Shares Rocket on Ocera Therapeutics Inc (NASDAQ:OCRX) Buyout

Ocera Therapeutics Inc (NASDAQ:OCRX)

Ocera Therapeutics Inc (NASDAQ:OCRX) shares rocketed over 65% higher today after the company announced it is being acquired by UK-based Mallinckrodt plc for $1.52 per share. The news sent investors scrambling to buy shares in the new company and share volume is on pace to register a figure over 120 times the normal daily average.

Ocera Therapeutics Inc (NASDAQ:OCRX)

Why Ocera Therapeutics is Attractive

Ocera Therapeutics Inc (NASDAQ:OCRX) is a clinical stage biopharmaceutical company that developing OCR-002 (ornithine phenylacetate) in both intravenous (IV) and oral formulations. OCR-002 is an ammonia scavenger and has been granted Orphan Drug designation (ODD) and Fast Track status by the U.S. Food and Drug Administration (FDA) for the treatment of hyperammonemia and resultant hepatic encephalopathy (HE) in patients with acute liver failure and acute-on-chronic liver disease.

Although the STOP-HE study7 did not meet its primary endpoint, it achieved secondary endpoints that validated OCR-002 as a potent ammonia scavenger. In a subsequent analysis of the data, it was observed that the degree of ammonia reduction in patients correlated strongly with clinical improvement. As the response rate also appeared to increase proportionally to dose level, this suggests that some patients in the Phase 2 trial may have been under-dosed. The IV formulation of OCR-002, if approved, is expected to provide rapid reduction in symptoms of acute HE, and potentially reduce hospitalization stay. A subset of patients continues to have HE symptoms after discharge. OCR-002’s oral formulation, if approved, is expected to provide post-discharge continuity of care for the HE patient, reducing the risk of recurrent HE episodes and rehospitalization.

The Purchaser

Mallinckrodt plc, headquartered in Staines-upon-Thames, England is a global business that develops, manufactures, markets and distributes specialty pharmaceutical products and therapies. Areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, nephrology, pulmonology and ophthalmology; immunotherapy and neonatal respiratory critical care therapies; and analgesics and hemostasis products. Mallinckrodt’s core strengths include the acquisition and management of highly regulated raw materials and specialized chemistry, formulation and manufacturing capabilities.

A subsidiary of Mallinckrodt plc will commence a cash tender offer to purchase all of Ocera Therapeutics Inc (NASDAQ:OCRX) outstanding shares for $1.52 per share (approximately $42 million), plus one Contingent Value Right to receive one or more payments in cash of up to $2.58 per share (up to approximately $75 million) based on the successful completion of certain development and sales milestones. Mallinckrodt plc expects dilution from the acquisition to adjusted diluted earnings per share by $0.25 to $0.35 annually beginning in 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.

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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.

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) Rattles Shareholders

Eleven Biotherapeutics Inc. (NASDAQ:EBIO)

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) fell 22.11% after announcing the pricing of an underwritten public offering of 5.5 million shares of common stock. The late-stage clinical oncology company is also offering pre-funded warrants for the purchase of an aggregate 4.5 million shares of common stock as well as common warrants for the purchase of up to 10 million shares.

Eleven Biotherapeutics Inc. (NASDAQ:EBIO)

Public Offering

The company is offering each share of common stock or pre-funded warrant at a combined effective price of $0.80 a share. Eleven Biotherapeutics Inc. (NASDAQ:EBIO) has also granted underwriters a 30-day option to purchase an addition 1.5 million shares of common stock at a price of $0.79 a share

H.C Wainwright & Co., LLC is acting as the book-running manager for the offering. The offering should close on or about November 3, 2017, subject to customary closing conditions

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) expects gross proceeds of approximately $8 million prior to the deduction of underwriting discounts and commissions among other offering expenses. The company plans to use the net proceeds to finance clinical development of its lead product candidate Vicinium.

The late-stage clinical oncology company has already completed manufacturing of all the Vicinium necessary for its Phase 3 registration trial. The trial seeks to evaluate the candidate drug’s ability to treat non-muscle invasive bladder cancer

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) continues to trade lower for the better part of the year. Investors’ confidence in the stock has taken a hit amidst stock dilution concerns and the fact that the company could be sinking further into debt. The stock has shed more than 60% in market value since the start of the year.

CFO Appointment

Separately, Eleven Biotherapeutics Inc. (NASDAQ:EBIO) has confirmed the appointment of Richard F. Fitzgerald as the Interim Chief Financial Officer. He replaces John McCabe who stepped down from the post. Fitzgerald joins the company with over two decades of financial and strategic leadership.

