Why Ra Medical Systems Shares Are Trading Higher Today?

The FDA has cleared RA Medical Systems Inc's RMED DABRA 2.0 catheter as part of the DABRA Excimer Laser System.
This next-generation DABRA catheter features enhancements, including a braided over jacket design intended to improve deliverability and kink resistance when navigating tortuous anatomy and six-month shelf life.
"While we are pleased to receive this regulatory clearance, it comes as our Board continues its evaluation of strategic alternatives to optimize our Company's path forward in the current challenging economic environment," said Will McGuire, Ra Medical Systems CEO.
"As we have previously announced, the DABRA 2.0 catheter represents an interim step in our work to develop a guidewire-compatible version of the DABRA catheter. At this time, we have no plans to commercialize the DABRA 2.0," he added.
In May, RA Medical Systems disclosed that it is reviewing strategic alternatives.
In June, the company reduced its workforce by approximately 65%.
Price Action: RMED shares are up 52.1% at $0.47 during the premarket session on the last check Tuesday.