EnteroMedics Inc.– Nasdaq: ETRM
Enteromedics Inc has had four continuous days of gains. Traded on the Nasdaq under ticker ETRM, the biotech stock had a reverse split in late December. What is newsworthy of late is the massive relative volumes that have been associated with the stock. Below is our original report from January 6, 2017.
Shares of MN-based EnteroMedics Inc. are up over 80% in pre-market trading on heavy volume. Shares are traded on the Nasdaq under the ticker symbol ETRM. ETRM closed at $2.09 on Wednesday, $3.97 on Thursday, and have traded as high as $7.62.
EnteroMedics® Inc. develops therapies for obesity. It has developed vBloc® vagal blocking therapy, a patented therapeutic approach to treat a range of gastrointestinal and metabolic diseases. vBloc® is a weight loss treatment that addresses the growing global health crises associated with obesity and its co-morbidities, such as diabetes and hypertension.
vBloc® Therapy, delivered by a pacemaker-like device called the Maestro® Rechargeable System, controls both hunger and fullness by blocking the primary nerve which regulates the digestive system. The Maestro Rechargeable System has received Food and Drug Administration (FDA) approval as well as CE Mark in Europe, and has been listed on the Australian Register of Therapeutic Goods (ARTG) by the Therapeutic Goods Administration (TGA) for supply in Australia.
Price action seems to be motivated by news that MedStar Health in Maryland and Roper St. Francis in South Carolina, both vBloc institutes, have implanted vBloc Neurometabolic therapies.
EnteroMedics Inc. has no reported sales. Only one firm follows ETRM and rates it as a “Strong Buy”.
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