Bad News for CARDIOME PHARMA CORP (NASDAQ:CRME)

CARDIOME PHARMA CORP(NASDAQ:CRME)

CARDIOME PHARMA CORP (NASDAQ:CRME) stock dropped around 33% after the company revealed that the U.S. Food and Drug Administration (FDA) advised Cardiome that the proposed data package would not be sufficient to support a resubmission of the BRINAVESS® New Drug Application (NDA). CRME shares trade over ten times their 30-day, daily volume figure. Cardiome Pharma Corp. is a pharmaceutical company, that develops and commercializes treatments for patients that are afflicted with heart disease.

CARDIOME PHARMA CORP (NASDAQ:CRME) is a pharmaceutical company that develops and commercializes innovative therapies that will improve the quality of life and health of patients suffering from disease. Cardiome has two cardiology products, BRINAVESS® (vernakalant IV), approved in Europe, Canada, and other countries for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults, and AGGRASTAT® (tirofiban HCl) a reversible GP IIB/IIIa inhibitor indicated for use in patients with acute coronary syndrome. Cardiome also commercializes other products that are approved in countries around the world.

Shares of CARDIOME PHARMA CORP (NASDAQ:CRME) hit their 2017 high in July. However, since then the stock has lost ground every week. For the past ten trading days, CRME stock traded just south of $4.00 as it continuously attempted to break through resistance. However the news that hit today sent the stock gapping down and it opened at $#3.36 before closing at $2.60 for a daily loss of $$1.27 or 33%.

Adjusted for dilution, shares of CARDIOME PHARMA CORP (NASDAQ:CRME) had traded above $35 for most of 2010 before falling fast and trading under $2.00 for most of 2012 and 2013. Towards the end of 2013 and through 2014 CRME stock traded above $5.00 then fell back again. Today’s decline represents the largest single day loss in the past year. CRME’s Relative Strength Index (RSI) is under 10. Most market professionals believe that a RSI value under 20 represents an “oversold” condition.

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.

Market Ignores ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) Patent Award

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV)

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) rose on news that the biopharmaceutical firm was issued a patent, US 9,714,271, covering a broad collection of cyclophilin inhibitors. The newly granted patent significantly extends the claims of the original CRV431 patent family. News about the patent caused CTRV shares to open on their inter-day high, $0.65, before sellers stepped in a sent the stock back down $0.01 below Friday’s close of $0.60.

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV)
One month stock price chart for CTRV

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) is a biopharmaceutical company that develops antiviral drugs with an emphasis on the treatment of Hepatitis B virus (HBV) infections. ContraVir currently has a lead cyclophilin inhibitor, CRV431 (US Patent 9,200,038), for use as an antiviral which ContraVir is developing as a treatment for the hepatitis B virus (HBV). The Company believes that CRV431 will be used in conjunction with tenofovir exalidex (TXLTM), its lead drug currently in Phase 2 clinical trials.

James Sapirstein, Chief Executive Officer of ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) stated in the press release, “We are very pleased to have received the issuance of this additional patent, as it provides broad coverage of many compounds within our library of cyclophilin inhibitors. This also positions us for opportunities to potentially treat other diseases. Having a patented portfolio of cyclophilin inhibitors allows us to access additional disease indications and potentially expand beyond our core program in HBV.”

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) has posted losses every year since 2012 when it reported a loss of (-).02) per share followed by annual per share losses of (-$0.41), (-$1.02), and, for 2016 a loss of (-$0.63) per share. Meanwhile the company has diluted shareholders each year. In 2013, there were 9 million shares outstanding and by 2016 that number grew to 27.06 million. The analyst’s consensus target price for CTRV shares if $6.00.

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 $CTRV 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.

Why did Moleculin Biotech Inc (NASDAQ:MBRX) Have a Rough Week?

Moleculin Biotech Inc (NASDAQ:MBRX)

Moleculin Biotech Inc (NASDAQ:MBRX) stock fell through mild support at $2.50 to close the trading week at $2.39 on light volume. The biotechnology company spent early August trying to establish a price above $3.00 but failed to do so and slid down to establish a new low for August.

