By Chris Wack

Butterfly Network shares were up 22% to $1.23 after the company received Food and Drug Administration clearance of its next-generation handheld point-of-care ultrasound system, Butterfly iQ3.

The stock has risen 36% in the last month, but is down 45% in the past year.

The digital health company said the new device is its third iteration of the world's first semiconductor-based single-probe, whole-body ultrasound system.

Butterfly iQ3 features include a new ergonomic design and it will deliver double the data processing speed for optimized image resolution, sensitivity and penetration.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 08, 2024 12:38 ET (17:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.
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