💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

EnteroMedics announces the acquisition of the Gastric Vest System; shares ahead 33% premarket

Published 05/23/2017, 07:58 AM
© Reuters.  EnteroMedics announces the acquisition of the Gastric Vest System; shares ahead 33% premarket
RSLS
-
  • EnteroMedics (NASDAQ:ETRM) announces that it has acquired the Gastric Vest System, through its acquisition of BarioSurg, Inc.
  • The Gastric Vest is an investigational, minimally-invasive, laparoscopically implanted medical device being studied for weight loss in morbidly obese patients.
  • The consideration paid by EnteroMedics for BarioSurg consists of 1.38M unregistered shares of EnteroMedics common stock, 1M shares of conditional convertible preferred stock convertible into 5M shares of common stock upon EnteroMedics' approval and $2M in cash.
  • In connection with the acquisition, Gastric Vest inventor Raj Nihalani, M.D. will serve as Chief Technology Officer of EnteroMedics.
  • The company will host a conference call today at 10:00 AM ET.
  • Shares are up 33% premarket on light volume.
  • Now read: G1 Therapeutics debuts today at


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.