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Medicsight Software Tool Approved

Medical-imaging software developer Medicsight (MGT - Get Report) was lower despite getting U.S. clearance for a software tool used to detect colorectal polyps.

The company's ColonCAR technology will help radiologists locate and measure polyps, which are abnormal growths that can lead to cancer. Once suspected polyps are found, the software can determine shape and features and automatically measure diameter and volume.

"We are really excited about bringing this innovative and leading product to market and the benefits it will mean for radiologists," says Etienne Vanderstokker, the company's CEO.

Separately, the company announced the launch of Medicexchange.com, a portal where specialists in radiology can download medical-imaging software and related clinical research.

Shares fell 3.5% to $4.20.

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