Palomar Says FDA Approved At-home Wrinkle Laser

BURLINGTON, Mass. (AP) — Palomar Medical Technologies Inc. said Friday it has received approval to market a home-use laser device to treat wrinkles around the eyes.

Palomar said it received approval from the Food and Drug Administration to market the laser device over-the-counter and directly to consumers. The company currently markets light-based cosmetic treatment systems, including a lipolysis product. Palomar said the market for a laser that can treat wrinkles in the home, rather than in a doctor's office, could be in the billions of dollars.

In morning trading, the company's stock rocketed $4.89, or 44.6 percent, to $15.85, and hit an annual high of $16.38.

The device was developed with Johnson & Johnson Consumer Companies.