Bovie Medical Corporation (Amex: BVX) is a small $53 million company, so any approvals may really help. The company announced that it has received its 510k marketing approval from the Food & Drug Administration which will allow the company to go out and market its J-Plasma handpiece with a retractable cutting feature for soft tissue coagulation during surgery.
The handpiece will be powered by Bovie’s GS electrosurgical generator, which was already given prior 510k marketing clearance. The company and surgeons will introduce the J-Plasma at selected hospital beta sites and it plans to have a market launch later this year by its independent sales distribution network.
Bovie has four patents related to its J-Plasma™ technology with three additional patent applications pending.
Bovie shares are not yet trading but closed at $3.03 on Tuesday against a 52-week trading range of $1.90 to $3.66. Again, the market cap is only $53 million.