Shares of Abbott Laboratories (NYSE:ABT) ended Thursday session at $40.98 with 6.54 million shares getting traded. Post opening the session at $40.74, the shares hit an intraday low of $40.41 and an intraday high of $41.24 and the price vacillated in this range throughout the day. The company has a market cap of $59.98 billion and the numbers of outstanding shares have been calculated to be 1.47 billion shares.
Abbott Laboratories (ABT) announced that the U.S. Food and Drug Administration (FDA) has approved the company’s FreeStyle Libre Pro system, a revolutionary continuous glucose monitoring (CGM) system for healthcare professionals to use with their patients with diabetes.
FreeStyle Libre Pro system is designed to empower healthcare professionals to provide better diabetes management for diabetes patients. The system provides healthcare professionals with a visual snapshot of glucose data, known as the Ambulatory Glucose Profile (AGP), giving a more simplified and clear overview of not only glucose levels, but also patterns and trends within those levels. This valuable information helps healthcare professionals make better, customized treatment decisions for their patients – and for a significantly lower cost than other professional CGM products available.
Shares of Mast Therapeutics Inc (NYSEMKT:MSTX) ended Thursday session in red amid volatile trading. The shares closed down -0.0048 points or -5.27% at $0.0862 with 11.00 million shares getting traded. Post opening the session at $0.09, the shares hit an intraday low of $0.08 and an intraday high of $0.09 and the price vacillated in this range throughout the day. The company has a market cap of $17.49 million and the numbers of outstanding shares have been calculated to be 211.82 million shares.
Mast Therapeutics Inc (MSTX) provided an update related to its business strategy and the clinical development of its product candidates.
The Company’s cash, cash equivalents, and investment securities were $30.3 million at August 31, 2016.
The Company will focus on clinical development of AIR001 (sodium nitrite solution for intermittent inhalation) for the treatment of heart failure with preserved ejection fraction (HFpEF). Specifically, during 2016 and 2017, the Company will continue to support three ongoing investigator-sponsored Phase 2 clinical studies of AIR001 being conducted at prestigious research institutions.
The Company has begun to wind down its vepoloxamer programs in sickle cell disease and heart failure and expects those activities will be completed in the fourth quarter of 2016.
While furthering the development of AIR001 through the ongoing Phase 2 clinical studies, the Company is planning to initiate a process to evaluate partnership opportunities for its assets.