Monica Gray

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.
Catalyst Biosciences Inc (NASDAQ:CBIO) shares have come off their early morning high of $9.00, bounced off $5.50 level and now trading above $6 handle.

Infinera (NASDAQ: INFN) Up 17%: CEO Predicts Revenue Growth to Continue

Infinera Corp. (NASDAQ:INFN) reported better-than-expected financial results in the fourth quarter of 2017.
At time of writing INFN was up $1.84 to $8.76. That’s just off the morning high of $8.94. Volume is a record 7.02mm.

The company reported net loss on a GAAP basis of $74.0 million or a loss of 50 cents per share against net income of $36.3 million or 25 cents in the year-ago quarter. Infinera’s adjusted loss of 12 cents was narrower than the Zacks Consensus Estimate of a loss of 13 cents.

Total revenues were $195.8 million, up 8.2% year over year and above the Zacks Consensus Estimate of $189.8 million. Segment-wise, product revenues were $160.54 million, up 6.1% year over year. Services revenues increased 18.9% to nearly $35.27 million. Domestic revenues contributed 53% to the total revenues, while the remaining 47% was generated from international markets.

Total operating expenses were $117.79 million, up from $114.90 million in fourth-quarter 2016.

As of Dec 31, 2017, Infinera’s cash from operations was a negative $21.93 million compared with $38.38 million at the end of 2016.

At the end of December 2017, INFN had $116.35 million of cash and cash equivalents compared with $162.64 million at the end of 2016. The company had no debt against debt of $133.59 million at the end of 2016.

The company continues to face stiff competition from peers like Lantronix, Extreme Networks, NETGEAR NTGR and Brocade Communications Systems in the digital optical networking market.

However, Infinera’s strategic business moves which include launches and alliances look impressive. Different network service providers are merging with the company for the deployment of the Infinera Cloud Xpress, regionally and globally, to reach out to customers with higher scalability and reliability. In November 2017, online streaming service provider, Netflix NFLX , deployed the Infinera Cloud Xpress 2 to expand delivery capacity for streaming videos.

Further, Infinera (NASDAQ:INFN)collaborated with CenturyLink CTL to deliver 2.5 terabits per second of capacity to connect research and education community around the world, leveraging the CenturyLink core network.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company’s product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; and Infinera DTN platform that supports various Ethernet and optical transport network client interfaces for long-haul, subsea, and regional mesh networks. It also provides Infinera XTM Series carrier-grade packet-optical transport platform that enables high-performance metro networks with service-aware, application-specific capabilities; Infinera XTG Series that is a family of passive optical wavelength-division multiplexing products for metro access applications; and Infinera Cloud Xpress Family multiple platforms that are designed to meet the varying needs of cloud service providers, Internet content providers, Internet exchange service providers, enterprises, and other large-scale data center operators

Jaguar Health Inc. (NASDAQ:JAGX)

Seattle Genetics (SGEN) to Acquire Cascadian Therapeutics (CASC) for $10/Share

Seattle Genetics, Inc. (Nasdaq: SGEN) and Cascadian Therapeutics, Inc. (Nasdaq: CASC) today announced the signing of a definitive merger agreement under which Seattle Genetics has agreed to acquire Cascadian Therapeutics. Under the terms of the agreement, Seattle Genetics will pay $10.00 per share in cash, or approximately $614 million. The transaction was unanimously approved by the Boards of Directors of both companies.

Cascadian Therapeutics’ most advanced program is tucatinib, an investigational oral, small molecule tyrosine kinase inhibitor (TKI) that is highly selective for HER2, a growth factor receptor that is overexpressed in multiple cancers, including breast, colorectal, ovarian and gastric. Tucatinib is currently being evaluated in a randomized global pivotal trial called HER2CLIMB for patients with HER2-positive (HER2+) metastatic breast cancer, including patients with or without brain metastases. Tucatinib has been evaluated as a single agent and in combination with both chemotherapy and other HER2-directed agents including Herceptin® (trastuzumab) and Kadcyla® (trastuzumab emtansine). Results from phase 1b trials showed that the combination of tucatinib, capecitabine and trastuzumab was generally well-tolerated and demonstrated clinical activity in patients with and without brain metastases. The data support the ongoing pivotal trial and the potential role of tucatinib in earlier lines of metastatic breast cancer.

