Cutera Shares Soar on Patent Settlement
From Bloomberg News
Shares of Cutera Inc. surged 34% after it agreed to pay at least $22 million to settle lawsuits filed by rival Palomar Medical Technologies Inc. over laser treatments to remove hair.
Cutera shares rose $6.31 to $25.09.
The settlement means Brisbane, Calif.-based Cutera can continue to sell its CoolGlide systems that use light from lasers or lamps to remove hair. A jury trial on the first of two suits by Burlington, Mass.-based Palomar against Cutera was to begin June 19 in Boston.
