Rochester, NY — (Wall Street Grapevine) 12/03/2013 — EnteroMedics (NASDAQ:ETRM) Traders bid up shares of ETRM today. after the company reported new clinical trial data for its Maestro system, designed to treat obesity by blocking nerves with electrical impulses making patients feel less hungry and more satisfied.
Shares hit $2.05 up 49% at one point.
EnteroMedics reported patients on the Maestro RC system lost 25 percent of their excess weight, or 10 percent of their total body weight, after 18 months. Patients who received a fake implant lost only 4 percent of their total weight.
EnteroMedics is in the middle of a five-year study of the Maestro system.
The system has been approved for use in Europe and Australia, but not yet in the U.S.
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