Sunshine Heart (NASDAQ:SSH) Device Receives Approval From FDA- SSH, ABMD, BSX, SPNC, EW

Sunshine Heart Inc (NASDAQ:SSH) announced on Tuesday that it got unconditional authorization from the Food and Drug Administration to start its pivotal U.S. trial for its flagship C-Pulse Heart Assist System.

Shares climbed 17 percent premarket to $7.74. As of Monday’s close, the stock was dropped 4.5 percent over the previous three months.

Accordant to description, the C-Pulse System is an implantable, non-blood contacting, heart assist therapy for the treatment of reasonable to some heart failure.

Chief Executive Dave Rosa stated that they are satisfied to have expeditiously completed the agreement process with the FDA. They are eager to evaluate the C-Pulse System’s possible in treating patients suffering from Class III and ambulatory Class IV heart failure.

Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes ABIOMED, Inc. (NASDAQ:ABMD) lost -1.42%, Boston Scientific Corporation (NYSE:BSX) edged up 0.38%, The Spectranetics Corporation (NASDAQ:SPNC) which also increased 0.14% and Edwards Lifesciences Corp (NYSE:EW) closed up 0.18%.

Sunshine Heart Inc (NASDAQ:SSH) stock’s trade at beginning with a price of $7.33 and throughout the trading session climbed at a high of $7.65 other than when day-trade ended the stock finally advanced 6.49% to $-1.52.

SSH stock institutional ownership remained 5.20% while insider ownership included 34.35%. In its share capital SSH has 9.25 million outstanding shares among them 5.99 million shares have been floated in market exchange.

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Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.