UPDATE 2-BSD Medical gets FDA nod for tissue device, shares soar

* Gets U.S. nod for MicroThermX Microwave ablation system

* Sees significant revenue stream from device

* Says European nod for device “imminent”

* Market capitalization more than doubles
(Adds detail on technology; updates share movement)

Aug 18 (BestGrowthStock) – BSD Medical Corp’s (BSDM.O: ) shares more
than doubled in value after the company said it received U.S.
regulatory nod to market its device to destroy diseased soft
tissue.

The U.S. company develops devices that use focused radio
frequency, or microwave energy, to destroy cancerous and other
diseased tissues.

Shares of the Salt Lake City, Utah-based company have
fallen 76 percent from their 52-week high of $4.77 that they
hit last September when a German study showed that its heat
treatment helped cancer patients. The stock was trading at
$2.54 Wednesday morning on Nasdaq.

On Wednesday, the company said the MTX-180 MicroThermX
Microwave Ablation System, a minimally invasive device
delivering targeted microwave energy to soft tissues, is also
expected to win similar approval from European health
regulators.

Soft tissues connect, support or surround non-skeletal
structures in the body, such as muscles, ligaments and tendons.

BSD Medical said it expects a significant revenue stream
from the MTX-180 device, but did not disclose further details.
The company estimates the global soft tissue ablation market to
potentially be worth over $2 billion.

The company’s BSD-500 Hyperthermia System, which works on
the same principle as MicroThermX device, is already approved
for use in the treatment of certain surface or sub-surface
malignant tumors.
(Reporting by Soham Chatterjee and Vidya L Nathan in
Bangalore; Editing by Aradhana Aravindan)

UPDATE 2-BSD Medical gets FDA nod for tissue device, shares soar