ChromaVision Resolves Regulators’ Warning
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Shares of ChromaVision Medical Systems Inc. surged 23% after the company said it had resolved a warning federal regulators issued in December about exaggerated claims made on the company’s Web site.
The San Juan Capistrano-based medical device company said it now complies with Food and Drug Administration guidelines after removing claims from its Web site that its cell imaging system can be used to track the spread of cancer.
The FDA said in its warning letter, considered a reprimand, that the system has been cleared only to detect, count and classify cells. The agency has been cracking down on what it considers misleading claims made by medical device manufacturers on the Internet.
The company’s stock rose 78 cents to close at $4.16 on Nasdaq. The shares have gained 58% since the beginning of the year.
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