Celsion (cln)

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AP
Celsion Launches Prolieve on FDA OK
Friday August 11, 11:21 am ET
Celsion Launches Prolieve Enlarged Prostate Treatment System on FDA Approval


COLUMBIA, Md. (AP) -- Medical device maker Celsion Corp. said Friday it started shipping a modified version of its enlarged prostate treatment system after the Food and Drug Administration approved a supplemental marketing application.
The Prolieve Thermodilation system uses microwaves to treat benign prostatic hyperplasia, a non-cancerous enlargement of the prostate. In late July, the agency accepted the marketing application.

At the end of the first quarter, the company switched manufacturers to reduce costs and because of a scaling up problem and had to reapply with the FDA.

Celsion will begin shipments to distributor Boston Scientific Corp.

Celsion shares rose 41 cents, or 19 percent, to $2.56 in morning trading on the American Stock Exchange. Shares have traded between $1.50 and $6.60 over the past 52 weeks. Boston Scientific shares added 58 cents, or 3.7 percent, to $16.28 on the New York Stock Exchange.