“This acquisition would enhance our late-stage clinical pipeline with a potentially best-in-class, orally available and highly selective TKI for patients with HER2-positive metastatic breast cancer,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “Tucatinib would complement our existing pipeline of targeted cancer therapies, provide a third late-stage opportunity for a commercial product in solid tumors and expand our global efforts in breast cancer. It also leverages our broad expertise and resources to advance and expand the tucatinib program for patients. Beyond breast cancer, we believe there may be opportunities for tucatinib in other tumor types, such as HER2-positive metastatic colorectal cancer. Cascadian’s pipeline also includes a preclinical immuno-oncology agent. We look forward to welcoming the team at Cascadian Therapeutics (Nasdaq: CASC) and continuing the momentum of the tucatinib development program.”

AURORA CANNABIS IN (OTCMKTS:ACBFF)

CLS Holdings USA (OTCMKTS:CLSH) Receives a Notice of Allowance from the U.S. Patent Office.

Shares of CLS Holdings USA Inc. (OTCMKTS:CLSH) are trading higher in the wake of the company announcing that it has received a notice of allowance from the U.S. patent office for its proprietary extraction and conversion methodology.

The proprietary extraction process differs from others that typically use ethanol, supercritical CO2 or butane. The resulting finished product is cleaner and provides for more Delta 9 THC. The Company intends to deploy its proprietary extraction and conversion technology upon completion of its pending acquisition of Oasis Cannabis. Additionally, the Company will look to license its patented extraction process.

Jeff Binder, Chairman and CEO of CLS, stated, “Extraction is a very important and valuable process as the quality and value of the finished product is largely impacted by the quality of its extraction. We are focused on increasing yields and the quality of yields and feel our process gives us a major leg up relative to others in the industry. We have dedicated considerable amounts of resources to this endeavor and to receive this allowance from the US patent office is a milestone for the company. I am truly appreciative of all the efforts and contributions of our team and wish to personally thank our chief scientist and co-founder, Ray Keller.”

Stock Analysis

A push by the company to strengthen its cannabis production capabilities appears to have strengthened investors’ confidence on its long-term prospects. The stock is currently trading in an uptrend after gaining more than 50% in response to recent positive news.

For the full year, CLS Holdings USA Inc. (OTCMKTS:CLSH) is up by more than 80%. Given the strength of the upward momentum, the stock should be able to register a new 52-week high as it is currently trading in tight $0.64 to $0.69 range. Lower immediate support looks to be the $0.45 mark. CLS Holdings USA Inc. (OTCMKTS:CLSH) should close the year on the high as it continues to affirm plans to double its cannabis growth production capacity.

Recent Oasis Cannabis Acquisition News

Oasis is an exciting acquisition target as it is set to expand CLS Holdings USA Inc. (OTCMKTS:CLSH) footprint in the business of growing, extracting and processing cannabis products for retail. The company comes into the deal with a growing, conversion and extraction facility that produced $150,000 in gross revenue last month.

The acquisition should be of great benefit to CLS Holdings on the fact that Oasis already generates revenues and has permits to operate dispensaries and deliver products to end consumers.
The parent company also stands to use its proprietary extraction methods to increase the yields from Oasis grow and cultivation businesses. CLSH may also scale Oasis retail business by opening franchises throughout Nevada as well as in other states that have approved marijuana sale.

In addition, the company’s cash balance destined to receive a significant boost upon the closing of the definitive acquisition agreement given that Oasis dispensary serves over 300 customers on a daily basis.
“Since we began this process to acquire Oasis Cannabis a couple of months ago, we have witnessed firsthand its growth and traction in visitors and revenue. We are very pleased with the trends at its grow and retail dispensary and are enthusiastic to move forward to an anticipated closing in the first quarter of 2018,” said CEO, Jeff Binder.

Management Appointment

The appointment of, David Lamadrid, as the President and Chief Financial Officer appears to have strengthened investor confidence in CLS Holdings USA Inc. (OTCMKTS:CLSH). He joins the company with vast experience in management and finance required to lead the firm through the next phase of growth.

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

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CASI Pharmaceuticals Inc. (NASDAQ:CASI)

Cellectar (NASDAQ: CLRB) Jumps 34% on Expansion of Phase 2 Trial

Cellectar Biosciences (NASDAQ: CLRB), a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, today announces that the company will increase the targeted patient enrollment in the relapsed/refractory (R/R) multiple myeloma (MM) cohort of its currently enrolling Phase 2 clinical trial of CLR 131. Data from the MM cohort of the study demonstrated that the treatment exceeded pre-specified criteria for clinically meaningful benefit. As a result, the cohort will be expanded up to as many as 40 patients.