“We are pleased to welcome Richard to the management team at eleven. He brings significant experience in capital raising and strategic leadership to the company, as we look forward to top-line three-month data from our Phase 3 trial of our lead drug candidate Vicinium in mid-2018,” said Stephen Hurly, Chief Executive Officer of Eleven Biotherapeutics Inc. (NASDAQ:EBIO).

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 $EBIO 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.

Skyline Medical Inc (NASDAQ:SKLN) Stock Rises on Collaboration Announcement

Skyline Medical Inc (NASDAQ:SKLN)

Skyline Medical Inc (NASDAQ:SKLN) shares rose over 11% on the back of news that the fluid management systems firm announced a strategic collaboration to use their proprietary Helomics D-CHIP™ platform to develop new approaches for personalized cancer diagnosis and care. This collaboration is seen as part of Skyline’s attempt to diversify its revenue channels. SKLN shares ended Tuesday at $1.88 then gapped up to open at $2.26 before hitting their inter-day high of $2.50. SKLN stock closed at $2.09.

Skyline Medical Inc (NASDAQ:SKLN)

The Collaboration

Skyline Medical Inc (NASDAQ:SKLN) developed and produces a fully automated, patented, FDA-cleared waste fluid disposal system that claims to eliminate staff exposure to blood, irrigation fluid, and other potentially infectious fluids found in the healthcare environment.

Helomics offers services that leverage our patient-derived tumor models, coupled to a wide range of multi-omics assays (genomics, proteomics and biochemical), and a proprietary bioinformatics platform (D-CHIP) to provide a tailored solution to our client’s specific needs.

Helomics has amassed large quantities of data on patients with cancer as part of its ChemoFx® precision cancer diagnostic. This “big-data” repository contains the drug response profiles of over 149,000 patient tumors and their molecular, genomic, biochemical and histopathology data coupled to de-identified patient demographics.

Dr. Carl Schwartz, Skyline Medical CEO, stated “Skyline Medical is building a more diversified business, and the Helomics collaboration is one more step along our path, helping patients, oncologists and pathologists to do a patient personalized medicine’s approach using AI and big data. We are very excited about this opportunity for Skyline and its shareholders.”

SKLN Stock Performance

SKLN shares have been trading between $1.50 and $2.00 for most of 2017. Year-to-date they are down almost 33% but are up over 26% over the past month. Their 52-week low is $1.20 and their 52-week high is $6.05.

The current uptrend has been reflected in their Relative Strength Index (RSI) score of 80. Most traders believe that a score above 70 indicates a stock is entering an “Overbought” 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: 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.

OHR Pharmaceutical Inc (NASDAQ:OHRP)

VIVUS, Inc. (NASDAQ:VVUS) New Lows

VIVUS, Inc. (NASDAQ:VVUS)

Campbell, CA-based VIVUS, Inc. (NASDAQ:VVUS) has established new lows for three days in a row on the back of higher than average volume. In August, the street expected VIVUS, Inc. (NASDAQ:VVUS) to report a Q2 2017 loss of (-$0.13) and that was exactly what occurred. But revenues tumbled almost 19%, to $11.2 million.

VIVUS, Inc. (NASDAQ:VVUS)

In mid-August, VVUS stock broke below the psychologically important $1 per share level and touched $0.86 on September 6. Shares then proceeded to trade higher near the $1 level before tumbling for 13 of the next 15 trading days. Today the shares touched an all-time low of $0.61.

VIVUS Business

VIVUS, Inc. (NASDAQ:VVUS) is a biopharmaceutical company. It develops and commercializes therapies to address unmet medical needs in the United States and the European Union. The company offers Qsymia for the treatment of obesity and STENDRA, an oral phosphodiesterase type 5 inhibitor for the treatment of erectile dysfunction. Qsymia has completed Phase II studies for the treatment of obstructive sleep apnea and diabetes, as well as for other obesity-related diseases.

VVUS Stock Performance

Unlike many biotechnology companies, VIVUS, Inc. (NASDAQ:VVUS) has not diluted shareholder equity through additional public share offerings. However its revenues have been inconsistent. In 2013, the company reported sales of $114.2 million followed by annual sales of $95.4 million, and $124.3 million for 2016.

Earnings have been more of a bright spot for the company. From 2012 until 2015, VIVUS, Inc. (NASDAQ:VVUS) reported losses, but for 2016 the company reported a per share profit of $0.22.

