Australia's Curvebeam AI gains on US FDA approval for equipment

Curvebeam AI

15/07/2024 04:17

** Shares of Curvebeam AI  CVB.AX  rise as much as 23.4% to
A$0.290, their highest level since Jan. 31
    ** Co says its Enhanced HiRise scanner has received
clearance from the US Food and Drug Administration (FDA)
    ** Orthopaedic imaging systems maker says the clearance
allows the usage of Enhanced HiRise scanner in routine medical
practice settings relating to knee and hip procedures, including
robotic surgical systems
    ** Adds, the FDA clearance will also permit co to execute on
its commercial launch and expansion plans for the Enhanced
HiRise platform in the US market
    ** 980,322 shares change hands by 0302 GMT, 2.8 times the
30-day average volume of shares
    ** Stock has fallen 43.37% this year as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((sherin.sunny@thomsonreuters.com))