Delcath Systems, Inc. (NASDAQ:DCTH) Rallies

Delcath Systems, Inc. (NASDAQ:DCTH)

Delcath Systems, Inc. (NASDAQ:DCTH) continues to edge higher as it builds on a momentum that began early in the month. The stock was up by 36.76% in Wednesday’s trading session as investors reacted to a stellar second quarter, where reported revenues were up 20% year-over-year.  The company has also announced plans to carry out a reverse stock split as it looks to raise funds through the issuance of stock to finance operations.

Delcath Systems, Inc. (NASDAQ:DCTH)
One month stock price chart for DCTH

Stock Performance

Momentum continues to build up around Delcath Systems, Inc. (NASDAQ:DCTH) awaiting to see if the stock will rally. Shares traded have almost doubled to highs of 122 million. However, the stock has underperformed the overall industry and is down from highs of $3 a share.

Reports that Medizinische Hochshule Hannover is using Delcath Systems, Inc. (NASDAQ:DCTH) chemosaturation for the treatment of liver cancer appears to be fuelling renewed investor interest in the stock. The German medical facility has reportedly used innovative minimally invasive treatment in 100 patients.

The life-saving cancer treatment is currently approved in Europe as Delcath Systems, Inc. (NASDAQ:DCTH) continues to work on multiple clinical trials in pursuit of approval in the U.S. Approval in the U.S would be a milestone achievement, which could push the stock even higher in the charts.

Europe Sales Push

A 20% increase in second quarter revenue to highs of $0.6 million underscored growing demand for the company’s products in key markets. Delcath Systems, Inc. (NASDAQ:DCTH) attributes the increase to the establishment of ZE diagnostic reimbursement for Chemosat in Germany. The company plans to leverage the Positive reimbursement support in pursuit of market access in other countries such as the U.K and the Netherlands.

“During the first half of 2017 we continued to advance our clinical development programs in ocular melanoma liver metastases (OM) and intrahepatic cholangiocarcinoma (ICC), while making steady progress with the ongoing commercialization of CHEMOSAT in Europe,” said Jennifer K. Simpson, Delcath Systems, Inc. (NASDAQ:DCTH) CEO.

Separately, Delcath Systems, Inc. (NASDAQ:DCTH) has confirmed plans to carry out a reverse stock split having reached the maximum amount of authorized shares of common stock. The company plans to use the split to access $11.8 million of cash currently in restricted accounts associated with convertible notes issued last year.   The split should also allow the company to regain compliance with the NASDAQ capital markets listing requirements.

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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

SABINA GOLD&SILVER COM NPV (OTCMKTS:SGSVF) Tanks As Q2 Net Loss Widens

SABINA GOLD&SILVER COM NPV (OTCMKTS:SGSVF)

Shares of SABINA GOLD&SILVER COM NPV (OTCMKTS:SGSVF) shed 17.81% as investors reacted to a wider than expected second quarter net loss. The precious metal company says it generated a net loss of (-$0.6) million for the three months ended June 30, 2016, compared to a net income of $0.2 million for the corresponding period last year.

SABINA GOLD&SILVER COM NPV (OTCMKTS:SGSVF)
One month SGSVF stock chart

Net loss for the first six months of the year came in at ($2) million compared to a net loss of ($0.4) million for the corresponding period last year.

SABINA GOLD&SILVER COM NPV (OTCMKTS:SGSVF) has been on an impressive run having rallied from lows of $0.70 a share as of the start of the year to highs of $1.90 a share this month. Tuesday sell off threatens to bring to an end the bullish run that has seen the stock trade in a tight $1.45-$1.77 a share trading range. The stock should find immediate support at the $1.34 mark below which it could tank to $1.16 a share.

The precious metal company engages in the business of acquiring, exploring and development of mineral resources across Canada. The company owns 100% interest in the Back River Gold Project located in Southwestern Nunavut Canada as well as the silver royalty on the Hackett River.

