Marcus Anderson

Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.
DelMar Pharmaceuticals Inc (NASDAQ:DMPI)

Why Volumes Exploded for DelMar Pharmaceuticals Inc (NASDAQ:DMPI)

DelMar Pharmaceuticals Inc (NASDAQ:DMPI)

Shares of DelMar Pharmaceuticals Inc (NASDAQ:DMPI) are up over 80% after the biopharmaceutical company announced that the U.S. Patent and Trade Office (USPTO) issued a patent covering covering improved analytical methods for analyzing and determining impurities in dianhydrogalactitol (VAL-083). DMPI stock is trading around the $2.00 level after closing at $1.12 yesterday. DelMar Shares gapped up to open at $1,80 before hitting their inter-day high of $2.29. Volumes have been strong. DMPI shares have a 30-day, daily traded volume of under 150,000 but by noon today over 16.8 million shares have traded.

DelMar Pharmaceuticals Inc (NASDAQ:DMPI)
Two day DMPI stock price chart

Delmar Pharmceuticals Patents

The newly issued patent strengthens DelMar Pharmaceuticals Inc (NASDAQ:DMPI) their intellectual property portfolio surrounding their VAL-083 manufacturing process. VAL-083 is billed by DelMar as a first-in-class DNA targeting agent that has successfully demonstrated clinical activity against a range of tumor-types in prior clinical trials sponsored by the U. S. National Cancer Institute (NCI). VAL-083 is currently protected by eight U.S. patents and eight patents outside of the U.S.

DMPI Stock

Ironically, DelMar Pharmaceuticals Inc (NASDAQ:DMPI) was downgraded by Maxim Group just one month ago – from a “Buy” to a “Hold”. DMPI stock had just made a new 52-week low of $1.05 last week. However the news surrounding the patent issuance now places the stock almost 100% off their lows. Unfortunately, long-term holders of DelMar Pharmaceutical stock are still well off their 52-week high of $6.90.

The micro-cap biopharmaceutical firm has only produced a profit for shareholders once in the past five years – in 2014. Per share losses in the other years range from (-$0.46) in 2015 to (-$1.12) in 2013. On top of that, dilution is an ongoing concern for long-term holders of the stock. In 2012 there were 3.31 million shares outstanding. By 2016 that number was reported at 10.95 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) Plunges 41%

Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Synchronoss Technologies, Inc. (NASDAQ:SNCR) shares slumped 41% after Siris Capital Group said it was no longer interested in acquiring the company. The announcement fuelled a sell-off of the stock as investors questioned the company’s long-term prospects after failing to report quarterly earnings since the start of the year.

Synchronoss Technologies, Inc. (NASDAQ:SNCR)
One month SNCR stock price chart

Synchronoss Stock Performance

Tuesday’s sell-off pushed the stock near its all-time lows even as Synchronoss Technologies, Inc. (NASDAQ:SNCR) reiterated it was exploring a number of strategic options. The stock is already down by more than 60% for the year as it continued to trade in a strong downtrend close to its 52-week low of $9.76 a share.

A move by Siri to withdraw from the negotiations raised questions about Synchronoss Technologies, Inc. (NASDAQ:SNCR), given that it is the largest shareholder with a 13% stake. In a bid to prevent a further slump of the stock, the company says it is in active discussions with other parties as it continues to explore a wide range of strategic options

“The Synchronoss Board is committed to enhancing value for all shareholders and continues to explore a full range of strategic, operational and financial alternatives, which may include a sale of the Company or other transactions,” The company in a statement.

The statement did little to lift investor’s sentiments on the stock as the company continues to face a number of uncertainties. In addition to failing to post quarterly financial results, mass exodus of high-ranking executives is another headwind that continues to elicit investor concerns.

Early this year, the leader of mobile cloud innovation for mobile carriers, enterprises, and retailers announced that its CEO and CFO were stepping down after just a few months into the job.

Late last year Synchronoss Technologies, Inc. (NASDAQ:SNCR) announced the acquisition of IntraLinks holdings for $821 million. The company, later on, announced plans to divest a portion of the business to Sequential Technology International in a deal believed to have fetched as much as $146 million. It is still unclear how the remaining business has performed as the company is yet to issue a corporate and financial update.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Is Mirati Therapeutics, Inc. (NASDAQ:MRTX) Topping?

Mirati Therapeutics, Inc. (NASDAQ:MRTX)

Traders are active in Mirati Therapeutics, Inc. (NASDAQ:MRTX) and are sending the shares up over 2.0% on heavy volume as of 10:30 AM EST. Last Friday MRTX stock essentially doubled after the biotech company released a statement announcing positive Phase 2 trial data on its two non-small cell lung cancer treatment trials using sitravatinib in combination with nivolumab (OPDIVO®).

