The Impedimed Limited (ASX: IPD) share price has had a strong start to the week.
In afternoon trade the medical technology company’s shares are up over 4% to 64.7 cents.
Why have its shares climbed higher?
This morning Impedimed announced that the U.S. Food and Drug Administration has issued a 510(k) clearance to market for its SOZO product designed to aid in the clinical assessment of unilateral lymphoedema in the United States.
This clearance puts the company ahead of schedule for the launch of SOZO in the United States and allows it to expedite its regulatory strategy for additional SOZO indications.
These include fluid status monitoring for patients living with heart failure.
Today’s gain will be a welcome relief to shareholders. The Impedimed share price is down 37% year-to-date.
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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.