Shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) ended Tuesday session in red amid volatile trading. The shares closed down -0.24 points or -8.89% at $2.46 with 747,756.00 shares getting traded. Post opening the session at $2.66, the shares hit an intraday low of $2.38 and an intraday high of $2.76 and the price vacillated in this range throughout the day. The company has a market cap of $47.84 million and the numbers of outstanding shares have been calculated to be 20.17 million shares.
Eleven Biotherapeutics, Inc. (EBIO) and Viventia Bio Inc., announced that the two companies and the shareholders of Viventia entered into a definitive share purchase agreement under which Eleven Biotherapeutics agreed to, and simultaneously completed, the acquisition of Viventia. Under the agreement, Eleven purchased all of the outstanding capital stock of Viventia in exchange for the issuance of 4,013,431 newly issued shares of Eleven common stock, which represented approximately 19.9% of the voting power of Eleven as of immediately prior to the issuance of such shares, and the agreement by Eleven to pay to the selling shareholders certain post-closing contingent cash payments upon the achievement of specified milestones and based upon net sales related to Viventia’s lead product candidate, Vicinium.
The acquisition creates a NASDAQ-listed company focused on the development of novel therapies based upon antibody fragments genetically fused to cytotoxic proteins, or targeted protein therapeutics (TPTs), as new treatments in areas of oncology with significant unmet need. The combined company will continue to be named Eleven Biotherapeutics, and Stephen Hurly, formerly Viventia’s chief executive officer, was appointed President and Chief Executive Officer of Eleven in connection with the acquisition. Abbie C. Celniker, Eleven’s former President and Chief Executive Officer, will remain a director of Eleven Biotherapeutics.
Shares of EXACT Sciences Corporation (NASDAQ:EXAS) ended Tuesday session in red amid volatile trading. The shares closed down -0.04 points or -0.21% at $18.81 with 2.42 million shares getting traded. Post opening the session at $19.17, the shares hit an intraday low of $18.65 and an intraday high of $19.78 and the price vacillated in this range throughout the day. The company has a market cap of $2.04 billion and the numbers of outstanding shares have been calculated to be 106.77 million shares.
EXACT Sciences Corporation (EXAS) announced that Cologuard® is now included in the 2017 Healthcare Effectiveness Data and Information Set (HEDIS) quality measures for colorectal cancer screening. The new quality measures were published by the National Committee for Quality Assurance (NCQA). More than 90 percent of America’s health plans measure quality based on HEDIS.
“Cologuard’s inclusion in the preeminent quality measures and its standing as an A-graded service in a leading screening guideline are critical steps toward becoming a standard of care for colon cancer screening,” said Kevin Conroy, chairman and CEO of Exact Sciences. “Quality measures rate health care providers, systems and payers on metrics, including colon cancer screening compliance and patient satisfaction. These quality scores influence the level of reimbursement providers receive under value-based health care structures. Providers can now receive quality credit when their patients are screened using Cologuard, and Exact Sciences’ comprehensive compliance program encourages completion of screening following a physician’s prescription.”