The volatility of MRTX shares is showing up clearly in their option pricing as MRTX options are reportedly now being offered at some of the highest intrinsic values of any stock trading. Clearly the street believes that Mirati Therapeutics, Inc. (NASDAQ:MRTX) future may have a significant upside potential.

MRTX Share Action

MRTX shares gapped up to open today’s session but traders sold off the gains. Volume has been very heavy. The 30-day, daily average volume for MRTX is just over 1 million shares but only one hour into trading over 3.25 million shares have traded. If that pace continues throughout the session, MRTX shares will trade over 17 times their average volume.

Mirati Therapeutics, Inc. (NASDAQ:MRTX) has not traded above the $10 level since mid-2016 so resistance and support at current levels ($11.20) are dynamic and subject to shifting tides. However it is hard to deny that the stock is in rare air as the Relative Strength Index (RSI) hovers above 85. Typically, traders believe that a stock with an RSI above 70 is reaching “overbought” territory.

Mirati Therapeutics, Inc. (NASDAQ:MRTX)
One month MRTX stock price chart

Analyst Reaction to MRTX

Prior to the release of positive Phase 2 trial data, analysts had assigned a consensus price target of $10.80 to MRTX shares. Of the seven firms that followed Mirati Therapeutics, Inc. (NASDAQ:MRTX), four gave the stock a rating of “Strong Buy” while three gave MRTX shares a “Hold” rating. The analysts believe that MRTX earning’s growth will be about four times the average for a company in the biotech sector. However, Mirati Therapeutics, Inc. (NASDAQ:MRTX) has yet to post a profit. As a matter of fact, last year was the largest per share loss shareholders experienced over the last three years.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) 400,000 Subscribers

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) was a big mover after its acquisition target MoviePass Inc. announced it had surpassed 400,000 paying monthly subscribers over the last 30 days. The stock rallied 39.54% to end last week’s trading session at a high of $3.67 a share.

The stock is currently trading at a key resistance level, above which it could surge to highs of $4.50 a share, levels last seen in June. However, the stock continues to trade in a downtrend in a tight $2.70 – $3.80 trading range.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)
One month HMNY stock price chart

Renewed investor interest in the stock comes on MoviePass movie theater audience rising from less than 20,000 as of August 14, 2017, to current highs. The two companies attribute the viral subscriber growth to innovative and disruptive technology that has come into play as well as the impact of the new $9.90 monthly subscription plan.

Price Reduction

The company recently slashed the price of its monthly subscription from $30 to $10. MoviePass is confident of acquiring at least 2. 5 million paying subscribers over the next 12 months.

MoviePass’ $10 a month deal has however not gone well with some industry players. AMC Entertainment Holdings Inc. (NYSE:AMC) has already said it plans to block the usage of MoviePass cards in its theaters across the U.S.

It awaits to be seen how AMC will make god on its threat, given that Mastercard powers MoviePass cards, which operate just like any other credit card. Mastercard Inc. (NYSE:MA)’s rules also require all merchants to accept all cards it powers without discrimination.

Targeted advertising

MoviePass is currently using Helios and Matheson Analytics Inc. (NASDAQ:HMNY) analytics resources to analyze consumer parents as part of an effort that that seeks to enhance targeted advertising and concessions based on experiences. The company expects the new technology to transform the movie-going experience in addition to creating value for both companies.

The technology is designed to learn individual movie tastes and in return make recommendations based on recorded preferences.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) has already started to incorporate advertising models with the MoviePass application in a bid to provide studios with precise data that they can use to attract huge audiences

“Though expensive for the company in the short-term, it’s a significant benefit and more convenient for customers. With MoviePass, there are no movie ticket prices to think about — going to the movies will become an everyday experience rather than an occasional treat,” said MoviePass CEO Mitch Lowe.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Aethlon Medical, Inc. (NASDAQ:AEMD)

Aethlon Medical, Inc. (NASDAQ:AEMD)’s Device Gets Accelerated FDA Review

Aethlon Medical, Inc. (NASDAQ:AEMD)

Aethlon Medical, Inc. (NASDAQ:AEMD) shares rallied 35.13% after the U.S. Food and Drug Administration (FDA) granted the life sciences and technology company Expedited Access Pathway Designation. The designation is for Aethlon Medical’s Hemopurifier device.

