Shares of StemCells Inc (NASDAQ:STEM) ended Monday session in red amid volatile trading. The shares closed down -0.01 points or -0.73% at $1.36 with 472,791.00 shares getting traded. Post opening the session at $1.40, the shares hit an intraday low of $1.34 and an intraday high of $1.41 and the price vacillated in this range throughout the day. The company has a market cap of $15.98 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.”
Shares of Johnson & Johnson (NYSE:JNJ) ended Monday session in green amid volatile trading. The shares closed up +0.96 points or 0.81% at $118.91 with 6.34 million shares getting traded. Post opening the session at $117.95, the shares hit an intraday low of $117.64 and an intraday high of $119.00 and the price vacillated in this range throughout the day. The company has a market cap of $326.12 billion and the numbers of outstanding shares have been calculated to be 2.74 billion shares.
Johnson & Johnson (JNJ) on Sept. 20, 2016 announced a new five-year commitment to help advance the United Nations Sustainable Development Goals to help improve the health and well-being of men, women and children around the world. Johnson & Johnson is dedicating its expertise and innovations to ignite global partnerships and catalyze efforts through a variety of new implementation plans, targets and metrics. The announcement comes along with an expanded commitment by Johnson & Johnson to further strengthen the resilience of refugee and displaced children and their families in Syria and its neighboring countries where the need is greatest.
“Johnson & Johnson is committed to creating greater access to quality health care across the globe,” said Johnson & Johnson Chairman and CEO Alex Gorsky. “Beyond developing medicines, equipment and vaccines, we’re in communities helping expectant mothers take better care of themselves and their babies during pregnancy. We’re training nurses and doctors to identify and treat diseases, and also funding medical research. We’re proud to take a leading role with the world community in this effort, which will go a long way toward creating a healthier society.”