Kyphon Inc. said Monday that it had received U.S. regulatory approval for a bone cement used to treat fractures in the spine brought on by osteoporosis.
Shares of the Sunnyvale, Calif.-based company closed up $4.36, or 17.96%, at $28.64 in Nasdaq trading.
WR Hambrecht & Co. analyst David Turkaly said the bone cement was the first material specifically indicated for the treatment of osteoporotic fractures.
