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Big Mover; EnteroMedics Inc. (ETRM)

By Warren Paige

Shares of EnteroMedics Inc. (NASDAQ: ETRM), a development-stage medical device company engaged in the design and development of devices that use neuroblocking technology to treat obesity, its associated co-morbidities, and other gastrointestinal disorders, are up sharply in trading today.

At last check, ETRM shares were trading 7.65% higher at $3.94 on above average volume of 821,607. The stock gained 12.83% in the last three trading sessions.

EnteroMedics today announced the receipt of $3.6 million from the exercise of 1,653,635 warrants through 2012 to date, The company had issued the warrants in December 2010 and September 2011.

ETRM plans to use the proceeds for general corporate purposes. Mark B. Knudson, Ph. D., President and CEO of EnteroMedics, said that ETRM appreciates the investment from its existing stockholders, which continues to support the company’s ability to achieve its milestones and its ongoing strategy.

July 12th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.