EnteroMedics Inc (NASDAQ: ETRM) is off to an overwhelmingly strong start to the trading session today, and for good reason. The company announced that yet another new center has treated a patient with vBloc® therapy. Of course, this led to excitement among investors and gains in the value of the stock. As is nearly always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:20), ETRM is trading at $5.24 per share after a gain of $0.17 per share or 3.31% thus far today.
ETRM Announces First vBloc Treatment At New Medical Center
As mentioned above, EnteroMedics is off to an incredibly strong start in the market today after announcing that yet another medical center has completed its first vBloc treatment. In a press release, the company announced that AMITA Health Adventist Medical Center Bolingbrook in Bolingbrook, IL has successfully completed its first implant of vBloc Neurometabolic Therapy. In the press release, the company said that while the treatment was implanted just 3 months ago, the patient has already lost 30 pounds. In a statement, Dan Gladney, President and CEO at ETRM, had the following to offer…
“With the obesity rate over 30 percent in the state of Illinois, we are proud to work with AMITA Health to make vBloc accessible for those struggling with weight loss, and we are pleased to learn Dr. Shayani’s patient achieved excess weight loss of about 32 percent and total body weight loss of 9 percent after approximately three months… As we begin to see more commercial vBloc procedures performed, we continue to build on the existing body of evidence demonstrating that vBloc is a safe and effective weight loss option for these patients.”
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The Trend Isn’t Likely To Stop
At the end of the day, ETRM continues to do just what it set out to do. It seems like every few weeks, we’re hearing about yet another treatment center that has successfully completed the implementation of vBloc therapy into their practice. This continued trend shows that EnteroMedics is well on track with regard to becoming the primary choice with regard to weight loss implants. If this trend continues, and it’s likely to do so, the gains we’ve seen as of late could be just the tip of the iceberg.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ETRM. In particular, we’re interested in following the company as it continues to expand vBloc therapy into more and more treatment centers. Nonetheless, we’ll continue to follow the story closely and bring you the news as it breaks!
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