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Premier Laser Stock Resumes Trading

October 23, 1998|(Barbara Marsh)

The stock of Premier Laser Systems Inc., the Irvine developer of highly touted dental lasers approved for work on cavities, resumed trading on Nasdaq. The stock closed at $3.13, off $1.06 a share from its closing price May 22, the last session before trading was halted. But Colette Cozean, the company's chairwoman, said she considered the performance heartening. Last week, a company laser received Food and Drug Administration approval for treating children's cavities, but the effect on the stock appeared to be modest Thursday, unlike the surge last year when the same laser was approved for use on adult teeth. Premier's stock slumped earlier this year after the company became involved in a dispute with a key distributor, had to restate two years of earnings and was hit with the resignation of its outside auditor.

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