Reuters: Global Markets: Biolase shares soar as dental laser device gets approval

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Biolase shares soar as dental laser device gets approval Oct 3rd 2012, 14:55 Wed Oct 3, 2012 10:55am EDT (Reuters) - Biolase Inc (BIOL.O) said health regulators in Europe and the United States granted approval for its laser device Epic 10 for use in soft tissue dental surgery and other procedures, sending its shares up as much as 34 percent. The Irvine, California based company said it received approval from the U.S. Food and Drug Administration on Oct 1 and immediately began selling the product in the United States. The dental laser maker said it also began selling the device in Europe and some Asian and Latin American countries after getting the Conformite Europeene (CE) Mark approval. "We expect the Epic 10 to make significant contributions to our revenue in the 2012 fourth quarter and beyond," Biolase's chief executive Federico Pignatelli said. The company's shares rose to $2.26 in early trade on the Nasdaq. About 1.6 million shares changed hands by 10.40 ET, 15 times their 25-day average daily volume.

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