* Data shows significant weight loss in patients
* Shares rise 124 pct
(Recasts; updates share movement)
June 22 Shares of EnteroMedics Inc (ETRM.O)
more than doubled in value after the company reported positive
data from two studies of its device for treating obesity.
The company said obese patient with Type-2 diabetes, who
were treated with its device Maestro System, showed sustained
improvements in blood sugar, excess weight loss and blood
pressure in a feasibility study called Enable.
The results from the study raised hopes about the
development path for the Maestro System, which in October
failed to meet its main goal. [ID:nBNG383656]
EnteroMedics also said additional results from the Empower
study of Maestro System in obese patients showed sustained
reduction in weight loss over 20 months.
The system continues to meet all of its safety goals, and
no therapy-related serious adverse events were reported, the
EnteroMedics' device is implanted laparoscopically to
periodically block vagus nerves, which control multiple
digestive functions, using high-frequency, low-energy
The company said it continued to see a correlation between
hours of daily device use and excess weight loss.
Shares of EnteroMedics, which earlier touched a high of
$0.65, closed at $0.61 Tuesday on Nasdaq.
(Reporting by Shailesh Kuber and Anand Basu in Bangalore;
Editing by Roshni Menon and Don Sebastian)