11:38 AM EST, 11/04/2024 (MT Newswires) -- Nuwellis ( NUWE ) shares more than doubled in recent Monday trading after the Centers for Medicare and Medicaid Services almost quintupled the reimbursement rate for the company's Aduadex SmartFlow therapy, effective Jan. 1.

The (CMS) "will reassign the Aquadex ultrafiltration code to the outpatient reimbursement level most consistent with administration of ultrafiltration therapy and cost of treatment" with the payment rate increasing to $1,639 a day from $413, Nuwellis ( NUWE ) said Monday in a statement.

The reassignment recognizes the effectiveness of the therapy for the treatment of fluid overload in heart failure patients.

Price: 2.98, Change: +1.62, Percent Change: +119.26