Shares of StemCells Inc (NASDAQ:STEM) ended Wednesday session in red amid volatile trading. The shares closed down -0.05 points or -3.71% at $1.22 with 779,516.00 shares getting traded. Post opening the session at $1.25, the shares hit an intraday low of $1.19 and an intraday high of $1.25 and the price vacillated in this range throughout the day. The company has a market cap of $14.39 million and the numbers of outstanding shares have been calculated to be 12.01 million shares.
StemCells Inc (NASDAQ:STEM) and Microbot Medical Ltd., a private company organized under the laws of the State of Israel (“Microbot”), announced that they have entered into a definitive merger agreement, with plans to pursue the development of robotics based medical devices for the treatment of cerebrospinal fluid and gastrointestinal disorders, as well as other conditions.
“This transaction concludes an extensive search for strategic alternatives conducted by StemCells since we failed to see robust clinical results in our Phase II clinical study of human neural stem cells in chronic spinal cord injury,” said Ian Massey, the CEO of StemCells, Inc. “We believe both our investors and the market at large will see the potential of Microbot’s robotics platform, specifically its catheter and shunt technologies, and will appreciate Microbot’s overall business opportunities and potential.”
Harel Gadot, the CEO & Chairman of Microbot added, “We are pleased that this transaction will give us a presence in the U.S. capital markets, and we are very excited to continue advancing the development of our proprietary technologies that we believe have the potential to improve the lives of many patients globally. We thank StemCells for its efforts and contributions to improving human health over the years.”
Shares of Genworth Financial Inc (NYSE:GNW) ended Wednesday session in green amid volatile trading. The shares closed up +0.07 points or 1.38% at $5.14 with 8.31 million shares getting traded. Post opening the session at $4.98, the shares hit an intraday low of $4.97 and an intraday high of $5.22 and the price vacillated in this range throughout the day. The company has a market cap of $2.61 billion and the numbers of outstanding shares have been calculated to be 498.34 million shares.
Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. (GNW), announced an expansion of its Homebuyer Privileges® program to include discounts for nearly 300,000 retailers nationwide, including Target, Costco, Sears Commercial and ADT, among others.
The enhanced program, unique to the industry, allows homebuyers to save up to $7,500 through a variety of retailer coupons. Loan Officers can extend these savings to homebuyers regardless of whether or not their loan includes private mortgage insurance from Genworth Mortgage Insurance. Homebuyers have up to 12 months to enroll in the program, and up to 12 months after enrolling to utilize the discounts.
“Our research shows that down payments are still the biggest obstacle to homeownership for many consumers,” said Rohit Gupta, President and Chief Executive Officer, Genworth Mortgage Insurance. “By expanding our Homebuyer Privileges program, our customers can offer even more savings that might allow prospective homebuyers to better control their costs and achieve their homeownership dreams sooner.”