Biolase (NASDAQ:BIOL) stock is flying high on Tuesday after announcing a massive deal for its dental lasers.
Here’s everything investors need to know about Biolase today as its stock soars higher.
- Biolase signed a deal with Dental Care Alliance to bring its dental lasers to its members.
- That will result in all of the organization’s affiliates adopting its dental lasers and starting hands-on training for them this year.
- Dental Care Alliance is one of the largest dental support organizations in the U.S. with 330 affiliated practices across 20 states.
- Biolase is a medical device company with a focus on dentistry and medicine.
- This has it handling the development, manufacturing, marketing, and sales of its products.
- Biolase laser products are proprietary and are protected by about 271 patents and 40 patent-pending technologies.
- The company has sold more than 41,200 of its laser systems in more than 80 countries.
- It was founded in 1984 and is currently lead by its president and CEO Todd Norbe.
- Norbe joined the company in 2018 and took on the role of CEO shortly afterward.
- Prior to this, he held executive positions at KaVo Kerr, a subsidiary of Danaher (NYSE:DHR).
- BIOL stock is seeing heavy trading following today’s news.
- As of this writing, more than 170 million shares have changed hands.
- To put that in perspective, the company’s daily average trading volume is 11.43 million shares.
- Its current market capitalization is sitting at roughly $83 million.
BIOL stock was up 51.8% as of Tuesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.