Venus Concept Inc (NASDAQ:VERO) shares went skyward in Thursday trading after the company reported clearance from the Food and Drug Administration for Venus Viva MD.
The company, based in Toronto, told investors Venus Viva MD is a non-invasive device intended to be used by aesthetic-related physicians or dermatologists. It expands the Company’s skin rejuvenation offerings beyond the Venus Viva™ and Venus Versa™ which were introduced to the medical aesthetics market in 2015 and 2016, respectively.
The Venus Viva MD is a portable and versatile tabletop device that enables a wide range of treatments with two applicators. When used with the new Viva MD applicator, the Venus Viva MD device is intended for use in dermatological procedures requiring ablation and resurfacing of the skin including conditions such as acne scars, dyschromia, striae and enlarged pores.
Said CEO Domenic Serafino, "The Venus Viva MD is a product we designed specifically for dermatologists and plastic surgeons in the U.S. which leverages our strong skin rejuvenation offerings in Venus Viva and Venus Versa, but offers differentiated features that allow clinicians in the traditional medical aesthetics community to treat a wider range of skin conditions.
"Importantly, this new product introduction is another example of our continued focus on introducing new and innovative technology solutions each year, while also identifying ways to enhance the contributions to our overall growth from the sale of utilization-based handpieces over time."
Venus shares triumphed 83 cents, or 26%, to $4.02.
