Shares of Endo International plc – Ordinary Shares (NASDAQ:ENDP) ended Friday session in green amid volatile trading. The shares closed up +0.16 points or 0.77% at $20.85 with 6.17 million shares getting traded. Post opening the session at $20.69, the shares hit an intraday low of $20.17 and an intraday high of $20.96 and the price vacillated in this range throughout the day. The company has a market cap of $4.64 billion and the numbers of outstanding shares have been calculated to be 222.77 million shares.
Endo International plc – Ordinary Shares (ENDP) on Aug. 8, 2016 reported second quarter 2016 financial results, including:
- Revenues of $921 million including the addition of sales from its 2015 acquisition of Par Pharmaceutical, a 25 percent increase compared to second quarter 2015 revenues of $735 million .
- Reported net income from continuing operations of $390 million compared to second quarter 2015 reported net loss from continuing operations of $(91) million .
- Reported diluted EPS from continuing operations of $1.75 compared to second quarter 2015 reported diluted loss per share from continuing operations of $(0.49) .
- Adjusted net income from continuing operations of $192 million , a 6 percent decrease compared to second quarter 2015 adjusted net income from continuing operations of $204 million .
- Adjusted diluted EPS from continuing operations of $0.86 compared to second quarter 2015 adjusted diluted EPS from continuing operations of $1.08 .
“During the second quarter 2016, Endo remained focused on operational execution. We have delivered results across all of our businesses that are on-track or ahead of Company expectations for the quarter and we are affirming our full year 2016 revenue and adjusted diluted EPS financial guidance while increasing investment in Branded and Generics R&D as well as BELBUCA™ and XIAFLEX® promotion,” said Rajiv De Silva , President and CEO of Endo. “We also continue to build our internal team and are pleased to announce the appointment of Joseph J. Ciaffoni to President, U.S. Branded Pharmaceuticals. We look forward to continuing to execute on our corporate objectives and delivering products that improve patients’ lives while creating value for our shareholders.”
Shares of EnteroMedics Inc (NASDAQ:ETRM) ended Friday session in red amid volatile trading. The shares closed down -0.006 points or -4.64% at $0.115 with 6.11 million shares getting traded. Post opening the session at $0.12, the shares hit an intraday low of $0.11 and an intraday high of $0.12 and the price vacillated in this range throughout the day. The company has a market cap of $2.99 million and the numbers of outstanding shares have been calculated to be 27.29 million shares.
EnteroMedics Inc (ETRM) on Sept. 7, 2016 announced the appointment of Scott Youngstrom as Chief Financial Officer and Chief Compliance Officer, effective October 3, 2016. Scott will succeed Greg Lea, EnteroMedics’ current Chief Financial Officer and Chief Compliance Officer, who will be retiring from the Company effective October 3, 2016, as previously announced.
“It is a privilege to welcome Scott as Chief Financial Officer and Chief Compliance Officer at this very exciting juncture here at EnteroMedics,” said Dan Gladney, Chief Executive Officer of EnteroMedics. “He is a highly accomplished executive with a strong background in financial and operational leadership within the medical device industry. His experience will be invaluable as we continue forward with efforts to secure broad reimbursement coverage for the vBloc® Therapy system, which will help ensure that this highly effective, proven therapy is as widely available as possible to patients in need. On behalf of everyone at EnteroMedics, I would like to thank Mr. Lea for his years of dedication and tireless efforts in helping to bring vBloc to the market, and we wish him well in all of his future endeavors.”
Mr. Youngstrom brings to EnteroMedics over 25 years of strategic financial and operational experience in a variety of medical device companies, most recently having served as Chief Financial Officer and Vice President, Finance at Galil Medical, a leading developer of cryotherapy technology. Prior to Galil Medical, from 2009-2014, Mr. Youngstrom served as Vice President, Chief Operating Officer, and Chief Financial Officer at DGIMED Ortho, Inc, a developer of orthopedic medical devices. Mr. Youngstrom has previously served as Chief Financial Officer and Vice President, Finance with Anulex Technologies, Enpath Medical, Compex Technologies, Acist Medical Systems, and Cardiotronics. Mr. Youngstrom serves on the Board of Directors of InnoVision, Inc.
“vBloc Therapy has consistently set itself apart as a safe and effective treatment for patients with morbid obesity, with the potential to serve as a key component within the obesity treatment paradigm,” said Mr. Youngstrom. “I look forward to joining EnteroMedics at such an important time, and to helping the company realize its full potential and achieve the goal of maximizing shareholder value.”