Moleculin Biotech Inc (NASDAQ:MBRX)
One month stock price chart for MBRX

Moleculin Biotech Inc. (NASDAQ:MBRX) is a pre-clinical pharmaceutical company with ties to The University of Texas System on behalf of M.D. Anderson Cancer Center. Moleculin Biotech Inc. (NASDAQ:MBRX) developed Annamycin for the treatment of acute myeloid leukemia (AML). AML is the most common type of leukemia in adults. Current treatment includes combining two chemotherapeutic drugs – a treatment regime that has not substantially changed since the 1970s. Annamyecin is a unique liposome formulated anthracycline designed to limit, or erase any cardiotoxicity during treatment. This approach is taken so as to avoid the multi-drug resistance mechanism that frequently defeat the effectiveness of current drugs.

Last Monday, August 14, 2017, Moleculin Biotech Inc (NASDAQ:MBRX) released their Q2 2017 financial results. The biotech company had a Q2 net loss of $2.3 million, which included non-cash income of $1.2 million related to some warrants expiring without being exercised. The market reacted to the news by selling MBRX shares off and they closed the day down over 6%.

Then on Wednesday, Moleculin Biotech Inc (NASDAQ:MBRX) announced it acquired the WP1122 active drug compound from the company’s sub-license partner in Poland. Moleculin Biotech plans to study the drug as a potential treatment for brain tumors.

Walter Klemp, CEO of Moleculin Biotech Inc (NASDAQ:MBRX), commented “Access to this product allows us to accelerate preclinical toxicology and analytical testing of WP1122, which enables preparation of an Investigational New Drug application so we can begin proof of concept clinical trials. Research at MD Anderson using live human brain tumors transplanted into mice has shown that WP1122 has the potential to outperform the current standard of care treatment for glioblastoma, one of the most pervasive forms of brain tumors.”

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

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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.

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

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.

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

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.

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

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.

Biostage Inc (NASDAQ:BSTG) Stock Drops on Financial Results

Biostage Inc (NASDAQ:BSTG)

Biostage Inc (NASDAQ:BSTG) stock dropped after the biotechnology company posted a second quarter financial report that disappointed investors. BSTG stock ended last Friday at $0.51 and closed at $0.44 for a 14% loss. Volume was more than double the listed average.

Biostage Inc (NASDAQ:BSTG)
One month stock chart for BSTG

Holliston, MA-based Biostage Inc (NASDAQ:BSTG) reported a Q2 2017 net loss of approximately (-$3.6) million, or a per share net loss of (-$0.10). In Q2 2016, Biostage reported a net loss of approximately (-$2.7) million, or (-$0.17) per share. The $0.9 million increase is largely due to increased R&D spending on outsourced preclinical studies and $1.0 million in employee expenses.

Holliston, MA-based Biostage Inc (NASDAQ:BSTG) is a biotechnology company that seeks to develop bioengineered organ implants based on the Company’s proprietary Cellframe™ technology. Cellframe technology combines a proprietary biocompatible scaffold with the patient’s own stem cells to create Cellspan organ implants, essentially re-growing the patient’s own organs. Cellspan implants are being developed to treat life-threatening conditions of the esophagus, bronchus, or trachea with the hope of dramatically improving a petient’s treatment outcomes. Based on preclinical data, Biostage selected life-threatening conditions of the esophagus as the initial clinical application of its technology.

On May 4, 2017, the Cellspan Esophageal Implant was surgically implanted into a 75-year old male with a life-threatening cancerous mass in his chest. The surgery was required to address the tumor’s encroachment on the patient’s lung, heart, and esophagus. The portion of the esophagus affected by the cancer was removed and the Cellspan Esophageal Implant was utilized to reconstruct the esophagus. The patient is now alive three months after surgery. Biostage believes that the Cellspan Esophageal Implant has performed as designed.

While BSTG shares are down YTD by over 42%, they have been in an uptrend since the end of June when the above procedure was made public. Accordingly, BSTG shares are up over 60% for the quarter and more than double their 52-week low of $0.22. The analyst’s consensus target price of the stock is $3.00.

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

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Cerecor Inc (NASDAQ:CERC) Announces Three Big News Items

Cerecor Inc (NASDAQ:CERC)

Cerecor Inc (NASDAQ:CERC) shares are the subject of several different news stories and are marginally up at noon EST. Over 1.5 million shares have traded hands which is much higher than their 30-day, daily average of 823,000. Today the biotech company announced Q2 financials, a $25 million rights sale to its CERC-501 treatment, and the retirement of its CEO.