Investors Reaction

Investors reacted to the news sending the stock to highs of $3.80 a share before it retreated to close the day at $2.70 a share. The rally helped reverse a strong downtrend that had pushed the stock to lows around $1.20 a share. It awaits to be seen if a close above the $2.00 mark will help support the recent uptrend.

Aethlon Medical, Inc. (NASDAQ:AEMD) has been trading between $1.50-$3.85 after shedding more than 30% in market value since the start of the year. The FDA designation continues to fuel investor’s sentiments on the stock on the fact it could accelerate the approval of the Hemopurifier.

Aethlon Medical, Inc. (NASDAQ:AEMD)
One month AEMD stock price chart

Hemopurifier is designed to reduce the spread of pathogens in the patient’s circulatory system. The device can be used to treat a wide range of life threatening viruses. Currently, the device is being used to capture a broad spectrum of viruses, most of which are highly glycosylated, including life threatening strains of influenza viruses.

“We are honored to have our Hemopurifier® designated to the Expedited Access Pathway and additionally are pleased that FDA has also allowed our proposed “indication for use,” which provides the possibility of treating a wide-range of life-threatening viruses versus a single disease condition,” said Jim Joyce, Chairman, and CEO of Aethlon Medical, Inc. (NASDAQ:AEMD).

Aethlon Medical Hemopurifier Uncertainty

However, the Hemopurifier continues to be plagued by uncertainty as the next course of action after the FDA designation remains unknown. Aethlon Medical, Inc. (NASDAQ:AEMD) is yet to ascertain how it will proceed with clinical studies to determine the safety and efficacy of the device in highly virulent and pandemic threats. Currently, there is no FDA approved device the treatment of highly deadly viruses.

Separately, Aethlon Medical, Inc. (NASDAQ:AEMD) reported a net loss of ($1.4) million for the first fiscal quarter ended June 30, 2017, compared to a net loss of $2.2 million in Q2 2017 and $1.5 million in Q4 2017. The life sciences company exited the quarter with cash and cash equivalent of $327, 000 down from $1.4 million as of Q4 2017.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Idera Pharmaceuticals Inc. (NASDAQ:IDRA) Surges on Melanoma Study

Idera Pharmaceuticals Inc. (NASDAQ:IDRA)

Idera Pharmaceuticals Inc. (NASDAQ:IDRA) shares rallied 14% as investors reacted to top line results presented at the European Society for Medical Oncology conference for the company’s melanoma candidate IMO-2125. Trial results indicate that only one of the 18 patients enrolled experienced disease progression after treatment with the drug.

IMO-2125 Response Rate

The normal response rate among melanoma patients after treatment with PD-1 is usually 10-13%. Idera Pharmaceuticals Inc. (NASDAQ:IDRA)’s, IMO-2125 provided a much higher response rate after shrinking tumors in six of nine patients on 8mg dosage, translating to a 66.67% response rate.

“Based on these positive and encouraging response data in anti-PD-1 refractory melanoma, where the greatest need exists, we have expanded the target number of patients in the ongoing Phase 2 expansion, including broadening eligibility to patients who have received prior ipilimumab,” stated Joanna Horobin, M.B., Ch.B., Idera’s Chief Medical Office.

Shares of the clinical stage biotech received a bump on the positive response data as they touched highs of $2.30 a share before retreating to the $2.23 mark. The stock has already broken a key resistance level and the street is waiting to see if it will continue to power to the $2.60 mark.

Following the positive trial results, IMO-2125 has been selected for further development in combination with ipilimumab. Idera Pharmaceuticals Inc. (NASDAQ:IDRA) will carry out a Phase 3 trial of the drug in patients with PD-1 refractory melanoma in the first quarter of 2018. Preparations for the proposed trial are already underway as the company seeks to gain a head start in the treatment of the unmet medical need.

Disappointing Q2

The top line results have helped shrug off concerns about the company’s prospects following disappointing Q2 financial results. The clinical stage biopharmaceutical company reported a net loss of (-$21.5) million or ($-0.14) share. Wall Street was expecting a net loss of (-$0.11) a share. Revenue in the quarter totaled $187,000.

Research and development expenses in the quarter increased to $17.9 million compared to $10.1 million reported a year earlier. General and administrative expenses in the quarter came in at $3.9 million compared to $3.8 million reported a year earlier. Idera Pharmaceuticals Inc. (NASDAQ:IDRA) ended the quarter with cash and cash equivalent of $77.2 million more than enough for funding operations into the fourth quarter of 2018.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $IDRA and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Clean Coal Technologies Inc (OTCMKTS:CCTC)

Clean Coal Technologies Inc (OTCMKTS:CCTC) Rallies On Pristine M Process Validation

Clean Coal Technologies Inc (OTCMKTS:CCTC)

Clean Coal Technologies Inc (OTCMKTS:CCTC) shares rallied 8.56%, after the clean energy company announced a receipt of deposit for the construction of a two million ton facility using its Pristine M process. The Wyoming New Energy facility, first announced in June, is to be built by Kiewit Construction.

