BioLase Stock Up After FDA OKs Teeth-Whitening Laser
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Shares of BioLase Technology Inc. jumped 27% Wednesday after the San Clemente laser maker said that federal regulators have approved one of its lasers for whitening teeth.
The company’s stock gained 66 cents to close at $3.03 a share on the Nasdaq small-cap market.
The company said its TwiLite diode laser system for laser whitening of teeth will be marketed along with a gel called LazerSmile. The laser is designed to whiten teeth in about three minutes, much faster than other lasers on the market, the company said.
The U.S. Food and Drug Administration’s approval is “meaningful and significant,” said Scott Baily, a medical technology analyst with BlueStone Capital Securities in New York City. He said it could add $1 million this year to BioLase’s revenue, which he projects at $15 million. Baily recommends the stock as a “strong buy.”
BioLase Chief Executive Jeffrey W. Jones said he plans to invite hundreds of dentists to company-sponsored seminars throughout the year to teach them about the TwiLite laser, which received FDA approval in late 1999 for a variety of soft tissue procedures like treating gum disease.
The TwiLite laser sells for about $19,000.
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