Cochlear share price charges higher on US FDA update

The Cochlear Limited (ASX: COH) share price is pushing higher on Friday after the release of a positive update.

At the time of writing the implantable hearing solutions company’s shares are up 2% to $196.28.

What did Cochlear announce?

This morning Cochlear announced that it has obtained US FDA approval for four new hearing technology solutions products.

These include the Nucleus Kanso 2 Sound Processor, Nucleus 7 Sound Processor for Nucleus 22 implant recipients, Custom Sound Pro fitting software, and the Nucleus SmartNav system.

Management notes that these products reflect its ongoing commitment to innovation in hearing technology. The four new systems will be commercially released in the United States and Western Europe in the coming months. This is subject to local approvals.

Nucleus Kanso 2 Sound Processor.

The Nucleus Kanso 2 Sound Processor is the world’s smallest off-the-ear cochlear implant sound processor with proven hearing performance technologies.

It is the first and only off-the-ear cochlear implant sound processor to offer direct streaming from compatible Apple or Android devices. It is also compatible with the Nucleus Smart App, enabling control of device settings, functions, and information.

Nucleus 7 Sound Processor for Nucleus 22 implant recipients.

The Cochlear Nucleus 7 Sound Processor is now compatible for cochlear implant recipients with a Nucleus 22 implant.

This means that current Nucleus 22 implant recipients can now upgrade to its latest behind-the-ear sound processor. They will also, for the first time, be able to access direct smartphone connectivity and streaming from compatible Apple or Android devices.

Custom Sound Pro fitting software.

The Custom Sound Pro supports clinicians in fitting Cochlear’s sound processors. Management advised that the software harnesses almost 40 years of experience and input from thousands of clinicians worldwide.

The fitting software keeps the patient at the centre of care. This is thanks to its new dashboard and Patient Goals feature, promoting patient engagement, and facilitating more effective tracking of progress between appointments.

Nucleus SmartNav system.

Finally, the Nucleus SmartNav system is a new tool that has been designed to support surgeons in optimising electrode placement during cochlear implant surgery.

It delivers wireless, actionable intraoperative insights to support electrode insertion with real-time navigation. This provides surgeons with added assurance of a successful surgical outcome for their patients.

The system consists of an innovative iPad-based solution and a surgical sound processor that presents an intuitive workflow to support surgery. This gives surgeons additional feedback for in-theatre decision making.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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