ArthroCare Gains on FDA OK

The Food and Drug Administration has approved its bone resin product.
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shares rose Tuesday after the company said the Food and Drug Administration had approved its bone resin product.

The California-based company made the announcement about its Parallax Acrylic Resin for the fixation of pathological fractures of the vertebral body after markets had closed Monday.

"While this development will not have any material impact on fourth-quarter financials, it is a significant milestone for the company," ArthroCare said in a statement.

Painful vertebral compression fractures may result from osteoporosis, benign lesions and malignant lesions, according to the company.

Shares rose 73 cents, or 2.2%, to $33.12.