TriPath PREPmate Approval Lifts Stock 60%; OTC Index Outperforms Nasdaq
This article was originally published in The Gray Sheet
Executive Summary
FDA approval of TriPath Imaging's PREPmate automated accessory for the AutoCyte PREP thin-layer sample preparation system combined with strong first-quarter earnings helped boost the company's stock price 60% in May. The issue advanced 3.27 points to close the month at 8.77.
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TriPath Imaging's PREPmate
Accessory to AutoCyte PREP gains FDA approval, firm announces May 31. PREPmate system aids in preparing thin-layer slides by automatically mixing and removing specimen from CytoRich preservative fluid vials and layering it on a slide. FDA had previously said it would not approve the PMA supplement, filed in October 1999, until it investigated assertions made by a former employee questioning the use of AutoPap to screen thin-layer preparations (1"The Gray Sheet" April 9, 2001, In Brief)
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