|Active Stocks: Tetraphase, Arena Pharmaceuticals, Prosensa Holding, Endo Pharmaceuticals, Genetic Technologies|
|By Staff and Wire Reports|
|Monday, 07 July 2014 13:42|
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.