Abbott Laboratories (NYSE:ABT) shares went down -0.43% or -0.18 points to reach at $42.10 during the course of session. The stock traded in the range of $42.03 – $42.53 during its most recent trading session. The stock has total market worth of $62.31B and it has total of 1.47B outstanding shares. Relative strength index (RSI-14) for Abbott Laboratories (NYSE:ABT) is at 70.11.
Historically the stock has climbed 1.12% in the past week and soared 13.17% in the last four weeks, the stock illustrate that its three months performance stands at -2.42% while its year to date performance is at -4.5%. Stock’s price oscillated from $51.74 to $36.00 during past twelve months. The stock is now trading at a distance of 7.04% from SMA-20. The stock is presently trading 9.09% above from its SMA-50. In the current trading session, the stock’s price moved 3.50% above from its SMA-200. If we take a look on its volatility, 1.14 percent was seen in a week and for the month it was 1.65 percent. Stock’s beta value stands at 1.00 and its ATR value is at 0.69.
Abbott Laboratories (NYSE:ABT) on July 15, 2016 announced that the U.S. Food and Drug Administration (FDA) has approved the Tecnis Symfony Intraocular Lenses for the treatment of cataracts. The first in a new category of intraocular lenses (IOLs), the Tecnis Symfony lenses are the only lenses in the United States that provide a full range of continuous high-quality vision following cataract surgery, while also mitigating the effects of presbyopia by helping people focus on near objects. The FDA approval includes a version of the lens for people with astigmatism, the Tecnis Symfony Toric IOL.
Cataracts are a common condition, with almost 4 million cataract surgeries performed each year, and that number is expected to increase.1 By age 80, more than half of all Americans either have a cataract or have had cataract surgery.2 However, cataracts do not just impact seniors. In 2016 it is estimated that nearly one in four cataract surgeries will be performed on people younger than 65.1 Many people who have cataracts experience other problems with their vision, such as presbyopia and astigmatism, which the Symfony lenses also address. Presbyopia, which affects most people over age 40, means people have lost the ability to focus on objects up close and often require glasses to perform near visual tasks. Astigmatism is when the cornea is misshapen, which causes blurry or distorted vision.
“The Symfony intraocular lens is a new option I can offer my patients to improve their vision following cataract surgery, especially those who have difficulty focusing on objects at near distances because of presbyopia,” said Eric D. Donnenfeld, M.D., of Ophthalmic Consultants of Long Island, New York. “Many of my patients live very active lifestyles and want to see clearly at all distances, and without glasses if possible. With the Symfony lens, I can give patients the freedom to enjoy the activities that matter to them, while wearing glasses less.”
During cataract surgery, the natural lens of the eye is removed, and an artificial lens, called an intraocular lens, or IOL, is inserted into the eye. The IOL most commonly used in cataract surgery is a monofocal lens, which only allows the person to see at a distance, with closer objects being out of focus. In contrast, the Symfony lens was specifically developed with features to improve both the range and quality of vision.
Bristol-Myers Squibb Co (NYSE:BMY) shares slipped -1.00% or -0.77 points in order to take the company’s stock at the price of $76.00. Stock’s price oscillated between $77.12 and $51.82 for intra-day trading. Relative strength index (RSI-14) for Bristol-Myers Squibb Co (NYSE:BMY) is at 66.24. It has total market capitalization of $127.18B.
Historically the stock has climbed 0.96% in the past week and soared 5.28% in the last four weeks, the stock illustrate that its three months performance stands at 12.28% while its year to date performance is at 11.73%. The stock hit the peak level of one year at $77.12 and touched the minimum level of $51.82. Shares are trading -1.20% off from the 52-week high and +50.07% above from the 52-week bottom level. The stock is now trading at a distance of 4.01% from SMA-20. The stock is presently trading 5.43% above from its SMA-50. In the current trading session, the stock’s price moved 14.67% above from its SMA-200. The company has a Return on Assets of 4.90%. The company currently has a Return on Equity of 10.70% and a Return on Investment of 4.60%.
Bristol-Myers Squibb Co (NYSE:BMY) and Cormorant Pharmaceuticals announced on July 05, 2016 that Bristol-Myers Squibb has acquired all of the outstanding capital stock of Cormorant, a private, Stockholm, Sweden-based pharmaceutical company focused on the development of therapies for cancer and rare diseases. The acquisition gives Bristol-Myers Squibb full rights to Cormorant’s HuMax-IL8 antibody program and the lead candidate HuMax-IL8, a Phase 1/2 monoclonal antibody targeted against interleukin-8 (IL-8) that represents a potentially complementary immuno-oncology mechanism of action to T-cell directed antibodies and co-stimulatory molecules.
IL-8 is a protein expressed by many solid tumors within the tumor microenvironment that suppresses the immune system and increases the ability of tumors to metastasize. By targeting IL-8, HuMax-IL8 offers the potential to enhance immune response and increase the efficacy of existing cancer medicines through combination therapy. The rights to HuMax-IL8 were acquired by Cormorant from Genmab A/S in 2012 under an exclusive license agreement.
“We believe combination therapy will be foundational to delivering the potential for long-term survival for patients, and the opportunity to develop the HuMax-IL8 antibody program together with our broad Immuno-Oncology pipeline enables us to accelerate the next wave of potentially transformational immunotherapies,” said Francis Cuss, MB BChir, FRCP, executive vice president and chief scientific officer, Bristol-Myers Squibb.
“Bristol-Myers Squibb is the ideal company to maximize the potential of both Cormorant and the HuMax-IL8 program, and bring hope to more patients,” said Maarten de Château, M.D., Ph.D., chief executive officer, Cormorant Pharmaceuticals. “Bristol-Myers Squibb is the leader in the Immuno-Oncology field, with deep clinical development and regulatory expertise, and an established commercial infrastructure to deliver important new therapies to patients quickly. Bristol-Myers Squibb’s rich pipeline of clinical candidates and approved products provides even more opportunity for potential therapeutic synergy when coupled with HuMax-IL8.”