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Dorsavi Ltd share price jumps 8% on FDA clearance

The Dorsavi Ltd (ASX: DVL) share price has been amongst the biggest movers on the market today.

In afternoon trade the motion analysis technology company’s shares are up 8.5% to 38 cents.

What happened?

This morning the company announced that it has received 510(k) clearance by the U.S. Food and Drug Administration (FDA) for its ViMove2 sensor designed to measure, record, and analyse movement and muscle activity of the lower back.

The FDA clearance is an important milestone for the company according to management, due largely to their belief that the product has a mass market clinical opportunity.

Combined with its patient app, ViMove2 allows both patients and therapists to monitor progress and improve adherence to treatment regimes. Ultimately, the company believes this will lead to better patient outcomes.

Shareholders will no doubt be very pleased to see the DorsaVi’s share price continuing to head in the right direction. Around this time last month its shares sank to a 52-week low of 26 cents.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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