Electromed (NSDQ:ELMD) announced last week that it won FDA market clearance for its SmartVest SQL, a quieter, lighter model of its SmartVest airway clearance therapy system. The device should hit shelves within 60 days, Electromed said.
The SQL system electronically delivers high frequency energy to the chest walls to clear the airways, promoting bronchial drainage for patients with cystic fibrosis, cerebral palsy and other disease that cause blockage.
“SQL solidifies Electromed’s innovation leadership by offering a device that is smaller, quieter, and lighter than our previous versions," CEO Kathleen Skarvan said in prepared remarks. "We designed the SQL to stand apart from the competition with features that our patients and clinicians were asking for. They talked, and we listened."
The stock for the New Prague, Minn.-based company quickly gained on the news. ELMD shares jumped by 62.7% after the win was reported on Monday, Dec. 30, and are still up more than 150% compared with their closing value of $1.01 on Friday, Dec. 27. Shares lost some of that shine before the weekend, closing on Friday at $2.57, down 8.9% on the day.