January 21, 2008 / 7:34 AM / 11 years ago

Shares of Singapore's Biosensors rise 3.8 pct on EU approval

SINGAPORE, Jan 21 (Reuters) - Shares of Biosensors International BIOS.SI rose 3.8 percent to S$1.08 at open on Monday after the firm said it has received regulatory approval to sell its BioMatrix heart stents in Europe.

The heart-stent maker, which has been waiting for its CE Mark since April 2005, said in a conference call on Friday that it has finally received the certification.

At 0101 GMT, Biosensors shares were up 4.8 percent to S$1.09 with 4.3 traded. Biosensors shares closed at S$1.04 last Thursday.

The firm, which in November posted a net loss of $3 million for its half year fiscal 2008, expects higher revenue from the heart stents to return it to profitability in fiscal year 2009.

(Reporting by Melanie Lee; Editing by Ovais Subhani)

((melaniest.lee@reuters.com; +65 6403 5666; Reuters Messaging: melaniest.lee.reuters.com@reuters.net))

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