SABINA GOLD&SILVER COM NPV (OTCMKTS:SGSVF) attributes the wider than expected second quarter net loss to lower sales of Pure Gold Mining Inc. this year compared to last year. The company ended the second quarter with cash and cash equivalent of $36.6 million.

Mining Activities

Despite the massive loss the company’s chief executive officer, Bruce McLeod says they achieved a lot as they continued to advance the Back River project through basic engineering and optimization studies.

During the quarter, the company completed its first phase exploration drilling program at the Goose property.

“In addition, the exploration success we had at the Goose Project this spring has provided opportunities to extend the mine life of the project. In particular, grades at the Vault Zone are more than double the average grade of the Back River resource and could offer opportunities to positively impact Project economics,” said Mr. McLeod.

Following the successful first phase exploration program, SABINA GOLD&SILVER COM NPV (OTCMKTS:SGSVF) intends to expand its summer drilling program, focus this time being on the Vault zone.

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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

ENUMERAL BIOMEDICAL COM USD0.001 (OTCMKTS:ENUM) Winding Down Operations

ENUMERAL BIOMEDICAL COM USD0.001 (OTCMKTS:ENUM)

ENUMERAL BIOMEDICAL COM USD0.001 (OTCMKTS:ENUM) rallied 6.35% after reporting second quarter financial results and affirming plans to pursue a range of strategic transactions for the sale and disposition of its assets. The company is in the process of winding down its operations having hit rock bottom in terms of cash needed to continue operating as a going concern.

Financial Woes

The curtain is closing down on ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM) after a poor run in the stock market in recent months. The stock opened the year at $0.15 a share before rallying to highs of $0.19 a share in March. Ever since, the stock has been trading in a downward trend as investors continue to question its long-term prospects.

The company is winding down its business, Net loss having soared to highs of (-$3.13) million compared to a net loss of ($1.3) million reported last year.

ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM) cash balance has tanked from highs of $3.16 million as of the end of last year to current lows of $576,307. The lack of sufficient funds means the company cannot be able to finance its day to day operations prompting the winding down of business.

“As the Company winds down its operations, it continues to consider possible transactions pursuant to which Enumeral may sell its remaining assets […]. If Enumeral is unable to effect one or more such transactions, the Company may be compelled to commence liquidation or bankruptcy proceedings.” Enumeral in a statement.

Q2 Results

The company finds itself in the current mess after consecutive quarters of losses. Revenue in the second quarter decreased by $1.3 million to $189,741. Enumeral Biomedical attributes the decrease to a license agreement with Pieris Pharmaceuticals Inc. (NASDAQ:PIRS) and a study agreement with Merck.

ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM) will not carry any study agreement with Merck & Co., Inc. (NYSE:MRK) having already terminated its research and development function. The company has also sold its laboratory equipment. Research and development expenses in the quarter was down by $357, 463 due to a decrease in payroll and personal expenses because of lower headcount.

Winding down expenses in the quarter came in at $1.1 million associated with the extinguishment of restricted cash in connection with the operating lease. ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM) also incurred losses on the auction of its laboratory equipment.

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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Is the Trend Reversing for Tandem Diabetes Care Inc (NASDAQ:TNDM)

Tandem Diabetes Care Inc (NASDAQ:TNDM)

Tandem Diabetes Care Inc (NASDAQ:TNDM) stock jumped over 37% in today’s trading to end the Tuesday’s session at $0.75 for a gain of over $0.20. Volume was more than five times the publicly listed daily average.

Tandem Diabetes stock chart:

Tandem Diabetes Care Inc (NASDAQ:TNDM)
One month stock price chart for TNDM

 

The market responded strongly, and favorably, to the company’s announcement that enrollment had begun for an at-home pivotal trial designed for its t:slim X2™ Insulin Pump using Tandem’s predictive low glucose suspend (PLGS) technology. The insulin pump system, utilizing an integrated Dexcom G5® Mobile Continuous Glucose Monitor (CGM), is designed to suspend insulin delivery when low blood glucose is forecast and subsequently resume insulin delivery when glucose levels start to increase.

