On Thursday, Shares of EnteroMedics Inc (NASDAQ:ETRM), lost -7.07% to $0.130.
EnteroMedics Inc. (ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, declared shareholder approval for three proposals: (1) an amendment to the Company’s Fifth Amended and Restated Certificate of Incorporation to effect a reverse split of its issued and outstanding shares of common stock; (2) an improvement in the number of shares of common stock authorized for issuance effective after the reverse stock split; and (3) the issuance of shares of the Company’s common stock underlying convertible notes and warrants issued by EnteroMedics following the terms of a securities purchase agreement dated November 4, 2015.
With shareholder approval, the EnteroMedics Board of Directors has authorized a 1-for-15 reverse stock split of the Company’s common stock, which will be effective for trading purposes as of the commencement of trading on January 7, 2016. As of that date, each 15 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. Any fractional shares of common stock resulting from the reverse stock split will be rounded up to the nearest whole share and any fractional shares of common stock issuable following stock options or warrants will be rounded down to the nearest whole share. EnteroMedics stockholders will receive instructions from its transfer agent, Wells Fargo Bank National Association, as to procedures for exchanging existing stock certificates for new certificates or book-entry shares.
Under the terms of the November 4 securities purchase agreement, the Company will issue to five institutional investors $25.0 million of Senior Amortizing Convertible Notes (the “Notes”) and warrants. $1.5 million of the Notes and Warrants were issued at the initial closing, with the balance to be issued in two tranches of $11.0 million and $12.5 million. The second closing will occur after the implementation of the reverse stock split, and the third closing will occur 45 days after the second closing. The Company presently intends to use the net proceeds from this offering to continue its commercialization efforts for the vBloc® Neurometabolic Therapy, for clinical and product development activities and for other working capital and general corporate purposes.
EnteroMedics Inc., a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. The company’s proprietary neuroblocking technology is designed to intermittently block the vagus nerve using electrical impulses.
Shares of Eldorado Gold Corp (USA) (NYSE:EGO), declined -1.16% to $2.97, during its last trading session.
On Tuesday, December 22, 2015, Nasdaq Composite ended at 5,001.11, up 0.65%, Dow Jones Industrial Average advanced 0.96%, to finish the day at 17,417.27, and the S&P 500 closed at 2,038.97, up 0.88%.
Eldorado Gold Corp.’s stock reduced by 1.58% to close Tuesday’s session at USD 3.12. The company’s shares fluctuated in the range of USD 3.11 and USD 3.25. A total of 2.37 million shares exchanged hands, which was lesser than its 50-day daily average volume of 3.85 million shares and its 52-week average volume of 5.07 million shares. Over the last three days Eldorado Gold Corp.’s shares have advanced 9.86% and in the past one week the stock has moved up 7.22%. Furthermore, over the last three months the stock has gained 6.12% but in the past six months the shares have shed 24.64%. Eldorado Gold Corp has a current dividend yield of 0.48%. Further, the stock is trading at a price to book ratio of 0.47 contrast to a historical PB ratio of 0.83. Additionally, the stock is trading at a price to cash flow ratio of 10.53 and price to sales ratio of 2.74.
Eldorado Gold Corporation, together with its auxiliaries, engages in the exploration, discovery, development, production, and reclamation of gold properties, primarily in Brazil, China, Greece, Turkey, and Romania. It also explores for iron, silver, lead, zinc, and copper ores.
Finally, International Business Machines Corp. (NYSE:IBM), ended its last trade with -1.26% loss, and closed at $137.58.
WANdisco (WAND.L) a leading provider of continuous availability software for global enterprises to meet the challenges of Big Data, declared two of the largest deals ever for its flagship Fusion product for Hadoop, with a combined value of well over one million dollars. These two new contracts comprise an initial sale to a well-known US financial services firm, and a major expansion deal with an existing customer that is also one of Europe’s largest mobile carriers. Both customers use Fusion to meet stringent SLAs (service level agreements) for their production business applications deployed on Hadoop.
The financial services customer, one of the largest life insurers in the US, faces stringent regulatory and business requirements for guaranteed data consistency and availability across multiple data centers. Without a large IT staff dedicated to Hadoop support, they also required a solution that was easy to administer with automated disaster recovery to eliminate downtime and data loss. After extensive evaluation, they selected WANdisco Fusion over the backup and recovery solutions offered by the leading Hadoop distribution vendors, in addition to those from several major hardware vendors that not only couldn’t match its capabilities, but also came with much greater cost and complexity.
The telecommunications customer, one of Europe’s leading mobile carriers, initially selected WANdisco’s big data technology for continuous availability in 2013 after moving to Hadoop to streamline their service activation system, formerly spread across multiple applications and databases. Recently, they expanded the system to new data centers and migrated to a new Hadoop distribution, leveraging Fusion to avoid the downtime and business disruption these activities normally entail. After migration, they found WANdisco Fusion’s platform independent architecture and ability to scale enabled it to work seamlessly in their new environment.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support.