WNEC Two Ton facility

WNEC has already entered into a financing agreement with Piper Jaffray as it seeks to raise $80 million in debt to help finance the construction the plant.

“This revenue validates our patented Pristine M technology. With the aid of our EPC contractors Kiewit, the final commercial design of the plant is expected later this year and will provide customers worldwide with the blueprint for a cleaner, more efficient and cost effective fuel,” stated Robin Eves, CEO and President of Clean Coal Technologies Inc (OTCMKTS:CCTC).

Kiewit engineers have already started work on the massive project. Over the past two months, the engineers have fine-tuned the test plant near Tulsa, OK with hot runs poised to commence over the next few days.

Pristine M Technology Validation

Renewed investor interest in Clean Coal Technologies Inc. (OTCMKTS:CCTC) comes on growing confidence of the impact the project could have on the company’s Pristine M technology. The technology is designed to convert normal coal into a cleaner burning fuel. Pristine coal products have already proved to be more efficient, less polluting and more cost effective than untreated coal.

The clean coal technology can reduce up to 90% of chemical pollutants such as sulphuric and mercury. The company has already received patent awards for the technology in Brazil and Colombia, which are key markets for the technology.

Separately, the Fifteenth Judicial Circuit in Palm Beach, Florida has overturned a jury verdict awarded to Plaintiff Yessenia Soffin and William Jordan Soffin at the expense of Clean Coal Technologies Inc. (OTCMKTS:CCTC).

“It was clear that the Plaintiffs failed to present any competent, substantial evidence in support of their outrageous claims for alleged lost profits in this case. There was absolutely no way for the jury to determine the Plaintiffs’ purported damages within a reasonable degree of certainty due to the highly speculative nature of the stock market,” said Kristen Lake Cardoso, Clean Coal Technologies Inc (OTCMKTS:CCTC) attorney

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Image Protect Inc (OTCMKTS:IMTL)

Image Protect Inc (OTCMKTS:IMTL) Explodes 66.67% On Partnership

Image Protect Inc (OTCMKTS:IMTL)

Image Protect Inc (OTCMKTS:IMTL) rallied 66.68% after announcing plans to team up with Safe Creative, to streamline the tracking of registered images and illustrations online. The partnership comes on the heels of the company announcing 3000 actionable infringement cases in Q1.

Thursday’s rally saw the stock break a key resistance level at the $0.035 level to end the day at $0.04 a share. The rally helped reverse, be it in the short term, a strong downtrend that has plagued the stock.

The stock of Image Protect Inc (OTCMKTS:IMTL) is currently trading in a $0.02 – $0.04 range, waiting to see if the recent rally has the momentum to push it to 2017 highs of $0.07 a share. The stock faces immediate resistance at the $0.05 mark above which it could rise to the $0.07 mark. Its 52-week high is $0.15.

Safe Creative Partnership

Formation of a joint venture with the European partner appears to have renewed investor interest in the stock as the deal is poised to lead to additional revenues. Safe Creative is a global copyright registry with over 7,000 users. The firm uses sophisticated systems to generate and manage copyrights.

“We anticipate both platforms to benefit from our aligned strategies to solve important copyright issues for our clients. This broadens our access to our monitoring services to the member photographers of Safe Creative while creating additional revenue for the company,” said Jonathan Thomas, COO of Image Protect Inc (OTCMKTS:IMTL).

Software Solution

Teaming up with Safe Creative could not have come at a better time as Image Protect Inc (OTCMKTS:IMTL) is currently representing over 170,000 photographers and 31 photo Agencies. The two groups are relying on the company to protect copyrights of their images posted online

The company has developed an end to end business solution that can be passed through blogs, corporate and editorial websites to ensure that all images adhere to copyright laws. The software has grown from a beta-tested service to a full service in less than three years, monitoring over 10 million images.

The software solution is leading Image Protect push in the fight against online piracy.

