Why STAAR Surgical Stock Is Surging Today

Shares of STAAR Surgical (NASDAQ: STAA) were surging 10.9% higher as of 11:17 a.m. ET after rising as much as 19.4% earlier in the day. The big gain came after the company announced that the U.S. Food and Drug Administration (FDA) approved the EVO/EVO+ Visian Implantable Collamer Lens for correcting myopia (nearsightedness) and myopia with astigmatism.

STAAR Surgical needed some good news. The healthcare stock had fallen more than 60% from its peak, set in September 2021, as of earlier this month. The FDA approval for EVO provided a well-deserved boost.

EVO has already won regulatory approvals outside of the U.S. Over 1 million EVO lenses have been implanted in other countries. STAAR's ex-U.S. momentum has been picking up, with EVO sales increasing 51% year over year in 2021.

Source Fool.com