Tandem Diabetes Care Inc (NASDAQ:TNDM)’s PROLOG (PLGS for Reduction Of LOw Glucose) study is a multi-center, randomized crossover study comparing two 3-week periods of at-home insulin pump use. One period will employ the t:slim X2 Pump with PLGS while the other period will use a standard CGM-integrated t:slim X2 Pump without automated insulin suspension. The clinical trial will include 90 participants that are afflicted with type 1 diabetes with a minimum age of six years of age. The study will be conducted at five research centers across the United States and is being coordinated by the Tampa, FL-based Jaeb Center for Health Research. The primary endpoint of the study is to demonstrate a reduction in the percentage of CGM values below 70 mg/dL when using Tandem’s PLGS algorithm.

Monday morning, TNDM stock was trading around $0.45, just $0.06 above their 52-week low, then the shares took off and gained over 66% by end of trading today. However, the shares are still down 65% YTD and down over 88% for the year. Sales have steadily increased since 2012 when Tandem Diabetes Care Inc (NASDAQ:TNDM) posted a sales number of $2.5 million, by 2016 that figure had increased to $84.2 million. Since 2014 the per share loss has been fairly consistent. In 2014 the per share loss was (-$3.42) and by 2016 the per share loss was (-$2.73).

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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

OXIS International, Inc. (OTCMKTS:OXIS) Stock Explodes On Merger Talk And Pipeline Of Drugs

OXIS International, Inc. (OTCMKTS:OXIS)

OXIS International, Inc. (OTCMKTS:OXIS) stock was up by 60.98% in Monday’s trading session as investors await an upcoming conference where the company plans to discuss its oncology and central nervous system drugs. More than 300 companies will attend the conference scheduled for September 10 to September 12 at the Lotte New York Palace Hotel.

OXIS Stock Price Chart:

OXIS Stock
One month price chart for OXIS stock

Shares of OXIS International, Inc. (OTCMKTS:OXIS) are up by more than 100% since the end of July and currently trading at the higher end of $06 – $0.09 trading range. The stock’s impressive run, which began last month, faces a major test at the $0.10 a share mark, which is acting as a key resistance level. Above the $0.10 mark, the stock could rally to highs of $0.20 a share.

OXIS International, Inc. (OTCMKTS:OXIS) is an immuno-oncology company focused on the treatment of cancer and other unmet medical needs. Its candidate drug is 0XS-1550 designed to target cancer cells expressing the CD19 receptor or CD22 receptor.

Fuelling the bullish momentum on OXIS International, Inc. (OTCMKTS:OXIS) stock is the pending merger with GT BioPharma and Georgetown Translational Pharmaceutical. The merger will result in a combined company that combines Oxis promising oncology drugs as well as GT BioPharma central nervous systems drugs. The deal should close before September 30, 2017.

“The merger of GT BioPharma, Inc. (Oxis) and GTP will greatly accelerate the clinical development of exciting new treatments to meet the medical needs of those suffering from cancer and neurologic diseases,” said CEO Dr. Clarence-Smith.

OXS-1550 Development

OXIS International, Inc. (OTCMKTS:OXIS) in partnership with Europe Paris Oxis has confirmed the enrollment of four patients as part of a Foods and Drug Administration approved Phase 2 Clinical trial of 0XS-1550. The trial is currently being conducted by the University of Minnesota’s Masonic Cancer Center.

Researchers at the university have already completed a Phase 1 trial of the promising cancer therapy where they ascertained safety and effective dosage. Phase 2 trial results are slated for release sometime in the first quarter of 2018.

“The product performed well in Phase 1 studies of blood cancers and we look forward to providing a targeted immunotherapy product that has the capability of treating a number of different liquid tumors,” said Anthony Cataldo, Executive Chairman of GT BioPharma.

