Vivos Therapeutics (NASDAQ:VVOS) stock is rocketing higher on Wednesday after the U.S. Food and Drug Administration (FDA) granted approval to its sleep apnea treatment device.
According to a press release from the company, it has been granted 510(k) clearance from the FDA for its removable CARE oral applications. That covers its DNA oral appliance, mRNA oral appliance and its mmRNA oral appliance.
Vivos points out that this is the first approval from the FDA for a device to treat patients with severe obstructive sleep apnea without CPAP or surgical neurostimulation implants. The treatment is approved for adults age 18 and over.
Kirk Huntsman, Chairman and CEO of Vivos Therapeutics, said the following about the news:
“This approval could also clear the way for greater reimbursement levels from medical insurance payors and Medicare. We believe that all these factors should favorably impact our ability to grow our revenues in 2024 and beyond.”
VVOS Stock Movement on Wednesday
Following today’s positive news, investors are buying up shares of VVOS stock. That has resulted in heavy trading with more than 31 million shares changing hands as of this writing. That’s a massive surge in trading volume compared to its daily average of around 208,000 shares.
VVOS stock is up 289.6% as of Wednesday morning.
Investors seeking out even more of the most recent stock market stories are going to want to keep reading!
We have all of the hottest stock market news that traders need to know about on Wednesday! Among that is what’s going on with BioVie (NASDAQ:BIVI) stock, a stock market crash warning and more. You can read up on all of these matters down below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
