Hancock Jaffe Labs rises as product gets FDA's breakthrough designation

enVVeno Medical

03/08/2021 14:22

** Share of medical device maker Hancock Jaffe Laboratories
 HJLI.O  up ~24% at $8.17 premarket
    ** The U.S. Food and Drug Administration (FDA) granted
breakthrough device designation to co's lead product VenoValve  urn:newsml:reuters.com:*:nACS8ZxWHa
    ** VenoValve, which is set to begin a U.S. trial, is a
potential treatment for Chronic Venous Insufficiency (CVI)
    ** CVI occurs when valves insides one's veins in the leg
fail, causing blood to flow in the wrong direction and thereby
increasing pressure
    ** CVI affects around 2.4 mln people in the United States
    ** Stock down ~24% YTD

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))