Intersect Ent Inc. has received approval from the FDA for its Sinuva sinus implant, a targeted approach to treating recurrent nasal polyp disease in patients who have had previous ethmoid sinus surgery. Upon news of the approval, shares of the Menlo Park, Calif.-based company (NASDAQ:XENT) jumped 15 percent, closing at $32.75. The implant is being regulated as a drug, marking Intersect's first full-fledge foray into the pharma industry.