VVUS stock has a consensus one-year target price of $2.15. For the year, and prior to today’s price action, the stock has lost almost 35%.

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: 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.

Vermillion, Inc. (NASDAQ:VRML) Stock Jumps!

Vermillion, Inc. (NASDAQ:VRML)

Vermillion, Inc. (NASDAQ:VRML) stock is up over 33% in early afternoon trading after the company’s subsidiary announced that it expanded positive policy coverage with the addition of 14 key managed care providers. VRML stock opened at $1.51, also today’s low, and shot up to hit an inter-day high of $1.97. VRML shares are trading around $1.88 at the time of this writing (12:38 PM EST).

Vermillion, Inc. (NASDAQ:VRML)

Austin, TX-based Vermillion, Inc. (NASDAQ:VRML) discovers, develops, and commercializes diagnostic and bio-analytical solutions that aid physicians to diagnose, treat, and improve gynecologic health. Vermillion, along with its scientific collaborators, discovers, develops, and delivers innovative diagnostic and technology tools that help women with serious diseases. One of the company’s subsidiaries is ASPiRA Labs – the exclusive distributor of OVA1 (Multivariate Index Assay) (MIA).

Vermillion Subsidiary Coverage Details

ASPiRA Labs established positive coverage policies specify that OVA1 is medically necessary for the below plans:

  • BlueCross BlueShield (BCBS) plans associated with a national plan, Health Care Service Corporation (HCSC) that include Illinois, Montana, New Mexico, Oklahoma and Texas (approximately 14.8 million covered lives)
  • Horizon BCBS plans in New Jersey (approximately 3.7 million covered lives)
  • Highmark BCBS plans that include Pennsylvania, West Virginia and Delaware (approximately 3.2 million covered lives)
  • Wellcare: Government sponsored managed care across the U.S. (approximately 2.9 million covered lives)

Fred Ferrara, Chief Operating Officer of Vermillion, Inc. (NASDAQ:VRML) stated “Two policies totaling approximately 3.8 million covered lives are effective as of October 1, 2017, with the remainder being effective January 2018. This positive policy coverage is the first step to in-network contracts and market adoption. We are finishing this year strong with managed care rapidly increasing support of OVA1 to over 123 million lives, as of January 2018.  OVA1 provides the only pelvic mass risk assessment product proven to get patients to the highest standard of care for ovarian cancer treatment.”

VRML Stock Performance

VRML stock is currently trading above the analysts’ consensus price target of $1.75. Its 52-week low is $0.76 and its 52-week high is $2.85.

Earnings losses have been contracting over the past three years. In 2014 the per share loss was (-$0.53), followed in 2015 by a loss of (-$0.41), and a narrower loss for 2016 of (-$0.29).

Dilution remains a concern though. In 2012 there were 15.1 million shares outstanding. That number has increased every year and for 2016 the company reported 52.2 million shares were outstaning.

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 $VRML 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.

Northwest Biotherapeutics, Inc (OTCMKTS:NWBO)

Legal Issues Settled for Northwest Biotherapeutics, Inc (OTCMKTS:NWBO)?

Northwest Biotherapeutics, Inc (OTCMKTS:NWBO)

Bethesda, MD-based Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) shares are off 5% after the company announced “meaningful progress” in resolving four lawsuits that were brought against it. The company announced that it expects to not pay any monetary damages.

Northwest Biotherapeutics, Inc (OTCMKTS:NWBO)

The Lawsuits

The lawsuit filed in a Maryland court included a variety of claims about alleged false reporting concerning results of the DCVax-Direct Phase I trial and the DCVax-L Phase III GBM trial, among other things.

Another lawsuit filed in Delaware and Maryland was a class action lawsuit on behalf of the Company and its shareholders naming Cognate, various Toucan entities, and NW Bio’s Board of Directors as defendants and seeking disgorgement of purportedly improper benefits and an unspecified amount of damages, among other relief.

The last lawsuit was filed in Maryland and was an amalgam of accusations detailed above.

Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) CEO Linda Powers stated “lawsuits like these can be a distraction from the important work of companies like ours. In my opinion, disposing of these cases is an important step forward in our vindication from the relentless and false campaign to discredit our science, our operations and our ethics, and hopefully helps remove what have been delaying obstacles in our path forward.  These resolutions come with no further price tag to shareholders, allowing us to focus our resources on the Company’s mission of providing our promising vaccines to as many solid tumor cancer patients as possible, at the earliest time possible.”

About Northwest Biotherapeutics, Inc.

