OrthoPediatrics Corp. Receives "Breakthrough Device" Designation From FDA For eLLi Growing Rod System For Pediatric Patients With Scoliosis
Portfolio Pulse from Benzinga Newsdesk
OrthoPediatrics Corp. (NASDAQ:KIDS) announced receiving the FDA's "Breakthrough Device" designation for its eLLi Growing Rod System, aimed at treating Early Onset Scoliosis (EOS). This designation expedites the development and review of medical devices that offer more effective treatments for life-threatening or irreversibly debilitating diseases. The eLLi system provides a non-invasive means to extend growing rods with increased force, enhanced mechanical reliability, and superior distraction precision, addressing safety concerns of current technologies.
May 02, 2024 | 9:12 pm
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OrthoPediatrics Corp. received the FDA's "Breakthrough Device" designation for its eLLi Growing Rod System, designed for treating pediatric patients with Early Onset Scoliosis. This designation is expected to expedite the device's development and review process, potentially leading to quicker market access.
The FDA's "Breakthrough Device" designation is a significant positive development for OrthoPediatrics Corp., as it not only validates the innovative nature of the eLLi Growing Rod System but also potentially accelerates its path to market. This can lead to an increase in investor confidence, potentially boosting the stock price in the short term. The designation highlights the company's commitment to advancing pediatric orthopedics and may enhance its reputation and market position.
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