Fractyl Health up on 'breakthrough' tag for weight management device
30/07/2024 12:31
** Drug developer Fractyl Health's GUTS.O shares rise 7.6%
to $4.4 premarket
** Company says U.S. FDA granted its investigational
weight-loss maintenance device, called Revita, "breakthrough
device" designation
** The device is used to maintain weight loss after
discontinuation of GLP-1 drugs
** Revita is designed to surgically remodel the duodenal
lining of the small intestine, which receives food from the
stomach and begins absorption of nutrients
** "Breakthrough device" designation helps patients gain
access to medical devices in treatments for which no approved or
cleared alternatives exist
** As of last close, stock up 4.8% since market debut on
Feb. 2
(Reporting by Pratik Jain in Bengaluru)
((Pratik.Jain@thomsonreuters.com))