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Micro-Cap Announces FDA Approval For Company’s Technology, Shares Spike To 52 Week High On News
By: AllPennyStocks.com News
September 17, 2009
Longevity in our society is almost commonplace, the contradiction being that enhancing and ensuring longer life spans is often a matter of swift seconds in which doctors can diagnose what is wrong and treat it accordingly. Time was when finding tumors and other agents doing evil to the body required cutting the patient open. Now, such devices as CT Scanners can render the knife unnecessary.
Add to this list a system made by San Diego-based SpectraScience, Inc. (OTCBB:SCIE), known as WavSTAT, a technology on which the company has taken out 60 patents dating back to 2000. SCIE boasts that its Optical Biopsy and LUMA(R) Cervical Cancer Imaging Systems can determine – without removing human tissue from the body -- whether that tissue is cancerous, pre-cancerous, or not malignant at all, and do so almost instantly. In mid-September, the company further added to its credibility by announcing that the latest enhancements of WavSTAT have been given pre-market approval by the Food and Drug Administration (FDA), and thus, ready for commercial distribution.
SpectraScience designs, develops, manufactures and markets spectrophotometry systems. With FDA approval for sale in the U.S. and the CE Mark for the European Union, the WavSTAT System is the first commercially available product that incorporates this innovative technology for clinical use. The system is indicated for use as an adjunct to lower gastrointestinal (GI) endoscopy and is intended for the evaluation of polyps less than one centimeter in diameter that the physician has not already elected to remove.
The LUMA Cervical Imaging System was developed to improve significantly the detection of high-grade precancerous cervical abnormalities that have the potential of becoming invasive cancer. Based on data from the National ALTS study, it is estimated that about 200,000 women with precancerous disease go undiagnosed each year.
“We believe,” declares the company website, “that the huge worldwide cancer diagnostic market will allow us to expand and ultimately become a major company dedicated to the well-being of our customers and their patients.”
Investors will also find much to cheer. The news of the FDA nod sent the stock briefly to a 52-week high of 1.765 cents on September 16, even though it closed at $0.72 that same day, after occupying a ditch of only 15 cents this March, when much of the market was in the doldrums. As this Company moves forward with the commercialization of their technology, look for interest among investors to keep growing.
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