“Order is being brought to the fast-moving world of the internet age, who owns what, and who has the rights to post and use Images, content, and videos,” said Chief Executive Officer, Lawrence Adams.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Sunset Island Group Inc (OTCMKTS:SIGO)

Sunset Island Group Inc (OTCMKTS:SIGO) Expanding Production

Sunset Island Group Inc (OTCMKTS:SIGO)

Sunset Island Group Inc (OTCMKTS:SIGO) yesterday revealed that its cannabis grow space would be expanded. Initially the grow space will be increased to at least 152,000 square feet while still leaving room for more expansion later. The cannabis grower also disclosed that 6,000 square feet of grow space was already under construction. Consequently the stock price jumped by 33.33% to reach $1.12 in Wednesday’s trading.

Sunset Island Group Inc (OTCMKTS:SIGO)
One month SIGO stock price chart

At the same time the cannabis grower has revealed that MAPAL Agro supplies and equipment were being ordered to ensure that clones are planted in readiness for harvesting three months from now.

“The MAPAL Agro equipment and supplies are being ordered and set up and clones will be fully planted and ready for harvest approximately 90 days from now,” said the chief executive officer of Sunset Island Group, T.J. Magallanes in a statement.

Magallanes also provided detail on Sunset Island Group Inc (OTCMKTS:SIGO)’s business structure saying that they had set a realistic revenue target of approximately $200 for every square foot of cannabis planted. Sunset’s CEO said officers of the company, including himself, did not take salaries and they are solely compensated through a dividend that is paid monthly – just like what the shareholders receive. Currently Sunset Island Group has 4.7 million shares outstanding.

Preferred status shares

Magallanes added that shares belonging to officers are in preferred status and have a 36 month lock-in period starting from the day of any conversion. In order to expand, Sunset Island Group is looking to raise capital via an S-1 filing as well as converting into preferred shares a couple of substantial investments. The Chief Executive Officer of Sunset Island Group also revealed that the company held no real debt or even toxic debt and that would not change.

Due to the fact that the firm was harvesting rotationally, it is able to produce throughout the year. Sunset Island Group is also one of the cannabis grow facilities which have been awarded the Enviroganic Certification. Magallanes further revealed that shareholders can pay a visit to the firm for a tour on September 16, 2017.

The expansion of Sunset Island Group Inc (OTCMKTS:SIGO)’s grow space comes a little more than a week after the cannabis grower revealed that it was expecting a substantial rise in revenue from selling cannabis clones which are currently enjoying high demand in the state of California. Sunset projects it can sell 10,000 clones a month at the start and later increase to 50,000. Each clone costs between $5 and $10.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Catalyst Biosciences Inc (NASDAQ:CBIO) Stock Surges On Hemophilia B Trial

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc (NASDAQ:CBIO) stock jumped 11.50% after announcing positive clinical data from an ongoing Phase ½ proof-of-concept in people suffering from severe hemophilia B. According to the biopharmaceutical company, top line potency results support the use of CB 2679d as a subcutaneous therapy for the prevention of bleeding in patients with Hemophilia B.

The positive factor IX clinical data helped push the stock to a key resistance level at the $4.00 a share level before it retreated to the $3.78. The stock continues to trade in a year-long downward trend, but investors are waiting to see if the news will help CBIO reverse direction.

Catalyst Biosciences Inc (NASDAQ:CBIO)
One month CBIO stock price chart

Positive CB 2679d Trial Results

Clinical trial results indicate that an intravenous dose of CB 2679d is about 22 times more potent than a case of BeneFIX. The factor IX protease was also found to have the ability to stay in circulation much longer – for up to 34 hours compared to BeneFIX which remains for up to 25 hours.

“We believe that CB 2679d will have advantages over the currently approved intravenous prophylactic treatments that are known to have a prolonged period of low activity levels with increased risk of spontaneous bleeding,” said Nassim Usman, Ph.D., Catalyst Biosciences Inc (NASDAQ:CBIO)’s President and Chief Executive Officer.

Catalyst Biosciences Inc (NASDAQ:CBIO) has already received $0.7 million from ISU Abxis to be used on development of the intravenous prophylactic treatment. It has also received Orphan Medicine Designation from the European Commission for the use of SQ CB 2679d on hemophilia B patients.

Financial stability

Positive CB 2679D trial results come on the heels of Catalyst Biosciences making significant progress in the second quarter in both its clinical programs and balance sheet. The company raised $26 million for the first six months of the year with $2.7 million coming from the underwritten public offering and $5.3 million from its Capital in demand program.

Catalyst Biosciences Inc. (NASDAQ:CBIO) had a total of $32.4 million in cash and a cash equivalent as of the end of the quarter which it believes is sufficient to finance all projects going forward. The company exited the second quarter with a net loss of (-$9.8) million double a net loss of (-$4.8) million reported last year.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CBIO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.