Shares of Merck & Co., Inc. (NYSE:MRK) ended Tuesday session in green amid volatile trading. The shares closed up +0.26 points or 0.41% at $63.24 with 2.77 Billion shares getting traded. Post opening the session at $62.99, the shares hit an intraday low of $62.77 and an intraday high of $63.47 and the price vacillated in this range throughout the day. The company has a market cap of $175.09 Billion and the numbers of outstanding shares have been calculated to be 2.77 Billion shares.
Merck & Co., Inc. (MRK) on September 2, 2016 announced that it is discontinuing the development of odanacatib, Merck’s investigational cathepsin K inhibitor for osteoporosis, and will not seek regulatory approval for its use. Merck previously reported a numeric imbalance in adjudicated stroke events in the pivotal Phase 3 fracture outcomes study in postmenopausal women. The company has decided to discontinue development after an independent adjudication and analysis of major adverse cardiovascular events confirmed an increased risk of stroke. The data from the analysis will be presented at the American Society for Bone Mineral Research (ASBMR) in September.
“We are disappointed that the overall benefit-risk profile for odanacatib does not support filing or further development,” said Roger M. Perlmutter, M.D., Ph.D., president, Merck Research Laboratories. “We are very thankful to the researchers and patients who participated in the odanacatib clinical development program. We have learned that odanacatib treatment reduces the risk of osteoporotic fractures. At the same time, we believe that the increased risk of stroke in our Phase 3 trial does not support further development.”
Shares of Amedica Corporation (NASDAQ:AMDA) ended Tuesday session in green amid volatile trading. The shares closed down +0.120 points or 13.95% at $0.980 with 23.58 million shares getting traded. Post opening the session at $0.86, the shares hit an intraday low of $0.84 and an intraday high of $1.06 and the price vacillated in this range throughout the day. The company has a market cap of $22.84 million and the numbers of outstanding shares have been calculated to be 23.58 million shares.
Amedica Corporation (AMDA) on Aug 24, 2016 announced the U.S. Food and Drug Administration (FDA) clearance of expanded Valeo® II Lateral Lumbar sizes. The additional sizes of the Valeo II LL interbody fusion device will be commercially available August 29, 2016.
The Valeo II LL interbody fusion device is made entirely of Amedica’s proprietary medical grade silicon nitride ceramic — an ideal material for fusion, due to its inherent osteoconductivity, anti-infective properties, bone-like imaging (artifact-free & radiotranslucent), and exceptional strength. The system includes second generation instrumentation to improve patient safety and surgeon ease of use.
“I’m delighted to announce the recent FDA clearance of our expanded silicon nitride lateral lumbar implant offerings,” said Dr. Sonny Bal, Chairman and Chief Executive Officer. “It’s estimated that lateral lumbar procedures will remain one of the fastest growing interbody fusion segments over the next five years. The minimally invasive nature of the procedure provides patients with benefits such as less blood loss, smaller incisions and shorter hospital and intraoperative times. We believe these clinical benefits, coupled with our unique silicon nitride biomaterial will lead to an improved continuum of care for individuals.”