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Venus Concept (VERO) Stock Rose 114% on 501k FDA Clearance

Simon Mugo trader
Updated 21 Dec 2022

The Venus Concept Inc (NASDAQ: VERO) stock price surged 114.28% after receiving a 510(k) clearance from the U.S. Food and Drug Administration (“FDA”) to market its AI.ME next-generation robotic technology for fractional skin resurfacing.

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Investors cheered the announcement, bringing Venus Concept closer to commercialising its AI.Me technology within the United States. The company expects to introduce its first AI.ME products through its top physician partners next year.

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Rajiv De Silva, Venus Concept Inc’s CEO, said: “We are very pleased to receive the first FDA regulatory clearance for our non-surgical robotic technology platform, AI.ME, and believe it showcases Venus Concept’s ongoing investment in technology, innovation, and clinical research towards robotics applications in medical aesthetics,” 

Adding: 

“AI.ME is a first-of-its-kind robotic platform offering physicians minimally-invasive treatments for high-demand procedures requiring fractional skin resurfacing. We see AI.ME as a versatile platform, and we will continue to develop the platform to provide innovative solutions in various areas of medical aesthetics, starting with fractional skin resurfacing.”

The CEO added that he believes the AI.Me technology will be critical to maximising the synergies between its medical aesthetics business, which is well-established, and its pioneering robotics business, which is being driven by a load R&D pipeline developed by its researchers. 

AI.ME’s robotic systems use an advanced visualization system, machine vision and AI algorithms to target the dermis in a selective pre-planned and predictable manner. 

It uses a smart array of micro-coring hollow punches to precisely core and excise micro-skin fractions at a pre-determined depth to remove up to 10% of skin in the treatment area. Once this step is completed, collagen is deposited on the treated surface, leading to fractional skin resurfacing. 

Girish (Gilly) Munavalli, MD, MHS, FACMS board-certified dermatologist and Venus Concept advisor, said: “Integrating the advancements of robotics into the area of minimally-invasive aesthetic procedures is very promising. This new technology may become a real game-changer in medical aesthetics, offering a new level of consistency, predictability, and visualization which will differentiate it from existing energy-based solutions.”

Venus Concept shares had given up most of their gains at the time of writing. 

*This is not investment advice. 

Venus concept (VERO) share price.

The Venus Concept (VERO) share price surged 114.28% to trade at $0.5400, from Tuesday’s closing price of $0.2520.


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading