Shares of Aliso Viejo-based SenorRx Inc. shot up more than 13% on Wednesday after the Food and Drug Administration approved its breast cancer treatment, the company said.
SenoRx, which went public in late March in a $45 million offering, received approval for its Multi-Lumen Radiation Balloon Applicator, which treats breast cancer.
Shares soared some 20% to $10.60 on the news earlier today, settling down around $9.08 for the day.
The Multi-Lumen uses brachytherapy, which places radiation inside or near the source of the cancer. SenoRx’s device is placed inside the area in need of radiotherapy. Regulators cleared it following lumpectomies,when the lump is removed,for breast cancer.
A full launch of Multi-Lumen is expected in early 2008.
Only one other company, Marlborough, Mass.-based Cytyc Corp., has a commercialized medical device for brachytherapy following breast cancer surgery, the Mammosite.
