Health and Healthcare
CryoCor Regains Lost Ground; FDA Remains Unpredictable (CRYO)
Published:
CryoCor Inc. (CRYO-NASDAQ) is trading up almost 100% in early trading today. Last night the company announced that an FDA Advisory Panel had recommended backing the company’s pre-market approval application for the company’s treatment device for atrial flutter (ahead of the formal vote in August).
Back on June 25, all the way back to Monday, this stock took a beating. The FDA had posted its review stating that the device that uses extreme cold to treat defective heart muscle did not show overwhelmingly safe or effective results in company studies. Shares fell from $4.40 down to $2.77 at the close on Monday. Now shares are back up to $4.95.
This just goes to show how volatile and unpredictable the FDA can be. If you don’t believe that the FDA is becoming more and more unpredictable, go ask a certain maker of a last line of defense for prostate cancer about it. CryoCor has a 52-week trading range of $1.25 to $7.35, and its market cap based on a $4.95 price is only $60 Million.
Jon C. Ogg
June 28, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
