Thu, Nov. 10, 7:10 AM
Mon, Aug. 15, 8:58 AM
- Penny stock EnteroMedics (NASDAQ:ETRM) is up 12% premarket on increased volume in response to its announcement that 24-month data from its Phase 3 ReCharge clinical trial has been published in the journal Obesity Surgery. The study assessed the efficacy of its Maestro Rechargeable System in reducing weight in obese patients. The FDA approved it in January 2015 for weight loss treatment in adult patients who have been unable to lose weight with a weight loss program and who have a body mass index (BMI) of 35 to 45 with at least one other obesity-related co-morbidity (hypertension, type 2 diabetes, high cholesterol).
- In 123 subjects who presented in their 24-month visit, the mean excess weight loss was 21% and the mean percent total weight loss (TWL) was 8%. In patients treated with sham control who had not yet crossed over to Maestro, the values were 4% and 1%, respectively. For comparison purposes, published studies on bariatric procedures (i.e., gastric banding) showed 6% TWL at the same time point. Maestro patients also reported improvements in quality-of-life measures and reductions in hunger.
- Maestro, a pacemaker-like device, delivers VBLOC vagal nerve blocking therapy via electrodes that are surgically implanted subcutaneously in the abdomen. The electrodes are placed in contact with the trunks of the vagus nerves just above the junction between the esophagus and the stomach. The device intermittently blocks vagal nerve signals throughout the patient's waking hours.
- Previously: FDA clears new obesity device (Jan. 14, 2015)
Thu, Aug. 4, 7:27 AM
Fri, Jun. 10, 7:28 AM
- Sarepta Therapeutics (NASDAQ:SRPT) upgraded to Outperform from Neutral by Wedbush. Price target raised to $36 (71% upside) from $14.
- EnteroMedics (NASDAQ:ETRM) downgraded to Neutral from Buy by Roth Capital Partners. Price target is $0.50 (11% upside).
- Relypsa (NASDAQ:RLYP) downgraded to Underweight from Equal Weight by Morgan Stanley. Price target maintained at $9 (52% downside risk).
- Mirati Therapeutics (NASDAQ:MRTX) downgraded to Hold from Buy by Jefferies. Price target lowered to $17 (77% upside) from $27.
- AbbVie (NYSE:ABBV) downgraded to Market Perform from Outperform by Cowen & Company. Price target lowered to $70 (15% upside) from $77. Downgraded to Equal Weight from Overweight by Morgan Stanley. Price target lowered to $65 (7% upside) from $73.
- WebMD (NASDAQ:WBMD) downgraded to Market Perform from Outperform by William Blair.
Thu, May 5, 5:46 PM
- EnteroMedics (NASDAQ:ETRM): Q1 EPS of -$0.82 misses by $0.02.
- Revenue of $0.07M misses by $0.08M.
Wed, Feb. 17, 12:45 PM
Wed, Feb. 17, 7:58 AM
- EnteroMedics (ETRM) Q4 results: Revenues: $149K; R&D Expense: $1.7M (-43.3%); SG&A: $5.9M (+90.3%); Operating Loss: ($7.6M) (-24.6%); Net Loss: ($6.8M) (-9.7%); Loss Per Share: ($0.95) (+29.1%).
- FY2015 results: Revenues: $292K; R&D Expense: $8.1M (-26.4%); SG&A: $19.9M (+36.3%); Operating Loss: ($27.9M) (-9.0%); Net Loss: ($25.5M) (+2.3%); Loss Per Share: ($4.27) (+26.1%); Quick Assets: $7.9M (-31.9%).
- No guidance given.
Wed, Feb. 17, 7:04 AM
- EnteroMedics (NASDAQ:ETRM): Q4 EPS of -$0.95 misses by $0.05.
- Revenue of $0.15M misses by $0.28M.
Dec. 23, 2015, 8:35 AM
- EnteroMedics (NASDAQ:ETRM) shareholders approve three proposals, including a 1:15 reverse split of common shares effective January 7.
- Shareholders also OK an increase in the number of authorized shares issuable after the reverse split and the issuance of common stock underlying convertible notes and warrants issued by the company pursuant to its November 4, 2015 securities purchase agreement with five institutional investors. Under the terms of the deal, EnteroMedics will issue $23.5M in notes and warrants after the reverse split.
- Net proceeds will fund commercialization activities for the vBloc neurometabolic therapy, clinical and product development, working capital and general corporate purposes.
Nov. 9, 2015, 5:28 PM
- EnteroMedics (NASDAQ:ETRM): Q3 EPS of -$0.04 beats by $0.04.
- Revenue of $0.07M misses by $0.15M.
Aug. 6, 2015, 7:06 AM
- EnteroMedics (NASDAQ:ETRM): Q2 EPS of -$0.10 in-line.
Jul. 7, 2015, 5:18 PM
- EnteroMedics (NASDAQ:ETRM) prices its downsized public offering of 32M units at $0.50 per unit. Each unit consists of one share of common stock and one Series A warrant to purchase one share of common stock at $0.60 per share.
- The original offer, announced on June 30, was ~40.2M units at $0.87 per unit.
- Previously: EnteroMedics prices equity offering; shares off 12% premarket (June 30)
Jun. 30, 2015, 9:13 AM
- Thinly traded nano cap EnteroMedics (NASDAQ:ETRM) eases 12% premarket in response to the company's public offering 40,229,886 units at $0.87 per unit. Each unit consists of one share of common stock, 0.50 of a Series A warrant to purchase one share of common stock at $1.00 and 0.50 of a Series B warrant to purchase one share of common stock at $1.09. Closing date is July 6.
- Net proceeds will fund commercialization activities, R&D, working capital and general corporate purposes.
May 28, 2015, 12:47 PM
May 20, 2015, 9:14 AM
Apr. 30, 2015, 7:49 AM
- EnteroMedics (NASDAQ:ETRM): Q1 EPS of -$0.10 misses by $0.01.