About the Phase 2 Study of CLR 131
The Phase 2 study is being conducted in approximately 10 leading cancer centers in the United States for patients with relapsed or refractory B-cell hematologic cancers.

About CLR 131
Cellectar (CLRB) developed CLR 131 as an investigational compound under development for a range of orphan designated cancers. It is currently being evaluated as a single-dose treatment in a Phase I clinical trial in patients with R/R MM as well as in a Phase II clinical trial for R/R MM and select R/R lymphomas with either a one- or two-dose treatment. Based upon preclinical and interim Phase I study data, treatment with CLR 131 provides a novel approach to treating solid and hematological tumors and may provide patients with therapeutic benefits, including overall survival, an improvement in progression-free survival, surrogate efficacy marker response rate, and overall quality of life.

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.

Cytori Therapeutics Inc. (NASDAQ:CYTX)

Cytori Therapeutics Inc. (NASDAQ:CYTX) Posts Positive Study Results

Cytori Therapeutics Inc. (NASDAQ:CYTX)

Cytori Therapeutics Inc. (NASDAQ:CYTX) fell 9.1% in after-hours trading following an announcement concerning a reduction in Fibrosis parameters in a scar study using its cell therapy. The study was performed as a preclinical proof of concept in partnership with the Biomedical Advanced Research and Development Authority.

Cytori Therapeutics Inc. (NASDAQ:CYTX)

Scar Study Results

During the pre-clinical trials Adipose-Derived Regenerative Cells, an active component of Cytori Therapeutics Inc. (NASDAQ:CYTX), was injected into deep partial thickness wounds in a porcine model. Six months after injection, wounds treated with ADRCs showed a significant reduction in parameters associated with hypertrophic scarring.

Some of the parameters improved by Cytori Therapeutics Inc. (NASDAQ:CYTX) cell therapy include skin hardness, organization, vascularity and discoloration. Impressed by the results, the therapeutics company plans to carry out a RELIEF trial to assess the therapy in human patients with substantial thermal burn injury. The trial will also evaluate several scar-related parameters.

Treatment of thermal burns is a critical unmet medical need as patients often suffer from pain, scarring and skin contracture on using standard care.

Fibrosis is a common factor in both burns and scleroderma.” said Dr. John Fraser, Chief Scientist at Cytori Therapeutics Inc. (NASDAQ:CYTX). “This preclinical study is consistent with a number of emerging studies indicating a beneficial effect of Cytori ADRC technology in fibrotic disease.”

CYTX Stock Performance

Cytori Therapeutics Inc. (NASDAQ:CYTX) is currently trading in a downtrend, after reporting a third-quarter net loss that appears to have spooked investors. The therapeutics company focused on regenerative and oncologic therapies has underperformed the overall industry this year. The stock is down by more than 70% as it continues to trade near its 52-week low of $0.28 a share.

Investor confidence in the stock has taken a hit on the company reporting revenues of $1.8 million for the third quarter, down from $2.6 million reported last year. Revenue for the first nine months of the year also dropped to $4.9 million from $8.4 million as of last year.

Net loss for the three months ended September 30, 2017, dropped to (-$4.8) million or (-$0.14) a share, compared to (-$5.4) million or (-$0.26) a share reported last year. Cash burn in the quarter stood at $4 million compared to $4.6 million. Cytori Therapeutics Inc. (NASDAQ:CYTX) expects the cash burn for the full year to be slightly lower at between $17 million and $19 million compared to $20 and $23 million as of last year.

Cytori Therapeutics Inc. (NASDAQ:CYTX) plans to pursue a meeting with the U.S. Food and Drug Administration to determine the next step required for regulatory approval of Habeo Cell Therapy for scleroderma-associated hand dysfunction. The company also plans to begin patient enrollment for RELIEF burn clinical trial.

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 $CYTX 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.

Heat Biologics Inc. (NASDAQ:HTBX)

This Is Why Heat Biologics Inc. (NASDAQ:HTBX) Dropped 16%

This Is Why Heat Biologics Inc. (NASDAQ:HTBX)

Shares of Heat Biologics Inc. (NASDAQ:HTBX) fell 16.9% after the biopharmaceutical company priced 5.8 million shares, for a common stock offering. The company has priced the offering at $0.43 a share, slightly below the stock’s current price.

