Shares of Community Health Systems (NYSE:CYH) ended Friday session in green amid volatile trading. The shares closed up +0.15 points or 1.47% at $10.35 with 3.22 million shares getting traded. Post opening the session at $10.20, the shares hit an intraday low of $10.17 and an intraday high of $10.72 and the price vacillated in this range throughout the day. The company has a market cap of $1.20 billion and the numbers of outstanding shares have been calculated to be 113.64 million shares.
Community Health Systems (CYH) on September 19, 2016 announced that the Company, with the assistance of advisors, is exploring a variety of options with financial sponsors, as well as other potential alternatives.
The discussions are at a very preliminary stage and there is no timeline established for this review. There can be no certainty that the exploration will result in any kind of transaction. The Company does not expect to make further public comment regarding these matters while the exploration process takes place.
“Community Health Systems’ primary focus continues to be on delivering high-quality health services in the communities where we operate,” said Wayne T. Smith, chairman and chief executive officer of Community Health Systems, Inc. “Our management team is completely committed to efforts that advance clinical excellence, operational and financial performance and growth strategies that will benefit our organization and the customers we serve.”
Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) ended Friday session in green amid volatile trading. The shares closed up +0.24 points or 0.47% at $51.47 with 3.13 million shares getting traded. Post opening the session at $51.01, the shares hit an intraday low of $50.85 and an intraday high of $51.51 and the price vacillated in this range throughout the day. The company has a market cap of $52.65 billion and the numbers of outstanding shares have been calculated to be 1.01 billion shares.
Teva Pharmaceutical Industries Ltd (ADR) (TEVA) on September 22, 2016 announced SD-809 (deutetrabenazine) showed statistically significant results in the second Phase III registration trial studying the potential of SD-809 for the treatment of tardive dyskinesia (TD). These new results for the AIM-TD trial follow positive results from the ARM-TD trial announced in June 2015. Both ARM-TD and AIM-TD were 12 week treatment studies. The U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation for SD-809 for the treatment of TD in November 2015. Teva expects to make a regulatory submission to the FDA by the end of 2016.
“We are delighted to deliver positive results from a second Phase III study showing the potential for SD-809 to treat the involuntary movements of tardive dyskinesia. This condition is debilitating and often leads to isolation of those affected,” said Michael Hayden, M.D., Ph.D., President of Global R&D and Chief Scientific Officer at Teva, adding that “The study results strengthen our resolve to making this product an option for those patients in need. We are grateful to the trial participants and study investigators who contributed to this study.”