|Active Stocks: Affimed Therapeutics, Rewalk Robotics, Amarin Corporation, Cannabis Science, Oxygen Biotherapeutics|
|By Marilyn Mullen|
|Friday, 12 September 2014 14:09|
U.S. stocks slid sharply on Friday, with the Dow industrials on track to snap a five-week stretch of weekly gains, as investors eyed a measure of retail sales and looked ahead to a Federal Reserve meeting next week.The Dow Jones Industrial Average shed 95 points, or 0.6%, to 16954 in early-afternoon trading. On the week, the blue-chip benchmark was off 1.1%. The S&P 500 index lost 14 points, or 0.7%, to 1983. The Nasdaq Composite Index fell 24 points, or 0.6%, to 4563.
Investors didn’t show much enthusiasm for Affimed Therapeutics BV (NASDAQ:AFMD) in its debut today. Shares are down 9% from the $7 offer price on turnover of 2.6M.The German clinical-state biopharmaceutical firm focuses on cancer immunotherapies. Its lead product is is the TandAb AFM13 for Hodgkin Lymphoma. It is currently in Phase 2 clinicals.
Investors are showing Rewalk Robotics Ltd. (NASDAQ:RWLK) a lot of love in its debut today. Shares are up 123% from the $12 offer price on turnover of almost 10M. The company makes a robotic exoskeleton that enables a paraplegic to stand and walk. The firm's founder, Dr. Amit Goffer, knows how profound an innovation this is. He is a quadriplegic.
Amarin Corporation plc (ADR)(NASDAQ:AMRN) slumped 18% on huge volume in following company's announcement that the FDA denied its appeal on the regulator's rescission of the ANCHOR SPA.
Cannabis Science Inc. (OTCMKTS:CBIS) forms a joint venture with Unistraw Holdings Pte. Ltd., to develop cannabinoid-based foods, nutraceuticals and medical products. CBIS will own 50.5% of the JV and Unistraw will own 49.5%.
Oxygen Biotherapeutics, Inc.(NASDAQ:OXBT) stops its Phase 2b clinical trial evaluating the safety and tolerability of Oxycyte, a proprietary perfluorocarbon therapeutic oxygen carrier, in patients with severe non-penetrating traumatic brain injury due to the difficulty in enrolling patients. Completing the trial in a reasonable amount of time is no longer feasible.