AngioDynamics, Inc. (
ANGO - Free Report) recently announced FDA’s approval for the company’s investigational device exemption (IDE) application for its NanoKnife Irreversible Electroporation pilot study. Notably, the pilot study intends to support the approval of a future Premarket Approval Application (PMA) in the United States.
More Recent Approvals
It is encouraging to note that in recent times, the company has received more regulatory approvals.
NanoKnife — A Key Catalyst
The NanoKnife System is a unique, minimally invasive technique that has been used to successfully treat focal prostate lesions through irreversible electroporation.
The FDA had already granted the NanoKnife System a Breakthrough Device Designation under the 21st Century Cures Act in January 2018.
For the surgical ablation of the soft tissue, NanoKnife has previously received a clearance from the FDA. The system utilizes low-energy direct current electrical pulses to permanently open pores in target cell membranes.
Price Performance
We believe that such positive developments are likely to boost the Zacks Rank #4 (Sell) stock that has declined 6.2%, against the
industry's 3% rise in a year’s time. The current level is also lower than the S&P 500 index’s 4.3% rise.
Key Picks
DENTSPLY’s long-term earnings growth rate is expected to be 11.5%.
Penumbra’s long-term earnings growth rate is projected at 21.5%.
CONMED’s long-term earnings growth rate is estimated at 13.3%.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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