Shares of St. Jude Medical, Inc. (NYSE:STJ) ended Friday session in green amid volatile trading. The shares closed up +0.51 points or 0.65% at $78.65 with 1.89 million shares getting traded. Post opening the session at $78.40, the shares hit an intraday low of $78.26 and an intraday high of $78.74 and the price vacillated in this range throughout the day. The company has a market cap of $22.47 billion and the numbers of outstanding shares have been calculated to be 284.93 million shares.
St. Jude Medical, Inc. (STJ) on September 1, 2016 announced the start of the St. Jude Medical AMPLATZER™ Amulet™ IDE trial, which will evaluate the safety and effectiveness of the company’s AMPLATZER™ Amulet™ Left Atrial Appendage Occluder used to close the left atrial appendage (LAA) in patients diagnosed with non-valvular atrial fibrillation (AF). The first implant of the study took place at North Mississippi Medical Center in Tupelo, Mississippi by Dr. Jim Stone.
In most people, the LAA — a small appendage connected to the left atrium — does not increase the risk of adverse health effects, but in some patients with atrial fibrillation, the LAA does not contract effectively and it can become a source of blood clots. These clots can then be released into the heart and enter the bloodstream, where they can travel to the brain and cause a stroke. Currently, patients with AF at risk of stroke are often prescribed blood-thinning medication, but this treatment approach comes with a lifetime of medical management and the risk of major bleeding. By closing the LAA with the AMPLATZER Amulet occluder, physicians can “seal off” the LAA and potentially reduce the risk of stroke.
The AMPLATZER Amulet occluder works by blocking the LAA at its opening, which minimizes the opportunity for blood clots to form in the LAA and migrate into the bloodstream. The AMPLATZER Amulet occluder, the second-generation St. Jude Medical LAA occlusion device, is built with a longer lobe and waist than the previous version and designed to allow for easier and more stable placement, which could result in shorter procedure times for patients. The AMPLATZER Amulet device is also offered in eight sizes to accommodate varying anatomies.
“There’s a real need within the United States medical community for a left atrial appendage occluder that addresses a wider range of complex patient anatomies,” said Dr. Dhanunjaya Lakkireddy, Professor of Medicine and the Director of the Center for Excellence in Atrial Fibrillation and Complex Arrhythmias at the University of Kansas. “The Amulet device has been used successfully in Europe, and I see this IDE trial as the right step toward providing patients with atrial fibrillation the optimal level of care to further reduce the risk of stroke.”
Shares of StemCells Inc (NASDAQ:STEM) ended Friday session at $1.54 with 597,969.00 shares getting traded. Post opening the session at $1.54, the shares hit an intraday low of $1.50 and an intraday high of $1.57 and the price vacillated in this range throughout the day. The company has a market cap of $17.91 million and the numbers of outstanding shares have been calculated to be 12.01 million shares.
On Aug. 16, 2016 StemCells Inc (STEM) and Microbot Medical Ltd., a private company organized under the laws of the State of Israel (“Microbot”), announced that they have entered into a definitive merger agreement, with plans to pursue the development of robotics based medical devices for the treatment of cerebrospinal fluid and gastrointestinal disorders, as well as other conditions.
“This transaction concludes an extensive search for strategic alternatives conducted by StemCells since we failed to see robust clinical results in our Phase II clinical study of human neural stem cells in chronic spinal cord injury,” said Ian Massey, the CEO of StemCells, Inc. “We believe both our investors and the market at large will see the potential of Microbot’s robotics platform, specifically its catheter and shunt technologies, and will appreciate Microbot’s overall business opportunities and potential.”
Harel Gadot, the CEO & Chairman of Microbot added, “We are pleased that this transaction will give us a presence in the U.S. capital markets, and we are very excited to continue advancing the development of our proprietary technologies that we believe have the potential to improve the lives of many patients globally. We thank StemCells for its efforts and contributions to improving human health over the years.”