Heat Biologics Inc. (NASDAQ:HTBX)

In addition, the company has granted underwriters a 45-day option for the purchase of up to 872,093 shares of common stock at the public offering price. The company expects gross proceeds of approximately $2.5 million before deduction of underwriting discounts and commissions. The offering should close on or about November 21, 2017.

Heat Biologics Inc. (NASDAQ:HTBX) plans to use the net proceeds from the offering to fund its subsidiaries’ pre-clinical and clinical programs and for working capital and general corporate purposes.

HTBX Investor Reaction

News of the public offering did not go well with current investors as it will dilute their current holdings even though the company tries to use it to shore up its balance sheet. Investors’ confidence in the stock is dropping and threatens to push Heat Biologics Inc. (NASDAQ:HTBX) to its 52-week low of $0.41 a share. Heat Biologics has underperformed the overall industry and is currently down by more than 40% for the year

Despite the underperformance, Griffin analyst Keith Markey remains bullish about the stock’s long-term prospects. The analyst has a ‘buy’ rating on the stock with a share price target of $2.25. The price target represents an upside potential of more than 270%.

“Heat Biologics has developed a T cell activation platform (TCAP) to initiate or enhance an immune attack against solid tumors. [..]As such, we view the Company’s immunotherapies to be far more sophisticated than “vaccines” that also use an antigen-based approach to stimulate the immune system,” said Mr., Markey.

Heat Biologics Q3 Financials

Separately, Heat Biologics Inc. (NASDAQ:HTBX) reported a wider than expected net loss of (-$2.3) million or $0.06 a share, compared to a net loss of (-$1.6) million reported last year. Research and development expense increased 8% to $1.8 million primarily due to Chemistry Manufacturing and Control activities.

During the quarter, the company signed a manufacturing agreement with KBI Pharma that will advance the development of its cancer targeting immunotherapies.

“We had a very productive third quarter, as we achieved a number of important milestones,” said Jeff Wolf, CEO of Heat. “We signed a critical manufacturing agreement to further advance our co-stimulatory programs, and we were also granted a Type C meeting with the FDA to review our Phase 2 clinical trial using our HS-110 for the treatment for non-small cell lung cancer

Heat Biologics Inc. (NASDAQ:HTBX) exited the quarter with cash and cash equivalent of approximately $4.3 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.

Don’t miss out! Stay informed on $HTBX 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.

Arca Biopharma Inc. (NASDAQ:ABIO)

Arca Biopharma Inc. (NASDAQ:ABIO) Awarded European Patent

Arca Biopharma Inc. (NASDAQ:ABIO)

Arca Biopharma Inc. (NASDAQ:ABIO) traded higher after the European Patent Office granted it a patent on methods for treating cardiovascular disease with a thiol-substituted isosorbide mononitrate. Shares of the company gained 20.83% to end Thursday’s trading session at $1.45 a share.

Arca Biopharma Inc. (NASDAQ:ABIO)

ABIO Stock Performance

Thursday’s rally capped yet another impressive run as the stock continues to bounce back from yearly lows. Arca Biopharma Inc. (NASDAQ:ABIO) has shed more than 40% in market value since the start of the year as short sellers continue to apply pressure. The stock is currently trading in a downtrend and faces immediate resistance at $1.60.

The new European Patent appears to have revitalized investors’ confidence in the stock. Titled Methods of and Compositions for Cardiovascular Disease and Conditions, the patent provides protection for Arca Biopharma Inc. (NASDAQ:ABIO) approach for treating patients with cardiovascular diseases and conditions.

AB171 Development

The biopharmaceutical company has discovered what it believes is a pharmacogenetic target for AB171, which can be used in genetically targeted cardiovascular development programs. ARCA plans to advance the development of AB171 for the treatment of peripheral arterial disease and for chronic heart failure.

“The addition of AB171 to our genetically-targeted development pipeline, including the Gencaro atrial fibrillation-heart failure program, is consistent with that mission. We believe our experience with GENETIC-AF has established the feasibility of in-house design and execution of pharmacogenetic clinical trials, and has provided invaluable insights into this type of drug development,” said CEO, Michael Bristow.

