Why Shockwave Medical Stock Jumped Today

Shares of Shockwave Medical (NASDAQ: SWAV) popped 17.8% on Tuesday, following the release of the healthcare company's first-quarter results. 

Shockwave Medical's revenue soared 110% year over year to $31.9 million. The gains were fueled by the U.S. launch of the medical device maker's new Shockwave C2 product, which uses sonic waves that break up calcium deposits in arteries.

CEO Doug Godshall said that following Food and Drug Administration (FDA) approval of the device in February, Shockwave Medical is "well-positioned to continue to expand our reach in helping to treat patients with severely calcified arterial disease."

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Source Fool.com