BIOLASE, Inc. (BIOL), a medical device company and a global leader in dental lasers, and EdgeEndo, an endodontic supply company specializing in revolutionizing endodontics, has announced an advanced Laser-Assisted Microfluidic Irrigation device for endodontists. The newly manufactured device will differentiate by offering a solution for versatile cleaning and improved disinfection techniques. BIOL stock increased substantially adjacent to the news.
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BIOLASE is expected to submit a premarket notification to the FDA, by the second quarter of 2021. The co-founded device has not been officially released yet. The patented device has proven to bring vast improvement to debridement, cleaning, and disinfection by up to 99%, and significantly removes smear by its next-generation laser light sound technology.
At last check in current trading, shares of BIOLASE Inc. (BIOL) were up 2.04% at $0.71. BIOL’s stock closed the last session at $0.70. The price range of the company’s shares was between $0.69 and $0.7498. It traded 3.72 million shares, which was below its daily average of 25.59 million shares over 100 days.
About Biolase
BIOLASE specializes in healthcare device company that produces and commercializes dental laser systems, producing state of the art endodontics for medical professionals. BIOLASE’s product line includes 271 patented and 40 patent-pending healthcare devices manufactured to provide state-of-the-art performance emphasizing upon decreased pain and less recovery time.
BIOLASE’s advanced devices are sold at competitive prices to deliver improved results for dentists and patients. BIOLASE’s principal products include dental laser systems that are used in a vast range of dental surgeries, such as cosmetic procedures. A total of 41,200 laser systems have been sold, around the world, in over 80 countries.
In accordance to a statement by BIOLASE president John Beaver, approximately 75% of endodontists established in the US regularly use EdgeEndo endodontic files, emphasizing upon the increasing market share of their co-founder product. Furthermore, the company is focusing heavily on its commercial channels and to improve patient experiences.
The minimally invasive technology has been proven to substantially enhance clinical outcomes, with a target market of more than 200,00 general dentists in the US and a vast number of patients, skyrocketing the demand for an endodontic-specific product.
Conclusion
BIOL is anticipated to produce a decent profit as their stock price surged 3.37% after announcing to produce an endodontic product with leading endodontic company Edge-endo. Furthermore, careful consideration of consumer orientation as well as producing minimally invasive products has increased investor expectations for the company.
