HC Stocks News Ring- StemCells Inc (NASDAQ:STEM), Idera Pharmaceuticals Inc (IDRA)
Shares of StemCells Inc (NASDAQ:STEM) ended Tuesday session in red amid volatile trading. The shares closed down -0.02 points or -1.89% at $1.04 with 468,279 shares getting traded. Post opening the session at $1.06, the shares hit an intraday low of $1.00 and an intraday high of $1.08 and the price vacillated in this range throughout the day. The company has a market cap of $12.61 million and the numbers of outstanding shares have been calculated to be 12.01 million shares.
StemCells Inc (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.”
Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) ended Tuesday session in red amid volatile trading. The shares closed down -0.14 points or -7.18% at $1.81 with 1.85 million shares getting traded. Post opening the session at $1.89, the shares hit an intraday low of $1.81 and an intraday high of $1.95 and the price vacillated in this range throughout the day. The company has a market cap of $214.20 million and the numbers of outstanding shares have been calculated to be 146.34 million shares.
Idera Pharmaceuticals Inc (IDRA), a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for oncology and rare diseases in the United States. It uses two proprietary drug discovery technology platforms to design and develop drug candidates, including toll-like receptor targeting technology and third-generation antisense (3GA) technology. The companys lead drug candidate is IMO-8400, which is in Phase I/II clinical trials for the treatment of Waldenströms Macroglobulinemia and diffuse large B-cell lymphoma, as well as in Phase II clinical trial for the treatment of dermatomyositis. Its drug candidates also comprise IMO-9200, a drug candidate in Phase I clinical trial for use in selected autoimmune disease indications; and IMO-2055/IMO-2125 that are in Phase I/II clinical trials for applications as immune therapies for the treatment of cancer.