Kyphon Cement Approved for Osteoporosis
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Kyphon Inc. said Monday that it had received U.S. regulatory approval for a bone cement used to treat fractures in the spine brought on by osteoporosis.
Shares of the Sunnyvale, Calif.-based company closed up $4.36, or 17.96%, at $28.64 in Nasdaq trading.
WR Hambrecht & Co. analyst David Turkaly said the bone cement was the first material specifically indicated for the treatment of osteoporotic fractures.
“This is clearly good news for the company, as the ultimate regulatory pathway had been a lingering concern for some investors,” Turkaly said.
The company said its KyphX HV-R bone cement would be used with balloon kyphoplasty, a less invasive method of performing spinal surgery.
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