Shares of medical devices provider Ra Medical Systems (NYSE:RMED) are up nearly 23% in the pre-market session today on top of the 31% price gain the stock has posted over the last five sessions.
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Yesterday, Catheter Precision, which agreed to merge with Ra earlier this year, announced that it has performed over 800 procedures using the VIVO system. Catheter is now aiming to launch a vessel closure device in H1 2023.
The merger between the two companies is anticipated to close in Q4 2022 or Q1 2023.
Despite the recent gains, RMED shares are still down ~96% so far this year.
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