Sunshine Heart Surges 25% on CE Mark

Shares of Sunshine Heart

were seeing strength during Wednesday's trading session after the company announced it received CE Mark approval. Sunshine Heart received CE Mark approval for its C-Pulse Heart Assist System for the treatment of Class III and ambulatory Class IV heart failure. This will allow for commercialization of the technology in Europe and countries in Asia and Latin America that recognize the CE Mark. The Class III heart failure population is estimated at 3.7 million patients in the European Union, and currently, there are limited, and often, unsuccessful treatment options for this patient population. "We are proud to have achieved another significant milestone in the Company's history. The CE Mark approval includes our second generation driver, cuff and other components which we believe will improve the overall device performance and ultimately patients' quality of life," said Dave Rosa, Chief Executive Officer of Sunshine Heart. Wednesday, shares of Sunshine Heart traded up over 18 percent, at about $11.91 per share.