Alphatec rises on spinal surgery device approval
Alphatec rises after FDA clears device designed to stabilize patient's spine during surgery
NEW YORK (AP) -- Shares of Alphatec Holdings Inc. jumped Tuesday after the company said regulators approved a device designed to stabilize a patient's spine during surgery.
The Food and Drug Administration will allow Alphatec to sell the Solus internal fixation anterior lumbar interbody fusion device. The Carlsbad, Calif., company said the Solus device provides more stability during surgery, allowing for simpler surgical techniques and giving surgeons more space to insert bone grafts.
Alphatec said it started selling the device in Europe in January.
Alphatec shares rose 25 cents, or 12.5 percent, to $2.25 in afternoon trading.
