RMED - Ra Medical stock soars 68% on FDA nod for DABRA 2 catheter while board continues strategic review

• The U.S. Food and Drug Administration granted 510(k) clearance to Ra Medical Systems' ( NYSE: RMED ) DABRA 2.0 catheter as part of the DABRA Excimer Laser System.
• The company said the the next-generation DABRA catheter has new features which include a braided overjacket design to improve deliverability and kink resistance when navigating tortuous anatomy, and a six-month shelf life.
• Ra Medical CEO Will McGuire that currently the company has no plans to commercialize the DABRA 2.0.
• Ra Medical added that its board continues to review strategic alternatives, which were announced on May 16.
• The company noted that in June it notified the SEC that it had terminated 65% of its full-time employees while the remaining employees were offered conditional retention arrangements for ~60 days, as it evaluates its personnel needs based on its financial status and the board's review of strategic alternatives.
• RMED +68.28% to $0.52 premarket July 5

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