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Shares of
Oculus Innovative Sciences, Inc., a nano-cap specialty device and pharmaceutical company that focuses on the treatment of dermatological conditions, were trading higher by more than 23 percent early Wednesday morning.
Oculus
announced that it has received European approval to market its Sinudox solution, a formulation intended for nasal irrigation including the moistening of cuts, abrasions and lacerations located in the nasal cavity.
Oculus added that it is currently in discussions with firms in Europe for a potential partnership which would involve the distribution of Sinudox.
Lori Smith, senior vice president of marketing and sales for Oculus said, "We are pleased that the European regulatory agency recognizes our Microcyn-based Sinudox as sufficiently safe to be used on mucous membranes in the nasal cavity. Each year, hundreds of thousands of people undergo surgery of the nose for cosmetic purposes as well as for common intranasal surgeries, including chronic sinusitis, septoplasty, turbinate reductions and the removal of nasal polyps. We believe Sinudox can be an important new product for healthcare professionals in both the cosmetic and traditional nasal surgery settings."
Oculus also pointed out in its press release that chronic sinusitis is one of the more prevalent chronic illnesses in the US with a prevalence rate of 146 per 1000 population. For unknown reasons, the company added that the incidence of this disease appears to be increasing yearly.
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