Cerecor Inc (NASDAQ:CERC)
One month stock price chart for CERC.

Cerecor Financials

Cerecor Inc (NASDAQ:CERC) reported a Q2 2017 net loss of (-$1.8) million, or (-$0.14) per share compared to a net loss of (-$3.5) million, or (-$0.41) per share, for the same period in 2016. Q2 2017 Research and development expenses decreased to $0.5 million, compared to $2.5 million for Q2 2016. This decrease was driven primarily by the completion of Cerecor’s Phase 2 clinical trials for CERC-301 and CERC-501 in late 2016. General and administrative expenses for Q2 2017 decreased to $1.4 million, versus $1.6 million for Q2 of 2016. This decrease was driven primarily by a reduction in overall operations due to Cerecor’s limited cash position. As of June 30, 2017, cash and cash equivalents were $5.5 million and current liabilities were $1.7 million.

Today Cerecor Inc (NASDAQ:CERC) also announced that it sold all of its rights to CERC-501 to Janssen Pharmaceuticals, Inc. for $25 million. $3.75 million of that sum was deposited into a 12-month escrow account to secure future indemnification obligations to Janssen, as well as a possible $20 million regulatory milestone payment.

CERC-501 is an oral kappa opioid receptor antagonist that Cerecor developed as an adjunctive treatment of major depressive disorder (“MDD”) and for substance use disorders. CERC-501 has been observed to have activity in animal models of depression, substance withdrawal and dependence, and has been generally well-tolerated in five human clinical trials.

Cerecor CEO News

Lastly, today Cerecor Inc (NASDAQ:CERC) announced the retirement of Dr. Uli Hacksell, Cerecor’s President and CEO, effective Monday, August 14, 2017. John Kaiser, Chief Business Officer, has been appointed Interim CEO. Cerecor’s Board of Directors has initiated a search for a permanent Chief Executive Officer. Dr. Hacksell will stay on as Chairman of Cerecor’s Board.

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 $CERC 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.

Interpace Diagnostics Group Inc (NASDAQ:IDXG) Disappoints Market

Interpace Diagnostics Group Inc (NASDAQ:IDXG)

Interpace Diagnostics Group Inc (NASDAQ:IDXG) shares fell over 9% on Friday after the molecular-testing service announced Q2 financial results after trading hours on Thursday. Prior to the financial release, IDXG shares traded over $0.90 but the day after the market reviewed the company’s financial statement, shares traded just $0.02 above their 52-week low of $0.70 before ending the day at $0.80. Volume was heavy.

Interpace Diagnostics Group Inc (NASDAQ:IDXG)
One month stock price chart for IDXG

Interpace Diagnostics Group, Inc. (NASDAQ:IDXG) is a molecular diagnostics company that develops cancer testing processes that seek to replace the need for surgery to obtain a biopsy sample. Interpace specializes in analysis that can better inform treatment options available to the cancer patient. Currently their pipeline addresses thyroid, pancreatic, and other cancers. Interpace believes that the approach of identifying gene mutations at the molecular level can help healthcare professionals diagnose abnormalities, and their progression, without the expense and potential negative side-effects of surgery.

Interpace posted a (-$6.3) million operational loss for Q2, 2017. Year to date the operational loss was (-$4.4) million compared to (-$7.5) million for the same period ended June 30, 2016. Included in the Q2 operational loss is a (-$2.7) million Loss on Extinguishment of Debt and (-$4.3) million year to date in 2017. Net Revenue for Q2 2017 was $3.9 million, up 11% from Q2 2016, and for the six-month period was $7.3 million, up 7% from the same period in 2016.

Jack Stover, Interpace Diagnostics Group, Inc. (NASDAQ:IDXG)’s President & CEO, stated, “Our cash position is now in excess of $14 million and we increased our stockholders’ equity by over $29 million since year-end. We are now well positioned to leverage our commercial resources and further build out our platforms,” noted Stover. “Additionally, continuing to make reimbursement progress, such as getting coverage for our ThyGenX assay with CIGNA, one of the largest healthcare insurers in the US, further demonstrates the importance of our diagnostic tests to the marketplace,”

Interpace Diagnostics Group, Inc. (NASDAQ:IDXG) stock has lost over 81% YTD, and is down almost 70% for the 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 $IDXG and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.