Active Stocks: Tetraphase, Arena Pharmaceuticals, Prosensa Holding, Endo Pharmaceuticals, Genetic Technologies Print E-mail
By Staff and Wire Reports   
Monday, 07 July 2014 13:42
U.S. stocks fell on Monday, pulling back from record levels as investors held off from making big plays before the

Error. Page cannot be displayed. Please contact your service provider for more details. (19)

start of earnings season. Cyclical stocks, which are tied to the pace of economic growth, were among the weakest of the day, with the S&P industrial sector index down 0.5 percent. The only sectors in positive territory were defensive groups like utilities and telecom. Small-cap stocks also underperformed for the day, with the S&P Small-Cap 600 index down 1.2 percent. The Russell 2000 fell 1.4 percent.

Demonstrating an annoying problem of holding a thinly-traded stock, shares of nano cap Tetraphase Pharmaceuticals ($TTPH) plummet on a 2x surge in volume, albeit only 354K shares, on no news.On June 19, the company announced the completion of enrollment of its Phase 3 clinical trial for its lead product candidate eravacycline as a treatment for complicated urinary tract infections.

The legitimacy of any rosy pronouncements about Belviq's prospects by Arena Pharmaceuticals ($ARNA) CEO Jack Lief has been tarnished a bit with the disclosure of his disposal of a large portion of his holdings of ARNA stock. Mr. Lief felt compelled to unload almost 40% of his stake. Such a large transaction undermines the credibility of "asset diversification" and can only be construed as bearish behavior by the most significant company insider.

Shares of Prosensa Holding N.V. ($RNA) take a dive on modest volume in response to its Thursday afternoon regulatory filing for a $150M mixed shelf offering and the registration for sale of 18.9M shares by certain institutional shareholders.

Shares of thinly-traded nano cap Genetic Technologies ($GENE) jump on an 8x surge in volume (833K shares) in response to its announcement of robust growth in BREVAGen sample volume.

Endo Pharmaceuticals ($ENDP) and BioDelivery Sciences ($BDSI) announce that the Phase 3 clinical trial of BEMA buprenorphine as a treatment for severe pain achieved its primary efficacy endpoint of a statistically significant improvement in chronic pain relief versus placebo in patients with pain severe enough to require daily, 24-hour, long-term opioid treatment for which alternative treatment options are inadequate.




BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and
firms. Full disclosures should be read in the 'About Us Section'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus
 
BMR:1