The medical device sector has grown by leaps and bounds grown by leaps and bounds over the course of the past few years and there are now plenty of options for investors who might want to cash in on the sector. One of the medical device companies that you could look into at this point is Ra Medical Systems Inc (NYSEAMERICAN:RMED).
Trading Data
On Thursday, RMED stock moved up 3.21% to $0.4025 with 7.27 million share, compared to its average volume of 1.19 million shares. The stock moved within a range of $0.3801 – 0.4248 after opening trade at $0.3805.
Ra Medical Systems Granted U.S. Patent for a Support Catheter for use Supporting a Liquid Core Ablation Catheter
The Ra Medical stock has been in the middle of a rollicking over the course of the past week and has managed to generate gains of as much as 22% amidst heavy interest. In this situation, it may be the right time for investors to look into a key development from yesterday.
Yesterday the company announced that the United States Patent and Trademark Officer had awarded it a patent for its support catheter that is supposed to be used in conjunction with a small but flexible liquid core catheter.
It was a major new announcement from the company and it is going to be interesting to see if it can lead to even more traction for the Ra Medical stock in the coming days. At this point, it may be a good idea to add the stock to your watch lists.
Key Quote
“We now have patent protection for a support catheter that could expand the range of solutions for physicians who want to utilize our DABRA liquid core ablation catheters in challenging anatomies,” said Will McGuire, Ra Medical Systems CEO. “We believe this patent expands our strong intellectual property portfolio, which will be beneficial when we return the DABRA excimer laser system to full commercialization.”
Technical Data
RMED stock is trading below the 20-Day and 50-Day Moving averages of $0.83 and $1.37 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.99.
