Mendota Heights Company's Artery Plaque-Busting Device Sends Stock Soaring

Cardiovascular Systems' stock rose almost 17 percent Monday after the Mendota Heights company announced test results for a device designed to remove plaque buildup from arteries.

The stock price closed at $19.23 per share Monday, according to the Minneapolis St. Paul Business Journal, and stayed steady through the afternoon Tuesday.

The device, called the Diamondback 360, uses a rotating, diamond-encrusted crown to remove stubborn plaque from arteries, the journal reported.

The company reported results over the weekend from a 30-day clinical trial that showed the device beat exceeding safety and efficacy expectations by a "significant margin."

Cardiovascular Systems estimated the market for treating patients with severely calculated lesions could be upward of $1.5 billion.