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STAAR Surgical Shares Rise After FDA Approval of EVO Lenses

Published 28/03/2022, 18:36
© Reuters.
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By Sam Boughedda

Investing.com -- STAAR Surgical (NASDAQ:STAA) announced the FDA approval of its EVO/EVO+ Visian Implantable Collamer Lenses Monday, sending its shares 9.4% higher.

The lenses are used to correct myopia, also known as nearsightedness. 

According to STAAR, myopia is a common vision disorder, with an estimated 100 million adults between 21 and 45 being potential candidates for EVO.

Caren Mason, president and CEO of STAAR Surgical, said the product has an approval rating of 99.4% after a survey of one million patients to have had the procedure showed "they would have the procedure again."

EVO will be for use in phakic eye treatment in patients 21–45 years of age for the correction of myopia and myopic astigmatism. 

STAAR Surgical was recently upgraded to buy at BTIG by analyst Ryan Zimmerman. The analyst said he expects the company's fundamentals to improve in the second half of 2022.

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