A Medical Device Daily

Advanced Medical Optics (AMO; Santa Ana, California), a developer of ophthalmic surgical devices and eye care products, reported that Jim Mazzo, its president/CEO and chairman, has amended his stock trading plan, which was implemented in 2005 under AMO’s stock trading program.

The program permits participating company executives and board members to adopt pre-arranged plans to buy or sell pre-determined amounts of AMO stock over time in compliance with the company’s insider trading policies and stock ownership guidelines.

Mazzo’s plan was set up to allow him to acquire shares pursuant to stock options that were nearing expiration and provided that he would sell only the number of shares required to cover the option exercise price and taxes associated with the stock transactions.

The amended plan provides that Mazzo also will sell the number of shares required to repay his existing relocation loan to AMO, while retaining all remaining shares, prior to the July 2007 payment date of the loan.

• Implant Sciences (Wakefield, Massachusetts), a developer of products for national security, semiconductor and medical industries, reported what it called its “understanding” that CorNova (Burlington, Massachusetts), a privately held company focused on the development and marketing of endovascular diagnostics and treatments, has sold about 75,000 shares of Implant’s common stock over the past two days through its broker.

In March 2004 and February 2005, CorNova acquired about 87,000 shares, in the aggregate, of Implant’s common stock in connection with the capitalization of CorNova in March 2004 and the successful completion of a financing by CorNova in February 2005. Implant said it understands that the liquidation of Implant’s common stock by CorNova is to provide funding for CorNova’s working capital.

While CorNova continues to hold about 12,000 shares of Implant’s common stock, Implant said it believes the disposition of those remaining shares is “imminent.”

“It is our understanding that CorNova’s decision to sell Implant Sciences’ stock was based on their own financial needs and is not a reflection on Implant’s current or future operations,” said Anthony Armini, PhD, CEO of Implant Sciences.