Trimedyne Inc.: A court has ruled that...

Trimedyne Inc.: A court has ruled that the Irvine-based manufacturer of surgical laser devices does not have an exclusive license to market its Lateralase catheter, the company said Tuesday.

However, Trimedyne said it will not appeal the ruling, and that it does not expect the decision to have a materially adverse effect on its business.

The company’s stock fell 12.5 cents Tuesday in over-the-counter trading, to close at $9.

Earlier this month, Trimedyne received the approval of the federal Food and Drug Administration to market the laser as a treatment for stomach and intestinal maladies.