Northwest Biotherapeutics, Inc (OTCMKTS:NWBO)is a biotechnology company that develops personalized immunotherapy products designed to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis. The company has operations and sales in both the North America and Europe.

NWBO Stock Performance

The consensus one-year price target for NWBO stock is $5.00. However, today the shares hit a new low of $0.16. 10% of the shares float is held by short-sellers.

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 $NWBO 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.

Oncobiologics Inc. (NASDAQ:ONS) Receives $25 Million

Oncobiologics Inc. (NASDAQ:ONS)

Oncobiologics Inc. (NASDAQ:ONS) fell 5.94% after announcing the closure of a previously announced strategic partnership with GMS Tenshi holdings. The partnership provides the clinical stage biopharmaceutical company with the financial muscle needed to accelerate the development and commercialization of biosimilar candidates.

Oncobiologics Inc. (NASDAQ:ONS)

Purchase & Exchange Agreement

Oncobiologics Inc. (NASDAQ:ONS) is down by more than 50% for the year, having underperformed the overall industry for the better part of the year. The stock is currently trading in a downtrend and close to its 52-week low of $0.90 a share.

Pursuant to a Purchase and Exchange Agreement signed in September, GMS Tenshi is to receive Series A Convertible Preferred stock in exchange for $25 million. The investor has also been offered the option of acquiring warrants, for the purchase of an additional 16.8 million shares, with an aggregate exercise price of $15 million.

“This investment will also significantly enhance our commercialization abilities in emerging markets, along with our partnering and licensing capabilities. Our new collaborator shares in our vision is to accelerate the commercialization of the BioSymphony™ Platform and our pipeline, in the hopes of bringing affordable biologic drugs to patients around the world,” said CEO Pankaj Mohan.

Oncobiologics board has elected Faisal G. Sukhtian and Joe Thomas to the board of directors to fill vacancies left by Robin Smith Hoke and Donald J. Griffith. The two will represent GMS Tenshi under the Investors Rights Agreement.

Development-License Agreement

The two companies have also entered into a joint development and License Agreement. The agreement provides GMS Tenshi with rights to Oncobiologics Inc. (NASDAQ:ONS) two lead biosimilar assets ONS-1045 and ONS-3010, in emerging markets of China, India, and Mexico.

Oncobiologics Inc. (NASDAQ:ONS) plans to use net proceeds from the private placement for Phase 3 trials of its lead biosimilar candidate ONS-3010. The company has already completed Phase 1 clinical trials and is now preparing to enter Phase 3 trials next year. The candidate drug is being developed as HUMIRA biosimilar.

“Our objective is to help Oncobiologics prepare ONS-3010 so that it can be launched alongside other first-wave HUMIRA® Biosimilars with potentially improved tolerability compared to the originator product as reported in the successful Phase 1 trial,” GMS Tenshi 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.

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

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) Drops After Q3 Net Loss

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR)

Shares of Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) fell 3.4% after the pharmaceutical company reported a (-$2) million net loss. Basic and diluted net loss for the three months ended September 30, 2017, came in at (-$0.14) a share, compared to net loss of (-$0.41) reported last year.

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR)

RTTR Stock Performance

Despite a 42% year-over-year decrease in net loss, investors still pushed the stock lower in the market. Ritter Pharmaceuticals has underperformed the overall industry for the better part of the year. The stock is down by more than 80% for the year.

In defense of the company’s performance, Chief Executive Officer, Michael D. Step said they are committed and focused on the development of RP-G28, for the treatment of lactose intolerance. Plans are already underway to commence Phase 3 trials after a productive End-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA).

RP-G28 Trials

During the quarter, Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) raised $23 million in an underwritten public offering. Net proceeds from the offering are to be used to finance the proposed Phase 3 trial in the first half of next year. The therapy has the potential to become the first FDA approved treatment for Lactose intolerance.

“With Phase 3 guidance from the FDA from our End of Phase 2 Meeting and our recent successful capital raise behind us, we have a clear regulatory pathway and we have sufficient funding to execute the first pivotal Phase 3 clinical trial of RP-G28 through data readout,” said Andrew J. Ritter President Ritter Pharmaceutical.

Ritter Pharmaceuticals Operating Costs

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR)’s research and development expenses in the quarter totaled $0.9 million primarily attributable to Phase 2b/3 extension study fees of RP-G28 on Phase 3 program planning expenses. However, it was a decline from $2.3 million spent last year.

Total operating expenses in the quarter stood at $2 million compared to $3.5 million reported last year. The decrease was primarily as a result of a decrease in research and development expenses. Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) exited the quarter with cash and cash equivalent of $3.6 million. The cash balance also received a boost of $21 million from a public offering held last month.

