Shares of StemCells Inc (NASDAQ:STEM) ended Monday session in green amid volatile trading. The shares closed up +0.03 points or 2.26% at $1.36 with 355,036.00 shares getting traded. Post opening the session at $1.33, the shares hit an intraday low of $1.32 and an intraday high of $1.39 and the price vacillated in this range throughout the day. The company has a market cap of $15.51 million and the numbers of outstanding shares have been calculated to be 12.01 million shares.
On Aug. 16, 2016 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.”
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 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) ended Monday session in green amid volatile trading. The shares closed up +4.18 points or 4.46% at $97.86 with 1.12 million shares getting traded. Post opening the session at $93.41, the shares hit an intraday low of $93.10 and an intraday high of $98.05 and the price vacillated in this range throughout the day. The company has a market cap of $23.34 billion and the numbers of outstanding shares have been calculated to be 247.78 million shares.
Vertex Pharmaceuticals Incorporated (VRTX) announced that management will present at The Morgan Stanley Global Healthcare Conference in New York, NY on Wednesday, September 14th at 11:40 a.m. ET. Vertex will also present at The Leerink Partners Roundtable Series in New York, NY on Wednesday, September 28th at 3:40 p.m. ET.
Management’s remarks will be accessible live through Vertex’s website at www.vrtx.com in the “Investors” section under the “Events and Presentations” page. A replay of the conference webcast will be archived on the company’s website.