CardioGenesis Stock Falls on FDA Decision
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CardioGenesis Corp. shares plummeted nearly 46% after the Orange County medical device maker failed to gain Food and Drug Administration approval for its laser treatment for angina.
CardioGenesis is exploring options for the treatment after the FDA asked for more information, the Foothill Ranch-based company said.
The laser treatment, which has been approved for use abroad, allows doctors to treat the severe form of chest pain without requiring surgeons to open a patient’s chest.
CardioGenesis dropped 32 cents to 38 cents on Nasdaq.
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