Shares of Opko Health Inc. (NYSE:OPK) ended Friday session in red amid volatile trading. The shares closed down -0.23 points or -2.48% at $9.05 with 4.56 million shares getting traded. Post opening the session at $9.32, the shares hit an intraday low of $9.00 and an intraday high of $9.36 and the price vacillated in this range throughout the day. The company has a market cap of $4.83 billion and the numbers of outstanding shares have been calculated to be 547.44 million shares.
Opko Health Inc. (OPK) on June 13, 2016 announced that it will move its stock exchange listing to The NASDAQ Stock Market from The New York Stock Exchange (the “NYSE”). The Company expects its common stock will begin trading on the NASDAQ Global Select Market (“NASDAQ”) on June 24, 2016, and its shares will continue to trade under the ticker symbol “OPK.”
“NASDAQ is home to many of the world’s best healthcare companies and is a natural fit for OPKO. This move will enhance our public visibility while offering our stockholders cost effective access to advanced trading technologies,” said Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO.
Bob Greifeld, CEO of Nasdaq, said, “Under the leadership of Dr. Frost, OPKO has long been recognized for driving innovation in the pharmaceutical and diagnostics industries to create products that improve our lives. We are proud to welcome the company to Nasdaq.”
The Company has notified the NYSE that it will voluntarily delist its common stock from the NYSE. The last day of trading of the common stock on the NYSE is expected to be on or about June 23, 2016. Until the Company’s Common Stock begins trading on NASDAQ, the Company’s Common Stock will remain trading on NYSE under the ticker symbol “OPK.”
Shares of St. Jude Medical, Inc. (NYSE:STJ) ended Friday session in red amid volatile trading. The shares closed down -0.29 points or -0.38% at $76.44 with 4.53 million shares getting traded. Post opening the session at $76.63, the shares hit an intraday low of $76.41 and an intraday high of $76.77 and the price vacillated in this range throughout the day. The company has a market cap of $21.65 billion and the numbers of outstanding shares have been calculated to be 284.28 million shares.
St. Jude Medical, Inc. (STJ) on June 16, 2016 announced the European launch of the St. Jude Medical Infinity™ Deep Brain Stimulation (DBS) System and directional DBS lead. The system, which received CE Mark approval late in 2015, will support the treatment of patients with the three most common movement disorders in the world: Parkinson’s disease, tremor and dystonia, a disorder which causes involuntary muscle contractions.
Movement disorders are neurologic conditions caused by a communication breakdown throughout the central nervous system that can result in a debilitating loss of muscle control, involuntary movement and reduced coordination. There are currently no proven cures for movement disorders, which means treatment options focus on alleviating symptoms to improve quality of life. St. Jude Medical designed the Infinity system to improve the experience of patients who rely on DBS therapy to manage their symptoms. The company also developed the St. Jude Medical directional lead to help physicians more accurately tailor DBS therapy to their patient’s specific needs while reducing side effects.
The first physician to implant the new Infinity system and the St. Jude Medical directional lead was Prof. Jan Vesper, a professor of functional neurosurgery and stereotaxy at the University Hospital in Düsseldorf, Germany, and president of the German Neuromodulation Society.
“The Infinity system is the first DBS system I’ve encountered that adjusts to the patient’s individual needs, rather than forcing the patient to adjust to the system,” said Prof. Vesper. “Offering my patients a DBS system with exceptional ease of use and smooth manageability is an exciting step in the treatment of debilitating movement disorders.”