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 $OXIS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Chiasma Inc (NASDAQ:CHMA) Stock Moved by FDA News

Chiasma Inc (NASDAQ:CHMA)

Chiasma Inc (NASDAQ:CHMA) shares were up over 32% on Friday despite having announced a loss in their Q2 2017 financial release. The market responded forcefully to the news that Chiasma reached an agreement with the U.S. Food and Drug Administration (FDA) on the design of a new Phase 3 clinical trial for its octreotide capsules product candidate –  provisionally trade-named Mycapssa. Mycapssa is being developed for the maintenance therapy of adult patients with acromegaly, a hormonal disorder.

Chiasma Stock Chart:

Chiasma Inc (NASDAQ:CHMA)
One month stock price chart for CHMA

The agreed-upon study is designed to address the concerns previously raised in the FDA’s Complete Response Letter (CRL) and was reached through Special Protocol Assessment (SPA) with the FDA’s Division of Metabolism and Endocrinology Products. A Special Protocol Assessment (SPA) is a process by which an applicant and the FDA reach an agreement on the protocol design, endpoints and analysis of a Phase 3 clinical study prior to initiation, in order to determine if the study adequately addresses scientific and regulatory requirements for FDA approval.

The trial, referred to as “OPTIMAL”, is a randomized, double-blind, placebo-controlled, nine-month trial in 50 adult acromegaly patients (at least 20% of whom must be recruited from the United States). OPTIMAL utilizes levels of insulin-like growth factor, IGF-1, as the sole primary endpoint measure Chiasma Inc (NASDAQ:CHMA) believes the trial is adequately powered to assess maintenance of biochemical control with octreotide capsules compared to placebo in adult acromegaly patients who previously demonstrated biochemical control on somatostatin receptor ligand injections. The Company anticipates release of top-line data from this new Phase 3 clinical trial by the end of 2019.

For Q2 2017, Chiasma Inc (NASDAQ:CHMA) reported a net loss of (-$6.9) million, or (-$0.28) per share. In Q2 2016, Chiasma reported a net loss of (-$26.7) million, or (-$1.10) per share. Q2 R&D  expenses were $4.3 million versus $14.8 million for the same period in 2016. The decrease was primarily due to approximately $7.4 million of non-recurring API purchases and pre-commercial manufacturing validation activities in 2016. There were also reduced compensation-related costs. There was also a Q2 drop of $0.8 million in clinical trial costs compared with Q2 2016.

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 $CHMA and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) Stock Continues Trend

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ)

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) stock plunged 12.50% in Thursday’s trading session as investors reacted to a disappointing second quarter earnings report. A net loss of (-$27.5) million compared to (-$17.5) million reported a year earlier appears to have spooked the market thus fuelling the sell-off wave.

One month Aralez stock chart:

Stock Performance

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) stock is currently trading at all-time lows after disappointing Q2 earnings. The stock has  been on a strong downtrend since late last year.

The stock currently has a negative net margin of 133.92% and a negative return on equity of 66.74%. A number of analysts have already initiated coverage of the stock with the majority of them rating the stock as a ‘sell’. ValuEngine lowered its rating on the stock to a ‘strong sell’ from a ‘sell’.

Aralez Pipeline

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) is a global specialty pharmaceutical focused on the delivery of meaningful products for improving patients’ lives. The company generates shareholder value by acquiring, developing and commercializing products in cardiovascular, pain and other specialty areas. Its lead products include Fibricor, Cambia Fiorinal, and Fiorinal C.

During the second quarter, Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) announced the commercial launch of Zontivity which is indicated for the treatment of peripheral artery disease in patients with a history of post-myocardial history. A team of 75 sales representative is currently marketing the drug

“We are also delighted with the strength of the early launch metrics for Zontivity® and are pleased that, within weeks of our national launch we have already reached all-time high prescription levels,” said CEO Adrian Adams.

Cost Saving Push

Aralez reported revenues of $27.6 million for the second quarter up from $12.6 million reported a year earlier. The cost of product revenue dropped to $2.9 million from $3.4 million because of $0.8 million in inventory step-up costs associated with the Tribute merger.

