BIOL Stock Price Increased 80.09%: Why It Happened 

By Amit Chowdhry ● January 12, 2021
  • The stock price of BIOLASE Inc (NASDAQ: BIOL) has increased by 80.09% as it went from a previous close of $0.58 to $1.04. This is why it happened.

The stock price of BIOLASE Inc (NASDAQ: BIOL) has increased by 80.09% as it went from a previous close of $0.58 to $1.04. One of the main reasons why the stock price went up is due to an announcement by BIOLASE about an agreement with Dental Care Alliance (DCA) – which is one of the largest dental support organizations (DSO) in the US with over 330 affiliated practices in 20 states.

As part of the deal, BIOLASE will expand laser adoption and hands-on training programs in targeted geographies. And BIOLASE expects the agreement to lead to a rollout across all DCA offices in 2021.

BIOLASE is known as a medical device company that develops, manufactures, markets, and sells laser systems in dentistry and medicine. The company’s products advance the practice of dentistry and medicine for patients and healthcare professionals. And BIOLASE’s principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. BIOLASE sold over 41,200 laser systems to date in over 80 countries around the world. 

KEY QUOTES:

“BIOLASE’s’ EpicX and Epic Hygiene lasers are the standard of care in the dental industry. We believe the adoption of this leading technology in our offices will provide a new standard of care for our hygiene appointments, while ensuring a safer environment by reducing aerosolization and addressing early stage periodontal disease. We are excited about the prospect of providing aerosol-free, less invasive soft tissue procedures, thereby creating a superior patient experience.”

— Dr. Don Gallo, Chief Clinical Officer for DCA

“Our industry leading dental lasers allow us to properly service a customer like DCA, and by reducing aerosols in dental offices we believe we can improve the safety of its office staff and patients. The demand for EpicX and Epic Hygiene lasers is rising, and this year alone we have sold over 100 systems to DCA. We are excited to be partnering with DCA as they continue to roll out our Epic lasers across their U.S. offices.”

— Todd Norbe, BIOLASE President and CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.