EnteroMedics Inc (NASDAQ:ETRM) shares up by 4.69%


Dallas, Texas 07/30/2013 (Financialstrend) – Maestro® Rechargeable System’s vagal blocking therapy VBLOC® was submitted for the pre market approval to the Federal Drug Administrator (FDA) of the United States by EnteroMedics, the developer of the medical devices which are used for the treatment of obesity, gastrointestinal diseases and metabolic diseases. The company uses the neuroblocking technology for the development of the devices. The vagal blocking therapy VBLOC® uses a unique and a patient friendly approach for addressing the long term challenges involved in obesity.

The Maestro Rechargeable System had awarded the CE Mark as well as it is listed on the Register of Therapeutics Goods of Australia. EnteroMedics had announced that it will announce the second quarter results in a conference call by 31st July 2013.  The enrollment of the company and its implantation in randomized, multi center pivotal clinical trial was done for around 233 patients spreading across ten centers. The company had received the European CE Mark approval during 2011 for its Maestro rechargeable system. The company competes with Arena, Orexigen, Qnexa, Intrapace, EndoArt, Johnson & Johnson and GI Dynamics.

The share of EnteroMedics Inc (NASDAQ:ETRM) was bullish by 4.69% on Monday to close down for the day with $1.22 per share. The company had recorded the trading day low price of $1.18 and high price of $1.31 on Monday. For the last twelve months of trading, the low price of the stock is at $0.81 and high price of the stock is at $4.14 per share. Currently there are 55.62 million shares of the company outstanding in the market and 49% institutional ownership. The trading volume of the company on Monday was 1.04 million shares and the trading volume over the past 30 days of the company was 786,018.00 shares per day. The total market value of the company is 67.85 million.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.