PLC Systems Inc. (PLCSF) favorable product news boosts stock
Posted on: August 18th, 2011Written by:
PLC Systems Inc. (OTCBB: PLCSF) powered ahead 77.8% to 16 cents Thursday, on encouraging news for one of its renal medicines. Volume for the stock was 30,000 shares, more than five times its daily average.
A news release put out early August 18 announced that final results from the REMEDIAL II investigator-sponsored clinical trial of RenalGuard® in Italy have been published on-line in Circulation, a peer-reviewed journal of the American Heart Association with a distribution of 23,900 worldwide, and will appear in the September 2011 issue of the publication. The results from this trial showed that RenalGuard is superior to the current standard of care at preventing Contrast-Induced Nephropathy (CIN) and in-hospital dialysis in high-risk patients undergoing certain imaging procedures.
Company CEO Mark Tauscher was quoted in the same release as saying, “The positive results of the REMEDIAL II clinical trial demonstrate with scientifically significant findings that RenalGuard is a superior approach to reducing the incidence of CIN in high-risk patients. This is another important proof point for RenalGuard and for PLC, and we’re delighted that these results have been favorably evaluated by Circulation’s advisory board and are now being shared with practitioners and potential partners from around the world.”
PLC Systems Inc., headquartered in Milford, Mass., is a medical device company focused on innovative technologies for the cardiac and vascular markets.
