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.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
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.