Shares of EnteroMedics Inc (NASDAQ:ETRM) ended Thursday session at $0.138 with 8.96 million shares getting traded. Post opening the session at $0.15, the shares hit an intraday low of $0.14 and an intraday high of $0.15 and the price vacillated in this range throughout the day. The company has a market cap of $4.62 million and the numbers of outstanding shares have been calculated to be 69.70 million shares.
EnteroMedics Inc (ETRM) on Sept. 19, 2016 announced that the European Patent Office has issued a Notice of Intention to Grant a European Patent covering safety features of the Company’s vBloc® Neurometabolic Therapy System. The intention to grant the European patent follows the granting of U.S. patent No. 9,393,420 on July 19, 2016, which covers safety features for an implantable neuroregulator with a rechargeable battery. EnteroMedics has been granted three U.S. patents to date in 2016. The Company holds more than 70 patents on its technology worldwide.
“Receipt of the Notice of Intention to Grant a European Patent underscores the strength and robust nature of our intellectual property portfolio, and reaffirms EnteroMedics’ dominant presence within the neuromodulation device industry in the areas of obesity and gastrointestinal disorders,” said Dan Gladney, President and CEO, EnteroMedics Inc. “As we continue to commercialize and seek broad reimbursement coverage for vBloc Therapy in the United States of America, we look forward to the opportunity to offer our technology in international markets.”
Shares of AbbVie Inc (NYSE:ABBV) ended Thursday session in green amid volatile trading. The shares closed up +0.37 points or 0.59% at $63.28 with 4.83 million shares getting traded. Post opening the session at $63.36, the shares hit an intraday low of $62.76 and an intraday high of $63.55 and the price vacillated in this range throughout the day. The company has a market cap of $102.47 billion and the numbers of outstanding shares have been calculated to be 1.63 billion shares.
On Sept. 20, 2016 Karolinska Development AB (Nasdaq Stockholm: KDEV) announced that its portfolio company BioArctic AB has entered into a strategically important collaboration with AbbVie (ABBV), a global biopharmaceutical company, to develop and commercialize BioArctic’s portfolio of antibodies directed against alpha-synuclein for the treatment of Parkinson’s disease and other potential indications.
Parkinson’s disease is the second most-common neurological disease, affecting more than 10 million people worldwide. Mutations in alpha-synuclein are strongly linked to development of Parkinson’s disease. Soluble aggregates of the alpha-synuclein protein are toxic to neurons and lead to the deposits that are a hallmark of the disease.
“AbbVie has shown a strong commitment to Parkinson’s disease and I am proud that they have chosen to collaborate with BioArctic. I am looking forward to a successful partnership that hopefully will result in a new innovative disease modifying treatment becoming available to the large number of patients suffering from Parkinson’s disease,” said Gunilla Osswald, CEO at BioArctic.