Clean Diesel Technologies, Inc. (NASDAQ:CDTI) received two U.S. patents that relate to emission control technology. It said the two patents will be a game-changer for both the company’s fortunes and the original equipment manufacturers to which it is targeted. As a company, the breakthrough technology not only expands their portfolio of intellectual properties, but also puts them on a better position to benefit from the stringent environment regulations.
As for the OEMs, Clean Diesel Technologies, Inc. (NASDAQ:CDTI) said the technology will help in cost-saving. OEMs will no longer worry about the costs relating to the platinum group or the rare earth metals for catalytic converters. As such, the company said that its new technology reduces the costs of achieving the stringent air quality control standards.
OEMs around the world spend billions of dollars every year on catalytic converters of the platinum or rare earth metals group. The new environment protection measures only keep making it more expensive for such companies to attain the standards required.
ESB Financial Corporation (NASDAQ:ESBF) agreed to be acquired by WesBanco, Inc. (NASDAQ:WSBC) for about $17.65 per share. The transaction involves both cash and stock of which the cash component reflects $1.76 per share of ESB Financial Corporation (NASDAQ:ESBF). Shareholders of ESBF will also receive 0.502 common stock shares of WesBanco as part of the transaction.
The total value of the transaction is $324.4 million. The emerging company is expected to create a business entity with nearly $8.2 billion of assets. The CEO and the directors of ESB Financial Corporation (NASDAQ:ESBF) will join the board of WesBanco when the deal is completed.
Omeros Corporation (NASDAQ:OMER) announced that its lead product, Omidria, received a reimbursement status known as pass-through. The status assigns a unique billing code and allows for separate payment for the product. Omidria was approved by the FDA for use in cataract surgery. The new status will now allow outpatient and ambulatory surgery facilities to bill Medicare or even other health underwriters for Omidria.
The news was received by the investors, leading to more than 43% gain in the stock of Omeros Corporation (NASDAQ:OMER).