FDA Clears Possis AngioJet System, Shares Surge

Possis Medical stock shares surged after the medical device manufacturer received marketing clearance from the FDA for its AngioJet Xpeedior catheter.

The Minneapolis, MN-based company’s stock added $1.84, or 16.1%, to $13.25 in electronic premarket trading on the INET electronic exchange on Wednesday.

The catheter is used to remove blood clots, or thrombus, from upper- and lower-extremity peripheral veins 3 millimeters or larger in diameter. The device is also cleared for general peripheral vascular use with Power Pulse Delivery, a procedure that sprays smaller doses of clot-dissolving medicine directly into the clot and then removes the softened clot material.

“This gives doctors a powerful tool to restore flow to blocked veins. Patients may benefit from faster resolution of leg pain and reduced risk of complications,” CEO Robert Dutcher said in a statement.