Micro Therapeutics Gets Boost From FDA

Shares of Micro Therapeutics Inc. jumped 34% Tuesday after the Irvine medical device company said it had received federal clearance to expand its U.S. aneurysm treatment feasibility study to three sites and 25 patients.

The company’s stock gained $1.88 a share to close at $7.31 in Nasdaq trading.

Micro Therapeutics said in a press release that the U.S. Food and Drug Administration allowed the company to expand the study beyond treatment of 10 patients. The study of the use of the company’s Onyx Liquid Embolic system to treat brain aneurysms began last December.

In July, the company expanded clinical trials of the system to include a site in Turkey.