Biolase Technology (BIOL) Stock Price Soared By A Staggering 30.97%. Here’s What Happened

Biolase Technology  (BIOL), a renowned designer, manufacturer, and pioneer in dental laser technology, brings about an increase in advantages to dentists and their patients including a more pleasant treatment and healing experience, marketing their products online directly to various dental practices.


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Biolase showed positive gain on its current financial report of its fourth-quarter 2020 surging its stock substantially. BIOL revenue of $8.52 million plunged 16% year-over-year, however, a 31% quarterly gain made up for it and peaked investor interest.

BIOLprofitedthe trend of dental clinics starting to start their business following the economic recovery of 2H20. Biolase reported an increment of sales in the fourth quarter with 78% of latest sales coming from new customers and 40% from dental specialists an incredible increase compared to previous years.

Now What

BIOLconcluded a $14.4 million bought deal in February 2021 generating its capital to an incredible $40.0 million, which includes the proceeds from the warrants soldbyBiolase in their 2020 rights offering. Biolase also strengthened its balance sheet with cash on cash equivalents accounting for an incredible $17.9M on December 31.

The leading dental laser company also notified the project with Einstein Healthcare Network to instruct endodontic residents for the application of BIOLASE dental lasers.

The aim of the session being a practical experience with dental lasers providing ease in use and increased comfort for endodontic residents, allowing them to have hands-on experience when joining a future practice.

Conclusion

BIOL Stock has increased dramatically after announcing an increase in cash-on-cash equivalents and a massive surge in quarterly gains. Furthermore, providing hands on experience for endodontic residences and stimulation of economic recovery as the pandemic passes has peaked investor interest in Biolase shares.

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