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) restructuring is gaining traction as the company continues to explore ways of reducing its costs of operations. In the second quarter, the company reduced its U.S sales force by 32% having also implemented a cost savings program designed to preserve financial flexibility. The company exited Q2 with $55 million in cash and cash equivalent which it says is sufficient to finance operations over the next 12 months.

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 $ARLZ and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Cableclix USA Inc. (OTCMKTS:CCLX) Unveils Groundbreaking Online TV Software Solution

Cableclix USA Inc. (OTCMKTS:CCLX)

Cableclix USA Inc. (OTCMKTS:CCLX) stock was a big mover in Wednesday’s trading session after unveiling a groundbreaking software that addresses apps and hardware deficiencies in the delivery of content from a number of providers online. Cableclix stock was up by 17.56% to end the day at $0.0241 a share. The rally came just days after the company was plunged into uncertainty with the resignation of founder and chief technical officer Mark Bayliss.

Cableclix USA Inc. (OTCMKTS:CCLX)
One month Cableclix stock price chart

Cableclix’s Online TV App

Cableclix USA Inc. (OTCMKTS:CCLX) is a leading developer of hardware and software chord-cutting solutions for the online TV streaming market. The company offers over-the-air high definition network broadcasts, free to air, and paid content over private networks owned by ISPs.

The company’s latest innovation is a software that addresses pain points that come into being with the use of too many separate apps and confusing interfaces to access content. Cableclix USA Inc. (OTCMKTS:CCLX) app is designed to introduce new content across a number of providers from a single platform.

The groundbreaking software solutions combine big data with Artificial Intelligence to enhance personalization of TV content. The company also uses machine learning to capture valuable data that tracks in real time, changing viewer behavior in the online TV streaming market.

Cableclix USA Inc.(OTCMKTS:CCLX) new app is currently being alpha tested by end users ahead of its launch on AppleTV that currently serves over 23 million US. Users. There are plans to widen the availability of the app to include other larger platforms such as Roku and Google Chromecast

The new machine learning powered solution should accord users an opportunity to discover and access content with ease.

“Viewers are savvy users now and demand more from their online TV viewing experience […]. CableClix focus on software enables us to gain those key user insights from user habits – a core objective of the business – in a far more fluid and adaptable way than hardware could,” said Cauri Jayen CableClix Chief Product Officer.

Cableclix CTO Resignation

Separately, Cableclix USA Inc. (OTCMKTS:CCLX)’s Chief Technical Officer has stepped down after being found liable of communicating the company’s official business with the market through social media. Following his resignation, the company is currently identifying all corporate assets and intellectual property under his possession with a view of recovering them.

“A full legal examination of his decision to use public forums to express his editorial views will begin immediately and CableClix will disclose the final terms of Mr. Bayliss’ departure at an appropriate time,” Cableclix USA Inc. (OTCMKTS:CCLX) in a statement.

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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Singlepoint Inc (OTCMKTS:SING) Did What?!

Why Singlepoint Inc (OTCMKTS:SING)

Shares of Singlepoint Inc (OTCMKTS:SING) declined 5.6% to $0.034 in the last session amid heavy volume trading. About 29.6 million shares were traded on the day, which was significantly higher than the average daily volume of 15.5 million.

Singlepoint Inc (OTCMKTS:SING)
Singlepoint one month stock price chart

The plunge in the stock followed an announcement by Singlepoint that it had made a block purchase of digital currency called $Weed from one of its joint venture partners.

Despite the decline, Singlepoint Inc (OTCMKTS:SING) has made tremendous gains this year. At the last session’s close, the stock had risen 211.9% since the beginning of the year and more than 200% over the last 12 months.

