Shares of Irvine-based medical device maker Endologix Inc. rose Thursday after the Food and Drug Administration approved its treatment for ballooning blood vessels.
Endologix’ shares were up 3% with a market value of $460 million in early afternoon New York trading.
Regulators approved Endologix’ AFXT Endovascular AAA device for treating abdominal aortic aneurysms on Wednesday.
An abdominal aortic aneurysm is the weakening of the aorta’s wall that leads to a balloon-like enlargement that can rupture.
Endologix’ device delivers a stent that redirects blood flow away from the aneurysm, reducing pressure on it.
The company said the AFXT is its latest version of the product and has a mechanism that makes it easier for surgeons to put it inside the patient’s aorta.