Boston Scientific Stock Up On FDA Approval For LOTUS Edge Aortic Valve System

(RTTNews) - Boston Scientific Corp.'s (BSX) shares gained around 2 percent in the extended trading on Tuesday after the company announced it has received U.S. Food and Drug Administration approval for the LOTUS Edge Aortic Valve System.

The transcatheter aortic valve replacement or TAVR technology is delivered through a minimally-invasive procedure. The system is approved for patients with severe aortic stenosis who are considered at high risk for surgical valve replacement through open heart surgery.

The company initiated a controlled launch of the valve system in Europe in March, and in the coming weeks it will begin a controlled launch in the U.S.

According to the company, the LOTUS Edge valve system is the only FDA-approved aortic valve that gives physicians the option to reposition and completely recapture the valve once it has been fully deployed.

Boston Scientific shares settled on Tuesday regular trading at $35.89, up 2.75%. In the after hours trading, shares gained 2.06 percent further to $36.63.