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AngioDynamics, Inc. (ANGO) - free report >>
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AngioDynamics, Inc. (ANGO) - free report >>
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AngioDynamics Receives FDA Nod, to Treat Pancreatic Cancer
AngioDynamics Inc. (ANGO - Free Report) recently announced that the FDA has granted the Expedited Access Pathway (EAP) designation to its flagship NanoKnife System. Further, it has been proposed that the upgraded system is likely to be used for Stage III pancreatic cancer.
About NanoKnife
NanoKnife is one of the major products, which is driving the Oncology business of AngioDynamics. In the first quarter of fiscal 2018, the platform was a major to revenues. The product has previously received FDA clearance for the surgical ablation of the soft tissue.
The system utilizes low-energy direct current electrical pulses to permanently open pores in target cell membranes.
What is EAP?
The EAP program is designed to help patients gain more timely access to medical devices that may provide fruitful treatment of fatal irreversibly impairing diseases. No approved or cleared alternatives exist to treat such diseases.
Per the FDA, the EAP program represents a collaborative approach to help manufacturers with product development and evaluation.
Pancreatic Cancer in the United States
Per the American Cancer Society, about 55,440 people are likely to get diagnosed with pancreatic cancer in 2018.
Moreover, pancreatic cancer accounts for about 3% of all cancers in the United States and about 7% of all cancer deaths.
Lucrative Prospects in Niche Space
Per a research by Allied Market Research, the global surgical equipment market was valued at $9,115 million in 2015, which is expected to reach $14,728 million by 2022, at a CAGR of 7.1%.
Meanwhile, some other medical stocks in the broader medical space that have been gaining prominence on the back of solid developments are Bio-Rad Laboratories (BIO - Free Report) , BIOVERATIV and Centene (CNC - Free Report) .
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