CRY CryoLife Inc

CryoLife Inc. (CRY) said it received clearance from the U.S. Food and Drug Administration extending the shelf life of its replacement pulmonary human heart valve.

Shares climbed 7.6% premarket to $5.51. The stock through Monday was down 20% this year.

The clearance extended the shelf life of the company's CryoValve product to five years from one, which "simplifies purchasing decisions and tissue inventory management issues presented to hospitals by the previous one-year shelf life," President and Chief Executive Steven G. Anderson said.

The maker of heart valves, surgical adhesives and implantable tissues' latest quarter profit was virtually unchanged from a year earlier as revenue climbed 11%. It recently withdrew a bid to buy Medafor Inc., of which it is the largest shareholder, after the target rejected the offer as too low.

-By Matt Jarzemsky; Dow Jones Newswires; 212-416-2240, matthew.jarzemsky@dowjones.com