Arca Biopharma Inc. (NASDAQ:ABIO) expects top-line results on a Phase 2B Genetic-AF trial in the latter part of the first quarter of 2018. The Phase 2B trial will be investigating the safety and efficacy of Gencaro to Toprol-XL for the treatment and prevention of atrial fibrillation or heart flutter.

“We are focused on executing our genetically-targeted approach to cardiovascular drug development and look forward to furthering our development of Gencaro as well as initiating additional pharmacogenetic development programs..,” said Mr. Brostow.

Arca Q3 Financial Results

Separately, Arca Biopharma Inc. (NASDAQ:ABIO) reported a net loss of (-$4.4) million or (-$0.39) a share, for the three months ended September 30, 2017. Net loss for the first nine months of the year came in at (-$14.3) million compared to a net loss of (-$12.2) million for the corresponding period last year. Research and development expenses for the quarter totaled $3.5 million compared to $3.7 million for Q3 2016.

Arca Biopharma Inc. (NASDAQ:ABIO) exited the quarter with cash and cash equivalent of $16 million compared to $23.5 million as of December 31, 2016. The cash balance is sufficient to fund operations and projected cost structure through the end of the second 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 $ABIO 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.

Egalet Corp (NASDAQ:EGLT)

Egalet Corp (NASDAQ:EGLT) Moves on Topline Trial Results

Egalet Corp (NASDAQ:EGLT)

Egalet Corp (NASDAQ:EGLT) was a big mover after announcing top-line trial results from a phase 3 safety study of its abuse-deterrent oxycodone formulation Egalet-002. Shares of the company gained 38.55% after it emerged the formulation was well tolerated, and adverse events reported were consistent with expected outcomes.

Egalet Corp (NASDAQ:EGLT)

Egalet-002 Top Line Results

According to the Chief Executive Officer, Bob Radie, the positive Phase 3 safety study results validates the company’s Guardian technology, which is being used to develop abuse-deterrent formulations of prescription medications.

Last year, Egalet Corp (NASDAQ:EGLT) reported positive top-line result from a category 3 intranasal human abuse potential study of Egalet. The formulation is currently in late-stage development for the management of pain severe enough to require daily, long-term opioid treatment for which other treatment options are inadequate.

Despite the 38% rally, Egalet Corp (NASDAQ:EGLT) continues to trade in a downtrend after underperforming the overall industry for the better part of the year. The stock has shed more than 80% in market value since the start of the year and is currently trading near all-time lows. Shares of the company closed at $1.15, last year they were trading at $5.58 a share.

Despite the underperformance, the Chief Executive Officer remains bullish about the company’s long-term prospects as they move to address the prescription abuse crisis.

“With 124% prescription growth and 41% revenue growth for our marketed products over last year’s third quarter, we continue to grow our business With a cash position of $102.1 million and the increased focus on non-narcotic and innovative treatments to alleviate pain,” said Mr. Radie

For the three months ended September 30, 2017, Egalet Corp (NASDAQ:EGLT) registered a 101% increase in Nasal Spray prescriptions over the third quarter of 2016. The company also partnered Ascend Therapeutics to begin promotion of SPRIX Nasal Spray to over 11,000 target women healthcare providers.

Egalet Q3 Financial Results

Net product sales for the third quarter came in at $6.7 million compared to $4.7 million reported last year. Cost of sales was $1.2 million up from $914,000 as of last year and reflected the average cost of inventory produced and dispensed to patients. General and Administrative expenses dropped to $6.8 million from $8 million as of the corresponding period last.

Egalet Corp (NASDAQ:EGLT) generated a net loss of (-$18.9) million in Q3 2017 or (-$0.46) a share, compared to a net loss of (-$26.9) million or (-$1.10) reported last year. The earnings exceeded Wall Street expectations as analysts were expecting a net loss of (-$0.47) cents a share. The integrated specialty pharmaceutical company exited the quarter with cash and cash equivalent of $102.1 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.

Don’t miss out! Stay informed on $EGLT 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.

CASI Pharmaceuticals Inc. (NASDAQ:CASI)

CASI Pharmaceuticals Inc. (NASDAQ:CASI) Reports Narrow Q3 Net Loss

CASI Pharmaceuticals Inc. (NASDAQ:CASI)

Shares of CASI Pharmaceuticals Inc. (NASDAQ:CASI) gained 8.37% after the biopharmaceutical company reported a narrower than expected net loss for the three and nine months ended September 30, 2017. In addition, the company was able to strengthen its balance sheet through the issuance of shares to certain investors.

