EnteroMedics Inc (NASDAQ: ETRM) is having a strong start to the day today in the pre-market hours. Ultimately, the gains are the result of an early morning press release informing investors that the company has received approval to initiate a clinical study in Spain. Of course, our partners at Trade Ideas were the first alert us to the gains. At the moment (9:22), ETRM is trading at $4.61 per share after a gain of $0.14 per share or 3.13% thus far today.
ETRM Gains On Study Initiation Approval
As mentioned above, EnteroMedics is having a great start to the trading session in pre-market hours this morning after announcing that it has received approval from the Ministry of Health, Social Services, and Equality in Spain through the Agency of Medicines and Medical Devices, and the CEIC Ethics Committee to initiate a new clinical trial. The trial will surround the Gastric Vest(TM) System, and will take place in Spain. In a statement, Dan Gladney, President, CEO, and Chairman of the Board at ETRM, had the following to offer…
“We are thrilled to have reached this significant clinical milestone, which supports our plans for CE Mark approval and takes us one step closer to bringing our Gastric Vest product to market… We believe that the Gastric Vest, which is designed to allow rapid excess weight loss over a short period of time through a minimally invasive, non-anatomy-changing procedure, will offer a novel solution for the obesity continuum of care.”
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What Well Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ETRM. In particular, we’re interested in following the ongoing work surrounding the Gastric Vest System and excited for the results of the study that’s soon to come. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!