Laserscope Says Laser Is FDA-Approvable

Laserscope said the Food and Drug Administration said its laser therapy is approvable for use in certain early-stage lung cancers. The San Jose-based company said final FDA approval for the laser would depend upon the agency’s approval of a separate drug component, because that drug and device are “bundled” as a unified system. Shares in Laserscope closed $1.19 higher at $6.50 on Nasdaq. The FDA letter “means all their questions are answered,” said Laserscope spokesman Richard Wood. Laserscope’s photodynamic therapy system uses lasers to remove cancer cells that have been sensitized with a drug called Photofrin, made by QLT PhotoTherapeutics Inc. Shares in Canadian pharmaceutical company QLT rose 25 cents to close at $19.50 in Nasdaq trading.