CASI Pharmaceuticals Inc. (NASDAQ:CASI)

Declining Net Loss

Net loss for the third quarter came in at ($1.6) million or (-$0.03) a share, compared to a net loss of (-$1.7) million reported last year. For the first nine months of the year, CASI Pharmaceuticals net loss totaled (-$5.7) million, compared to a net loss of (-$6.8) million reported last year.

CASI Pharmaceuticals Inc. (NASDAQ:CASI) attributes the decline in net loss to a decrease in non-cash compensation expense associated with stock option issuance. Clinical expenses associated with the development of the company’s lead candidate drug ENMD-2076 were also down in the quarter.

“I am pleased with our third quarter financial results. In October, we announced a $23.8 million registered direct offering, funds raised from which will be used to advance our internal pipeline and support our business development in-license activities,” said CEO Ken K. Ren.

CASI Stock Performance

Investors reacted to the declining net loss by pushing the stock up the chart. The stock is currently trading in an uptrend as it makes a push for its 52-week high of $3.18 a share. CASI Pharmaceuticals is up by more than 100% for the year, as it continues to outperform the overall industry.

Data compiled by Zacks Investment Research indicates that the stock is currently rated as a ‘strong buy’ by one analyst firm. Analysts are forecasting a 14.71% year over year increase in earnings this year compared to last year. However, the analysts expect a -6.9% earnings growth next year.

Public Offering

Separately, China’s Food and Drug Administration has granted a priority review for CASI Pharmaceuticals Inc. (NASDAQ:CASI) clinical trial application for EVOMELA for injection. Depending on the review, the company could make a clinical trial application by the end of the year.

In September, CASI Pharmaceuticals Inc. (NASDAQ:CASI) entered into agreements with certain institutional and accredited investors for the purchase of approximately $23.8 million securities in a direct offering. The company expects net proceeds of $23.3 million that is to be used to support business development activities which includes advancing clinical trial programs.

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 $CASI 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.

Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa Genetics Inc. (NASDAQ:ATOS) Q3 Earnings Disappoint

Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa Genetics Inc. (NASDAQ:ATOS) fell 4.4% as investors reacted to the company’s third quarter financial results and corporate update. The clinical stage pharmaceutical company did not report any revenue for the three months ended September 30, 2017, as it is in the research and development phase.

Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa’s Pipeline Development

Operating expenses for the quarter totaled $2.1 million and $5.6 million for the first nine months of the year. Research and development expenses in the quarter increased to $0.7 million from $0.1 million reported last year.

During the quarter, Atossa Genetics Inc. (NASDAQ:ATOS) announced preliminary results from a Phase 1 study of its lead candidate drug Endoxifen. The drug met its primary endpoint with no significant safety signal or adverse events.

Atossa Genetics is currently preparing for a Phase 2 study that will evaluate Endoxifen for the treatment of women with mammographic breast density. The study will be conducted in partnership with the Stockholm South General Hospital in Sweden.

“We are very pleased with our recent clinical progress with our Endoxifen programs. Preliminary results from our Phase 1 study show that all objectives of both our proprietary topical and oral formulations of Endoxifen have been met. We recently raised capital to support advancement of our Endoxifen,” said CEO, Steve Quay

Atossa Genetics Inc. (NASDAQ:ATOS) underperformance continued in the market following the third quarter financial results. The stock is currently languishing as it closes in on its 52-week low of $0.32 a share. The stock has shed more than 70% in market value since the start of the year. As it stands, the stock needs a new catalyst if it is to bounce back.

ATOS Public Offering Impact

Declining investor confidence in Atossa Genetics follows the pricing of a public offering of the company’s common shares at a deep discount. The move did not go well with investors. The public offering’s pricing triggered a selloff of the stock to current lows.

Atossa Genetics issued 11.5 million shares of common stock priced at $0.44 a share. The company also offered underwriters the option of purchasing an additional 1 million shares pursuant to the over-allotment option.

Gross proceeds before deduction of underwriting discounts commissions and the offering costs were approximately $5.5 million. Atossa Genetics Inc. (NASDAQ:ATOS) plans to use net proceeds from the offering for general corporate purposes.

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 $ATOS 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.