared to average volume of nearly 22 thousand. This will enhance volatility and wild price swings higher if the buying pressure continues.
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