Shares of Zoetis Inc (NYSE:ZTS) ended Monday session in green amid volatile trading. The shares closed up +0.76 points or 1.51% at $51.15 with 5.68 million shares getting traded. Post opening the session at $50.19, the shares hit an intraday low of $50.07 and an intraday high of $51.34 and the price vacillated in this range throughout the day. The company has a market cap of $24.82 billion and the numbers of outstanding shares have been calculated to be 495.39 million shares.
Zoetis Inc (ZTS) on August 22, 2016 announced that Glenn David, Senior Vice President of Finance Operations, has been named Executive Vice President and Chief Financial Officer (CFO), and will assume responsibility for the oversight of the company’s financial management, planning and global operations, effective immediately. As CFO, David will report directly to Chief Executive Officer Juan Ramón Alaix and become part of the Zoetis Executive Team. David will succeed Executive Vice President and Chief Financial Officer Paul Herendeen, who has resigned effective August 18, 2016, to accept the position of CFO at another public company.
“Glenn has been an accomplished financial and strategic leader for Zoetis and a trusted partner to me and the entire executive team since our IPO,” said Chief Executive Officer Juan Ramón Alaix. “Glenn’s strong financial acumen, deep understanding of our company’s business operations and ability to partner with our business leaders to improve overall company performance, make him the clear successor for this important position. With this natural transition of executive responsibility to such a high caliber executive, the Board and I are confident we have ensured continued focus on delivering shareholder value.”
“We thank Paul for his contributions to our company over the past two years. Paul leaves Zoetis a stronger company, better positioned with investors and set to deliver long-term, sustainable shareholder value,” said Alaix.
Shares of Celgene Corporation (NASDAQ:CELG) ended Monday session in green amid volatile trading. The shares closed up +2.38 points or 2.28% at $106.85 with 5.56 million shares getting traded. Post opening the session at $104.49, the shares hit an intraday low of $104.18 and an intraday high of $107.15 and the price vacillated in this range throughout the day. The company has a market cap of $80.37 billion and the numbers of outstanding shares have been calculated to be 775.11 million shares.
Celgene Corporation (CELG) on September 12, 2016 announced interim topline data from a randomized, double-blind, multicenter, exploratory phase 1b study evaluating the effects of oral GED-0301 (mongersen) on both endoscopic and clinical outcomes in patients with active Crohn’s disease.
The trial, CD-001, is an ongoing study evaluating three different treatment regimens of GED-0301 in a 12-week treatment phase, followed by an observation phase up to 52 weeks (off treatment). The primary objective of the study is to explore the effect of GED-0301 on endoscopic outcomes. The trial enrolled a total of 63 patients across multiple countries.
The study was designed to further enhance the understanding of GED-0301 activity in a difficult-to-treat, moderate-to-severe patient population. This population was more diverse than prior GED-0301 studies and included patients with endoscopically confirmed mucosal damage at entry and those who had previous surgeries. The study also included both biologic exposed and biologic naïve patients as well as patients with a diagnosis of Ileitis, Ileocolitis or colitis.
Topline data from CD-001 show that in a proportion of patients treated with oral GED-0301 there was endoscopic improvement (defined as a 25 percent improvement from baseline) and clinical response and remission across all treatment groups at week 12. Findings to date reveal no new safety signals and tolerability is consistent with earlier studies.
“Given the high unmet need in Crohn’s disease, we are pleased that oral GED-0301 showed both endoscopic improvements and clinically meaningful responses and remission at an early timepoint in this study,” said Scott Smith, President of Celgene Inflammation and Immunology. “These data are particularly encouraging for several reasons, including the difficult-to-treat patient population evaluated in the trial.”