The news of the shipment hold’s end was enough to counteract Q2 earnings misses, sending OM shares up 21.5% at $18.77 per share in midday trading. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.6%.
In June, the company announced that it was holding shipments of its Tablo hemodialysis system for home use as a result of a pending FDA review and clearance of a 510(k) submitted for changes made since the Tablo system’s original March 2020 clearance.
Last month, it was revealed that the company would face a shareholder lawsuit claiming that the company and its top executives made false and misleading positive statements leading up to the shipment hold announcement.
However, in announcing its s…