Rear guard effort.Efforts by executives of Staar Surgical Co. to put to rest questions about its implantable contact lenses implantable contact lens Ophthalmology A refractive lens implanted over the natural lens of the eye for correcting myopia and farsightedness. See Myopia. failed to reassure re·as·sure tr.v. re·as·sured, re·as·sur·ing, re·as·sures 1. To restore confidence to. 2. To assure again. 3. To reinsure. investors last week, as the company's stock remained at depleted de·plete tr.v. de·plet·ed, de·plet·ing, de·pletes To decrease the fullness of; use up or empty out. [Latin d levels. On Jan. 6, the Monrovia-based company disclosed it had received a warning letter from the Food and Drug Administration about quality control procedures and problems with one of its lenses. The stock fell 18 percent on the news. In a conference call Jan. 7, Chief Executive David Bailey David Bailey may refer to:
v. blurred, blur·ring, blurs v.tr. 1. To make indistinct and hazy in outline or appearance; obscure. 2. To smear or stain; smudge. 3. vision, tears and other vision problems. He also said he expected the company to be fully able to address the agency's concerns and believed Staar was still on track to gain approval to sell a mass market version of its implantable contact lens later this year. Bailey's efforts failed to calm investors, who continued to drive the stock down. By the Jan. 8 close, it had fallen to $8.92, a 20 percent cumulative decline. The stock reached a high of $15.44 on July 7, 2003. |
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