Shares of Sophiris Bio Inc (NASDAQ:SPHS) ended Thursday session in green amid volatile trading. The shares closed up +0.14 points or 4.91% at $2.99 with 5.16 million shares getting traded. Post opening the session at $3.16, the shares hit an intraday low of $2.90 and an intraday high of $3.24 and the price vacillated in this range throughout the day. The company has a market cap of $82.99 million and the numbers of outstanding shares have been calculated to be 29.12 million shares.
Sophiris Bio Inc (SPHS) on Aug. 26 2016 announced that it has closed its previously announced underwritten public offering. The terms of the completed offering are consistent with the terms which were outlined in the Company’s press release on August 23, 2016.
Piper Jaffray & Co. is acted as sole book-running manager for the offering. Maxim Group LLC is acted as co-manager for the offering.
With the proceeds from the offering, the Company plans to conduct a second Phase 2 clinical trial of topsalysin for the treatment of localized prostate cancer. Consistent with its recently completed proof of concept trial, this new trial will utilize previously obtained MRI images of a patient’s prostate mapped to real time 3D ultrasound to target the delivery of topsalysin directly into and around a pre-identified clinically significant tumor. The primary objectives of the trial will be safety and tolerability of topsalysin when used to focally treat a targeted clinically significant tumor with potential efficacy assessed by targeted biopsy of the treated area, six months after treatment. The Company expects that this clinical trial will enroll approximately 40 patients at two or more trial sites and the Company is exploring potential trial sites in the United States. The Company expects to have six month biopsy data from the trial in the second half of 2017.
Shares of Medtronic PLC (NYSE:MDT) ended Thursday session in green amid volatile trading. The shares closed up +0.98 points or 1.16% at $85.66 with 4.70 million shares getting traded. Post opening the session at $84.66, the shares hit an intraday low of $84.38 and an intraday high of $86.00 and the price vacillated in this range throughout the day. The company has a market cap of $118.38 billion and the numbers of outstanding shares have been calculated to be 1.38 billion shares.
Medtronic PLC (MDT) on September 15, 2016 announced the publication of its Hybrid Closed Loop system pivotal trial results in the Journal of the American Medical Association (JAMA). The data presented the safety of the system and showed that patients on the therapy experienced less glycemic variability, more time in the target range, less exposure to hypoglycemia and hyperglycemia, and reduced A1c compared to baseline data using sensor augmented pumps. The data was concurrently presented at the 52nd annual meeting of the European Association for the Study of Diabetes (EASD) in Munich, Germany.
“This large at-home study demonstrated that participants with Medtronic`s Hybrid Closed Loop system experienced improved glucose control and did not demonstrate any safety issues; during the study phase, there were no episodes of severe hypoglycemia or ketoacidosis in patients with type 1 diabetes on the therapy,” said Richard M. Bergenstal, M.D., principal investigator of the study and executive director of the International Diabetes Center in Minneapolis. “The data is compelling and shows that the system`s ability to automate insulin dosing 24 hours a day has the potential to impact patients` lives in a very meaningful way – particularly at night when it`s most challenging to maintain target blood glucose levels.”
Medtronic`s Hybrid Closed Loop study is the first pivotal U.S. trial of closed loop technology, and the largest and longest at-home closed loop study with over 12,000 days included in the evaluation. The system is designed to automate basal insulin delivery to maximize the time glucose levels are in a healthy range throughout the day and night. This multicenter study enrolled 124 people with type 1 diabetes >=14 years of age at 10 centers (nine in the U.S. and one in Israel).1 Participants in the study were required to enter their mealtime carbohydrates and exercise information, and periodically calibrate the sensor.