Shares of Great Basin Scientific Inc (NASDAQ:GBSN) ended Thursday session in green amid volatile trading. The shares closed up +5.62 points or 4,861.94% at $5.74 with 58.80 million shares getting traded. Post opening the session at $0.11, the shares hit an intraday low of $0.06 and an intraday high of $0.11 and the price vacillated in this range throughout the day. The company has a market cap of $408.33 million and the numbers of outstanding shares have been calculated to be 59.77 million shares.
Great Basin Scientific Inc (GBSN) on September 15, 2016 announced that a 1-for-80 reverse split of its common stock will be effective at 12:01 am EDT on September 16, 2016. The Company’s common stock will open for trading on the Nasdaq Capital Market on September 16, 2016 on a post-split basis. At the effective time of the reverse stock split, every 80 shares of the Company’s issued and outstanding common stock, par value $0.0001, will be consolidated into one newly-issued and outstanding share of common stock, par value of $0.0001.
Shares of Pfizer Inc. (NYSE:PFE) ended Thursday session in green amid volatile trading. The shares closed up +0.20 points or 0.59% at $34.14 with 20.85 million shares getting traded. Post opening the session at $33.89, the shares hit an intraday low of $33.55 and an intraday high of $34.33 and the price vacillated in this range throughout the day. The company has a market cap of $203.44 billion and the numbers of outstanding shares have been calculated to be 6.07 billion shares.
On September 15, 2016 Merck (MRK), known as MSD outside the United States and Canada, in partnership with Pfizer Inc. (PFE) announced that a Phase 3 study (VERTIS SITA2) of ertugliflozin, an investigational oral SGLT2 inhibitor for the treatment of patients with type 2 diabetes, met its primary endpoint. Both 5 mg and 15 mg daily doses of ertugliflozin showed significantly greater reductions in A1C* of 0.69 percent and 0.76 percent, respectively, compared with placebo (p<0.001, for both comparisons), when added to patients on a background of sitagliptin (100 mg/day) and stable metformin (≥1500 mg/day). These study results were presented for the first time during an oral session at the 52nd Annual Meeting of the European Association for the Study of Diabetes (EASD) in Munich, Germany.
Merck and Pfizer plan to submit New Drug Applications to the U.S. Food and Drug Administration for ertugliflozin and two fixed-dose combinations (ertugliflozin plus JANUVIA® (sitagliptin) and ertugliflozin plus metformin) by the end of 2016, with additional regulatory submissions outside of the U.S. to follow in 2017.
“It is encouraging to see further data from the VERTIS clinical development program in support of combining ertugliflozin, an SGLT2 inhibitor, with the DPP-4 inhibitor sitagliptin, which was first approved 10 years ago,” said Peter Stein, M.D., vice president, late stage development, diabetes and endocrinology, Merck.