Shares of Immune Pharmaceuticals Inc (NASDAQ:IMNP) ended Thursday session in green amid volatile trading. The shares closed up +0.008 points or 2.96% at $0.278 with 3.74 million shares getting traded. Post opening the session at $0.26, the shares hit an intraday low of $0.25 and an intraday high of $0.28 and the price vacillated in this range throughout the day. The company has a market cap of $26.29 million and the numbers of outstanding shares have been calculated to be 101.58 million shares.
Immune Pharmaceuticals Inc (IMNP) on Sept. 16, 2016 announced that the Board of Directors has approved to designate Maxim Pharmaceuticals Inc. (“Maxim”), one of the Company’s existing subsidiaries, as the dedicated entity to develop and commercialize, and hold the intellectual property related to, AmiKet® and other related pain and neurology assets. In addition, the Company has entered into a binding agreement with NPT (the “Binding Agreement”), a syndicate of experienced healthcare investors, pursuant to which NPT or its designees have agreed to purchase up to $20 million of the capital stock of Maxim, with an initial funding of $5 million to occur within thirty days. Previously, the Company entered into an option agreement with NPT, dated May 15, 2016, as amended on July 18, 2016. Pursuant to the Binding Agreement, immediately following the $5 million initial funding by NPT, Immune will expand the Board of Directors of Maxim, to five members which will include one NPT representative, and a newly hired Chief Executive Officer of Maxim.
Shares of Envision Healthcare Holdings Inc (NYSE:EVHC) ended Thursday session in green amid volatile trading. The shares closed up +0.54 points or 2.55% at $21.70 with 3.32 million shares getting traded. Post opening the session at $21.30, the shares hit an intraday low of $21.19 and an intraday high of $21.95 and the price vacillated in this range throughout the day. The company has a market cap of $4.15 billion and the numbers of outstanding shares have been calculated to be 187.17 million shares.
On September 8, 2016 Envision Healthcare Holdings, Inc. (EVHC) and AMSURG Corp. (AMSG) announced that they have received notice that the Antitrust Division of the State of Florida Attorney General’s office has closed its inquiry into the proposed merger between Envision and AMSURG and is taking no action.
The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the U.S. Federal Trade Commission review of the pending merger expired last week, satisfying one of the conditions to the closing of the merger. The transaction remains subject to other customary closing conditions, including the approval by shareholders of both Envision and AMSURG.