Butterfly Network Shares Rise 22% After FDA Clearance of Ultrasound System

By Chris Wack

Butterfly Network shares were up 22% to $1.23 after the company received Food and Drug Administration clearance of its next-generation handheld point-of-care ultrasound system, Butterfly iQ3.

The stock has risen 36% in the last month, but is down 45% in the past year.

The digital health company said the new device is its third iteration of the world's first semiconductor-based single-probe, whole-body ultrasound system.

Butterfly iQ3 features include a new ergonomic design and it will deliver double the data processing speed for optimized image resolution, sensitivity and penetration.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

01-08-24 1238ET