The Ellex Medical Lasers Limited (ASX: ELX) share price has been amongst the biggest movers on the local share market today.
In afternoon trade the shares of the Adelaide-based medical device company are up 5.5% to $1.05.
What happened?
This morning Ellex Medical Lasers provided the market with an update on its iTrack business segment.
The iTrack business segment is Ellex's wholly owned San Francisco-based subsidiary specialising in the treatment of glaucoma using its patented micro-catheter.
According to today's release the business is now experiencing significant month-on-month improvements in sales growth.
Management attributes this to the continued investment in sales and marketing, especially within the U.S. market.
Today's news will be a welcome relief to the company's shareholders. Despite today's gain, its shares are still down 25% year-to-date due largely to a disappointing update in February.