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 $RTTR 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.

Idera Pharmaceuticals Inc (NASDAQ:IDRA) Tries to Rebound

Idera Pharmaceuticals Inc (NASDAQ:IDRA)

Idera Pharmaceuticals Inc (NASDAQ:IDRA) stock failed to hold early gains and end the trading session higher for the fourth day in a row. IDRA shares ended at $1.56 after gapping up to open the session at $1.72, which was also the high for the day. Volume was heavy – over three times the 30-day, daily average.

Idera Pharmaceuticals Inc (NASDAQ:IDRA)

IDRA stock had plummeted on October 26, after Idera Pharmaceuticals Inc (NASDAQ:IDRA) announced pricing a share offering at $1.50 – the previous close for IDRA shares was $2.03. The offering was for 33,333,334 shares of its common stock with a 30-day option to for the underwriters to purchase up to an additional 5,000,000 shares of common stock.

J.P. Morgan, Barclays, and Goldman Sachs & Co. LLC are the joint bookrunning managers on the $46.8 million transaction. H.C. Wainwright & Co. is acting as a co-manager on the transaction. Idera Pharmaceuticals Inc (NASDAQ:IDRA) intends to use the net proceeds to advance the development of IMO-2125 in its immuno-oncology program, for working capital, and for other general corporate expenses.

About Idera

Idera Pharmaceuticals Inc (NASDAQ:IDRA)’s development program focuses on boosting the immune system to play a more powerful role in fighting cancer, and ultimately increase the number of people who can benefit from immunotherapy. Idera invests in research and development, and works with investigators and partners to address the unmet needs of patients who are suffering from rare, life-threatening diseases.

IDRA Stock Performance

JP Morgan, Wedbush Securities, Piper Jaffray, and Baird all follow Idera Pharmaceuticals Inc (NASDAQ:IDRA) and rate the shares as a “Strong Buy”. The listed consensus one-year price target is $5.75.

Year-to-date ODRA shares are up only 4% – far below the sector’s performance. For the year, IDRA stock is up 0.65% but over the past week, after the company priced the offering at $1.50, shares have lost over 28% of their value.

Idera Pharmaceuticals Inc (NASDAQ:IDRA) has posted per share losses since 2012 (-$0.81) but the trend has been favorable and the loss for 2016 was just (-$0.30). Last year the company posted their first significant sales figure of $16.2 million. The downside for investors has been the annual dilution as outstanding shares have increased every year since 2012 when the number of outstanding shares was 27.64 million. But by the end of 2016, and prior to the most recent share offering, over 127 million shares were listed as outstanding.

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

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

About the author: 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.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) Hit New Low

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) shares hit a new 52-week low of $0.90 on a volume figure of 1.2 million shares – almost four times the posted 30-day, daily average. EBIO shares have been on a steady slide since mid-September. In the past month, EBIO shareholders have lost over 37%.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) is a late-stage, clinical oncology company developing novel product candidates based upon their proprietary targeted protein therapeutics (TPTs) platform. Eleven Biotherapeutics TPTs incorporate a tumor-targeting antibody fragment and a protein cytotoxic payload into a single protein molecule to achieve focused tumor cell killing.

On September 22, 2017 EBIO shares closed at $1.60 – around 60% above today’s closing price. That day Eleven Biotherapeutics Inc (NASDAQ:EBIO) announced that it had completed the manufacturing of all Vicinium for its ongoing Phase 3 registration trial in patients with non-muscle invasive bladder cancer (NMIBC), and for its Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute. Accordingly, Eleven announced ending its large-scale manufacturing activities and redirection of resources towards the completion of its Phase 3 trial and preparing for discussions with the U.S. Food and Drug Administration (FDA) regardingthe submission of a Biologics License Application (BLA) for Vicinium in patients with NMIBC. This change included an impending reduction of headcount.

Eleven Biotherapeutics Performance

In 2012, EBIO shareholders experienced a per share loss of (-$13.91) that was followed in 2013 by a loss of (-$16.19). But in 2014, the per share loss shrank to ($-2.37), then shrank again in 2015. The trend continued and in 2016 the company posted a per share profit of ($0.09).

Sales have been lackluster and registered just $1 million for 2015 but Eleven Biotherapeutics posted sales of $30 million for 2016. Unfortunately, the number of outstanding shares has been increasing and diluting shareholder equity. In 2013 the number of outstanding shares was just 1.35 million. That number was reported at 21.08 million for 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 $EBIO 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.