Wednesday, August 18, 2010

Day Trader's Alert: JAZZ, BSDM, IRIX, CRDC, MVIS

Shares of Jazz Pharmaceuticals Inc (NASDAQ: JAZZ) soared more than 12% in pre-market trading after US Food and Drug Administration said that its fibromyalgia drug is safe and effective but it is unclear whether the company's proposed safeguards "will fully mitigate" risks of improper use.

BSD Medical Corporation (NASDAQ: BSDM) surged more than 54% in pre-market tading Wednesday after it announced that the U.S. Food and Drug Administration (FDA) has granted the Company a 510(k) clearance to market its MicroThermX Microwave Ablation System (MTX-180) for ablation of soft tissue. Clearance from the FDA of BSD's 510(k) Premarket Notification submission authorizes the commercial sale of the MTX-180 in the United States. The MTX-180 was designed to provide a higher power, optimized system targeted to the growing therapeutic interventional and surgical oncology market. Shares of the company soared more than 35% in pre-market trading.

IRIDEX Corporation (NASDAQ: IRIX) on Wednesday announced the receipt of issuance of U.S. Patent No. 7,771,417, titled "Laser System with Short Pulse Characteristics And Its Method Of Use." This patent applies to the company's MicroPulse(TM) technology which provides the ophthalmologist with fine dose control of laser energy during eye surgery. Shares of the company gained more than 6% in pre-market action.

Cardica, Inc. (NASDAQ: CRDC) jumped more than 50% in pre-market trading. Late on Tuesday the surgical systems maker announced that it has entered into a license agreement with Intuitive Surgical, Inc. (NASDAQ: ISRG). Under the deal, Intuitive will get a a worldwide, exclusive license to Cardica's intellectual property, which relates to tissue cutting, stapling and clip appliers, for use in the robotics field. Pursuant to the license agreement, Cardica and Intuitive may also enter into future product development agreements. Intuitive has paid Cardica $12 million for a royalty-bearing license and equity investment in approximately 1.25 million shares of Cardica's common stock. 

Microvision, Inc. (NASDAQ: MVIS) jumped more than in 8% in pre-market action after it announced that it has secured a committed equity financing facility under which it may sell up to $60 million of its shares of common stock to Azimuth Opportunity, Ltd. over a 24-month period.

Disclosure: Author doesn't own any of the stocks discussed here.
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