EnteroMedics is having a great day in the market today after an announcement with regard to their recent ReCharge Study. While the announcement reached the media yesterday, overall bearish conditions in the market held the stock down. However, today that’s not the case. Below, we’ll talk about the results of the ReCharge Study, how the stock reacted to the news, and what we can expect to see from ETRM moving forward.
EnteroMedics Announces Analyses Of The ReCharge Study
EnteroMedics announced that analyses of the company’s ReCharge Study demonstrated Excess Weight Loss of 34% as well as a significant improvement in obesity-related risk factors for vBloc Therapy treated, moderately obese patients who had at least one comorbidity. The data was presented at the International Federation for the Surgery of Obesity and Metabolic Disease 29th World Congress in Vienna, Austria. During the announcement, ETRM Executive Vice President and Chief Medical Officer, Scott Shikora, M.D., had the following to say…
“These subgroup analyses of the ReCharge Study, which demonstrated excess weight loss of 34% and major improvements in obesity related risk factors, show the profound and clinically meaningful effect of vBloc Therapy in patients with a Body Mass Index of 35-40 kg/m2… These results show significant benefits as it relates to weight loss and relief of comorbidities and improved safety relative to anatomy altering and restrictive procedures, making vBloc an attractive alternative for those patients unwilling to undergo more drastic procedures to regain their health.”
How The Market Reacted To The News
As mentioned above, the data reached the media yesterday. However, there was no reaction at all yesterday. Market conditions simply couldn’t validate gains. Nonetheless, we are seeing gains today – and in a big way. Currently (12:34), the stock is trading at $0.33 after a gain so far today of 19.67%.
What We Can Expect To See Moving Forward
While my overall opinion of market conditions is weak to say the least, I will say that ETRM is one of the stocks that does have the potential to produce gains moving forward. Recently, we’ve been hearing quite a bit about vBloc Therapy. The commercialization of the therapy is going far better than most had hoped with more physicians trained and more facilities made ready in a few months than expected throughout the entire year. Now, as more positive data surfaces about the therapy, it’s hard to imagine that there’s any reason to be bearish on the stock. So, keep your eye on this one because it’s likely to present more opportunities in the future.
What Do You Think?
Where do you think ETRM is headed and why? Let us know in the comments below!