Thinly traded nano cap Medigus (NASDAQ:MDGS) is up 18% premarket on robust volume in response to its announcement that ten MUSE procedures have been performed in China in the initial phase of its clinical study there. The trial will eventually involve ~62 patients. The procedures will be performed through this year with results to be reported to the CFDA in 2018 as part of the company's marketing application.
The MUSE system is a single-use transoral stapler that incorporates an ultrasonic sight and range finder and a micro ScoutCam CMOS camera, enabling a single doctor to perform an incisionless transoral fundoplication (a procedure to treat the anatomical cause of gastroesophageal reflux disease or GERD). Since the device does not require any incisions, there is much less discomfort for the patient during the procedure with hospital stays reduced by up to 50%.
Previously: First MUSE procedure completed in China; Medigus up 25% premarket (March 9)