Large block purchase of $Weed

Singlepoint Inc (OTCMKTS:SING) said it purchased $Weed from its joint venture partner First Bitcoin Capital (OTCMKTS:BITCF). It described it as a “large block purchase” from a crypto industry leader. But Singlepoint didn’t disclose how much it invested toward the purchase. This may have tempered with investor confidence in the stock as some investors may have worried whether Singlepoint was making a sound investment in the crowded and volatile cryptocurrency market.

Nevertheless, Singlepoint Inc (OTCMKTS:SING) said its purchase of $Weed would go a long way into helping solve payment problems that vendors and consumers encounter in the cannabis industry. Additionally, SinglePoint pointed out that $Weed has a bright future, citing the successful floating of the currency in the “booming Cryptocurrency markets”.

According to Singlepoint Inc (OTCMKTS:SING), $Weed recently completed an ICO (Initial Coin Offering), resulting in a market capitalization of about $60 million for the new digital currency. ICO is an unregulated means by which new cryptocurrency ventures raise funds by selling a fraction of the currency to investors in exchange for regular currencies or other cryptocurrencies – such as Bitcoin.

Consumer first approach

The $Weed has already been listed in three cryptocurrency exchanges and First Bitcoin Capital is planning to list it on more exchanges in the near future. SinglePoint observed that the listing of $Weed in additional exchanges would increase interest in the currency to the levels of its peers such as PotCoin.

SinglePoint said it will work with First Bitcoin Capital to rapidly drive consumer interest in $Weed in what it described as “consumer first approach”. This approach will incorporate several programs, such as special offers, loyalty and the ability to monitor purchasing habits to help build a valuable database for the cannabis industry.

While shares of Singlepoint Inc (OTCMKTS:SING) plunged in the wake of the $Weed investment announcement, shares of its joint venture partner First Bitcoin Capital soared 10.8% to $0.46 in the last session.

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 $SING and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Cellectar Biosciences Inc (NASDAQ:CLRB) Volumes Explode

Cellectar Biosciences Inc (NASDAQ:CLRB)

Cellectar Biosciences Inc (NASDAQ:CLRB) stock was up over 20% in early trading after the clinical-stage, oncology-focused, biotech company announced its lead PDC compound, CLR 131 has achieved a median 22.5 month survival rate, to date, after a single dose infusion of 12.5mCi/m2 in patients with multiple myeloma. The Madison, WI-based company closed Monday’s trading at $1.58, then gapped up to open at $1.95 before settling back into trading around $1.88 as of 9:50AM EST. Volume for the biotech stock has increased massively if today’s trend holds. Normally thinly traded, CLRB has a listed average volume figure of 92,000. However by 10AM EST over 3.7 million shares of the company had exchanged hands. One month price chart for Cellectar stock:

Cellectar Biosciences Inc (NASDAQ:CLRB)
One month Cellectar stock price chart

Cellectar Biosciences Inc (NASDAQ:CLRB), formerly known as Novelos Therapeutics, Inc., develops targeted phospholipid drug conjugates (PDCs) for cancer treatment and imaging. Cellectar’s lead product candidate is CLR 131. CLR 131 is being developed for the treatment of relapse or refractory multiple myeloma and is currently in Phase 1 trials (described above). CLR 131 is also in Phase II clinical trials for the treatment of B-cell malignancies. Cellectar is also developing CLR 125 and CLR 124 – both candidates for cancer treatments in different indications. Lastly, the company is developing CLR 1601-PTX, CLR 1602-PTX, and CLR 1603-PTX – all in pre-clinical research for the treatment of chemotherapy.

YTD, Cellectar Biosciences Inc (NASDAQ:CLRB) stock is up over 30% but is down for the year by over 35%. Shareholders have been experiencing losses annually but the losses have been shrinking year-on-year. In 2012, the per share loss was (-$45.43). That loss contracted every year and in 2016 the per share loss was just (-$1.36). However, in 2016 the company massively diluted its shareholders. In 2015 780,000 shares were outstanding. In 2016 that number grew to 4.54 million. Analysts have a consensus price target on CLRB of $3.10.

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.

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

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.