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.
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.