Shares of Irvine-based medical device maker Biolase Technology Inc. shot up Tuesday after regulators cleared its latest dental laser.
Biolase, which makes laser devices used in various dental procedures, closed up 19% to a market value of $54 million after rising as high as 33% in Tuesday trading.
The device maker said that the Food and Drug Administration cleared its iLase, a laser device that is the size of a large pen and is operated by hand, with no foot pedals or cords.
ILase can be used in 25 different dental procedures, including cleaning between the gums and teeth to treat periodontal disease, the company said.
Biolase said it will start shipping iLase in April.
