Cyberonics Announces Expansion Of Share Repurchase Program
Cyberonics, Inc. (NASDAQ:CYBX) today announced that its board of directors has approved a new share repurchase program of one million shares.
The company's board of directors had previously authorized repurchases of shares in February 2008, February, 2010, June 2011 and November 2011. This new authorization is expected to commence on completion of the current program.
Since February 2008, and through October 26, 2012, the company has repurchased over 2.9 million shares for approximately $80 million.
About Cyberonics, Inc. and the VNS Therapy® System
Cyberonics, Inc. is a medical technology company with core expertise in neuromodulation. The company developed and markets the VNS Therapy System, which is FDA-approved for the treatment of refractory epilepsy and treatment-resistant depression. The VNS Therapy System uses a surgically implanted medical device that delivers pulsed electrical signals to the vagus nerve. Cyberonics markets the VNS Therapy System in selected markets worldwide.
Additional information on Cyberonics and the VNS Therapy System is available at www.cyberonics.com.