FDA Clears NanoKnife BPH Study, Shares Surge 11% to 52-Week High
ANGO sits 62% above its 52-week low of $8.36.
Summary
The FDA cleared AngioDynamics' RELIEF study for NanoKnife in benign prostatic hyperplasia (BPH), a new indication that expands the device's addressable market. The news, combined with positive PRESERVE trial data for prostate cancer, sent shares up 11% to a 52-week intraday high. HC Wainwright upgraded the stock to Buy and raised its price target to $19 from $16, reflecting increased confidence in the Med Tech pipeline. This follows the FY2026 earnings report a week ago, which showed 18.4% Med Tech growth and a debt-free balance sheet with $53.9M in cash. The RELIEF clearance opens a large, competitive urology market and could accelerate revenue growth beyond current levels.
At the time of this announcement, ANGO was trading at $13.51 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $558.4M. The 52-week trading range was $8.36 to $15.20. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.