Palomar Medical (PMTI) Surges After Home Anti-Wrinkle Devices Given FDA Okay

Shares of Palomar Medical Technologies Inc. (Nasdaq: PMTI) are surging higher after the company announced that it has become the first company to receive a 510(k) over-the-counter (OTC) clearance from the FDA for a new, patented, home use, laser device for the treatment of periorbital wrinkles. The stocks is up 41% in mid-day action.

CEO Joseph P. Caruso said, "This FDA clearance for a laser to treat wrinkles in the home opens up a tremendous opportunity to tap into the multi-billion dollar consumer skin care market with our patented technology."

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