Shares of StemCells Inc(NASDAQ:STEM) ended Thursday session in red amid volatile trading. The shares closed down -0.003 points or -0.76% at $0.380 with 189,980 shares getting traded. Post opening the session at $0.40, the shares hit an intraday low of $0.37 and an intraday high of $0.40 and the price vacillated in this range throughout the day. The company has a market cap of $4.16 million and the numbers of outstanding shares have been calculated to be 11.70 million shares.
StemCells Inc(STEM) engages in the research, development, and commercialization of cell-based therapeutics and related technologies. It develops HuCNS-SC platform technology, a purified human neural stem cells used as a potential therapeutic to treat diseases and disorders of the central nervous system. The companys HuCNS-SC is in Phase I clinical trials for the treatment of Pelizeaus-Merzbacher Disease; and has completed a Phase I clinical trial for infantile and late infantile neuronal ceroid lipofuscinosis. Its HuCNS-SC is also in Phase I/II clinical trials for the treatment of thoracic spinal cord injury; Phase II clinical trials for the treatment of cervical spinal cord injury; and Phase I/II clinical trials for dry age-related macular degeneration. StemCells, Inc. was founded in 1988 and is headquartered in Newark, California.
Shares of Opko Health Inc. (NYSE:OPK) ended Thursday session in green amid volatile trading. The shares closed up +0.24 points or 2.50% at $9.85 with 1.50 million shares getting traded. Post opening the session at $9.75, the shares hit an intraday low of $9.67 and an intraday high of $9.86 and the price vacillated in this range throughout the day. The company has a market cap of $5.23 billion and the numbers of outstanding shares have been calculated to be 547.44 million shares.
On June 30, 2016 Opko Health Inc. (OPK) and Transition Therapeutics Inc. (NASDAQ:TTHI, TSX:TTH) announce the signing of a definitive agreement under which OPKO will acquire Transition Therapeutics, a clinical stage biotechnology company.
Under the terms of the agreement approved by the Boards of Directors of both companies, Transition Therapeutics security holders will receive approximately 6.4 million shares of OPKO common stock. Based on the moving average price of OPKO common stock for the five trading days preceding the signing of the agreement, the transaction is valued at approximately US$60 million, or US$1.55 per share of Transition Therapeutics common stock, based on current outstanding shares. The companies expect the transaction to close during the second half of 2016, subject to approval of Transition Therapeutics stockholders and other customary conditions.