Shares of EnteroMedics Inc (NASDAQ:ETRM) ended Monday session in green amid volatile trading. The shares closed up +0.023 points or 20.00% at $0.138 with 31.47 million shares getting traded. Post opening the session at $0.14, the shares hit an intraday low of $0.13 and an intraday high of $0.16 and the price vacillated in this range throughout the day. The company has a market cap of $3.59 million and the numbers of outstanding shares have been calculated to be 27.29 million shares.
EnteroMedics Inc (ETRM) on Sept. 19, 2016 announced that the European Patent Office has issued a Notice of Intention to Grant a European Patent covering safety features of the Company’s vBloc® Neurometabolic Therapy System. The intention to grant the European patent follows the granting of U.S. patent No. 9,393,420 on July 19, 2016, which covers safety features for an implantable neuroregulator with a rechargeable battery. EnteroMedics has been granted three U.S. patents to date in 2016. The Company holds more than 70 patents on its technology worldwide.
“Receipt of the Notice of Intention to Grant a European Patent underscores the strength and robust nature of our intellectual property portfolio, and reaffirms EnteroMedics’ dominant presence within the neuromodulation device industry in the areas of obesity and gastrointestinal disorders,” said Dan Gladney, President and CEO, EnteroMedics Inc. “As we continue to commercialize and seek broad reimbursement coverage for vBloc Therapy in the United States of America, we look forward to the opportunity to offer our technology in international markets.”
Shares of Pfizer Inc. (NYSE:PFE) ended Monday session in red amid volatile trading. The shares closed down -0.29 points or -0.85% at $33.65 with 17.54 million shares getting traded. Post opening the session at $33.99, the shares hit an intraday low of $33.59 and an intraday high of $34.03 and the price vacillated in this range throughout the day. The company has a market cap of $202.91 billion and the numbers of outstanding shares have been calculated to be 6.07 billion shares.
Pfizer Inc. (PFE) on September 16, 2016 announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending that IBRANCE® (palbociclib) be granted marketing authorization in the European Union (EU) for the treatment of women with hormone receptor-positive, human epidermal growth factor receptor 2-negative (HR+/HER2-) locally advanced or metastatic breast cancer. The CHMP’s positive opinion is for IBRANCE to be used in combination with an aromatase inhibitor, as well as in combination with fulvestrant in women who have received prior endocrine therapy. The CHMP’s opinion will now be reviewed by the European Commission (EC).
If approved, IBRANCE would be the first medicine in a new class of anti-cancer treatments, cyclin-dependent kinase 4/6 (CDK 4/6) inhibitors, to be approved by the EC.
“Recent opinion by the CHMP to recommend marketing authorization of IBRANCE in the EU is an important step toward expanding treatment options for women in Europe with HR+/HER2- metastatic breast cancer, and a step toward a potential new standard of care for this cancer,” said Mace Rothenberg, M.D., chief development officer, Pfizer Oncology. “The opinion is supported by robust data with consistent results observed across three separate randomized trials in which the addition of IBRANCE to standard endocrine therapy resulted in significant prolongation of progression-free survival compared to endocrine therapy alone.”