AngioDynamics Shares Rise 10% After FDA Clears AlphaVac F18 System

By Chris Wack

AngioDynamics shares were up 10% to $6.66 after the company said the U.S. Food and Drug Administration has cleared its AlphaVac F18 system for the treatment of pulmonary embolism.

The stock hit its 52-week low of $5.26 on March 25, and is down 29% in the past 12 months.

AngioDynamics' AlphaVac system was already cleared by the FDA for the removal of thromboemboli from the venous system. The expanded clearance for the treatment of pulmonary embolism broadens the applicability of the device and treatment options for patients, the company said.

The medical-technology company also reported a third-quarter loss of $190.4 million, or $4.73 a share, compared with a loss of $9.5 million, or 24 cents a share, in the same quarter last year. Sales fell 7% to $75.2 million.

The company also cut its fiscal-year revenue guidance, mainly to reflect the recent sale of some of its businesses and the discontinuation of its RadioFrequency ablation and Syntrax products.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

April 04, 2024 10:56 ET (14:56 GMT)

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