Pluristem Therapeutics Inc. (NASDAQ:PSTI) Drops After Pricing Offering

Pluristem Therapeutics Inc. (NASDAQ:PSTI)

Pluristem Therapeutics Inc. (NASDAQ:PSTI) shares fell 14.7% after announcing the pricing of a previously announced public offering of 9 million shares on the Tel-Aviv Stock Exchange. The developer of placenta-based cell therapy products has priced the offering at $1.67 a share and expects gross proceeds of $15.1 million.

Pluristem Therapeutics Inc. (NASDAQ:PSTI)

PSTI Investors Reaction

The accepted orders in the aggregate amount of $15.1 million after the offering became over-subscribed. The minimum share price consequently increased from $1.61 to $1.67 a share. The offering should close on or about December 31, 2017.

Pluristem Therapeutics Inc. (NASDAQ:PSTI) plans to use net proceeds from the offering for research and product development. Part of the funds will also to be used to finance clinical trial activities, working capital, and for other general corporate purposes.

Investors reacted to the public offering pricing by pushing the stock lower. A point of concern is that the public offering was priced at a discount and that it could lead to further dilution of the stock. However, the stock continues to trade in an uptrend. The stock is up by more than 10% for the year.

PLX-R18 Development

The pricing of the public offering follows the Israel’s Ministry of Health approval of the company’s Phase 1 study of drug candidate PLX-R18. Pluristem Therapeutics Inc. (NASDAQ:PSTI) is investigating the drug candidate for the treatment of insufficient hematopoietic recovery following hematopoietic cell transplantation HCT. The U.S. Food and Drug Administration (FDA) has also approved the trial. In the United States, Pluristem is to recruit up to 30 patients for the trial.

“We’re very pleased with the Israeli Ministry of Health’s vote of confidence in our innovative therapies and efforts to provide treatments for a range of hematopoietic conditions, including insufficient recovery from hematopoietic stem cell transplants,” stated Zami Aberman, Pluristem Co-CEO, and Chairman

In addition, PLX-R18 is in late-stage development as a treatment for acute radiation syndrome (ARS). The cell therapy is designed to treat bone marrow that is unable to produce enough blood cells due to ARS. Pluristem Therapeutics Inc. (NASDAQ:PSTI) holds several patents that cover PLX-r18 for the treatment of impaired hematopoietic systems in case of a bone marrow transplant.

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.

Immune Design Corp (NASDAQ:IMDZ)

Immune Design Corp (NASDAQ:IMDZ) Bounces off Lows

Immune Design Corp (NASDAQ:IMDZ)

Shares of Immune Design Corp (NASDAQ:IMDZ) gained 12.2% ahead of their much-awaited financial results for the third quarter, ended September 30, 2017. The clinical stage immunotherapy company will release the results on November 1, 2017, after the close of the U.S. markets.

Immune Design Corp (NASDAQ:IMDZ)

Earnings Expectations

Investor confidence in the stock has taken a hit this month as seen by the stock shedding more than 50% in its market value. The stock has come under pressure following the pricing of an underwritten public offering of 19.5 million shares at a price of $4.10 a share. Investors pushed the stock lower after the company offered the shares at a discount to the market price.

Last quarter, the immunotherapy company reported a positive earnings surprise of 16.92% outpacing the consensus estimates of average earnings beat of 12.94%. A similar performance with Q3 financial results could result in the stock bouncing back from current trading levels.

Increased implied volatility on Immune Design Corp (NASDAQ:IMDZ) November options is already fuelling suggestions of a potential big move in either direction. Analysts at Zack’s research currently rate the stock as a ‘hold’.

Immune Design Pipeline

Progress on the company’s pipeline candidates should have an impact on the stock’s direction of trade going forward. The company’s lead candidate drugs are CMB305 for the treatment of solid tumor and G100 for the treatment of merkel cell carcinoma.

Immune Design is evaluating CMB305 both as a monotherapy and in combination with Roche Holding Ltd. (ADR)(OTCMKTS:RHHBY) Tecentriq. G100 is being developed on the GLAAS platform in collaboration with Merck for the treatment of patients with non-Hodgkin’s lymphoma (NHL).

The European Medicine Agency has granted G100 Orphan Drug Designation for the treatment of NHL. The designation is expected to accelerate its development while also guaranteeing market exclusivity for up to 10 years.

Immune Design Corp (NASDAQ:IMDZ) has the financial power to accelerate the development of the two candidate drugs given the pricing of the $80 million public offering.

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.

Aviragen Therapeutics Inc (NASDAQ:AVIR)

Aviragen Therapeutics Inc (NASDAQ:AVIR) Shares Drop on Merger Announcment

Aviragen Therapeutics Inc (NASDAQ:AVIR)

Shares of Aviragen Therapeutics Inc (NASDAQ:AVIR) are having their most volatile day in months after the biotechnology company announced that they were merging with Vaxart, Inc., a privately-held, clinical-stage company focused on developing oral recombinant vaccines. The merger will result in a combined company, Vaxart, Inc., focused on developing orally-delivered therapeutics and prophylactics to address a variety of viral infections.

Aviragen Therapeutics Inc (NASDAQ:AVIR)

Wouter Latour, M.D., Chief Executive Officer of Vaxart stated “This transaction gives us the opportunity to build on the positive Phase 2 challenge study results we announced recently for our influenza oral tablet vaccine, as well as the excellent results we obtained in the safety and immunogenicity studies with our norovirus vaccine.  Additionally, it will provide us access to Aviragen’s antiviral assets, including their BTA074 Phase 2 program for the treatment of condyloma caused by HPV, which is on track to complete enrollment this quarter and to report top-line safety and efficacy data in the second quarter of 2018.”

Deal Details

The exchange ratio was determined by assigning $60 million in value to Aviragen Therapeutics Inc (NASDAQ:AVIR) for its financial and clinical assets and $90 million in value for Vaxart’s assets. On a pro forma basis, after giving effect to the number of shares of Aviragen common stock issued in the merger, Vaxart’s securityholders will own approximately 60% of the combined company and Aviragen Therapeutics Inc (NASDAQ:AVIR) shareholders will own approximately 40% of the combined company.

AVIR Stock Review

AVIR shares ended Friday at $0.83 then gapped up this morning to open at $0.96 on the merger news. The shares went on to hit an inter-day high of $1.08 before sellers came in a pushed the price down to a low of $0.67. Currently shares are trading around the $0.70 handle.

AVIR shares have done well since they hit a 52-week low early this past summer at $0.43. For the month they are up over 27% and up for the quarter by a whopping 50%.

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.

pSivida Corp. (NASDAQ:PSDV) Turns to Strategic Collaboration

pSivida Corp. (NASDAQ:PSDV)

pSivida Corp. (NASDAQ:PSDV) was unchanged in Friday’s trading session, days after announcing a strategic collaboration with Nicox S.A. The collaboration seeks to enhance the development of a sustained-release drug that can lower intraocular pressure in patients with glaucoma or Ocular Hypertension.

pSivida Corp. (NASDAQ:PSDV)

PSDV Stock Performance

pSivida Corp. (NASDAQ:PSDV) shares are currently trading near all-time lows, the stock having been under immense selling pressure since June. Over the past four months, the stock has shed more than 50% in market value as it continues to trade in a downtrend. The company has since turned to strategic collaboration as it seeks to reinvigorate its prospects.

Nicox-pSivida Collaboration

Pursuant to the agreement, the two companies are to collaborate in the selection of NO-donating products from Nicox’s research portfolio, which are to be combined with pSivida’s sustained release drug technology.

“Combining this novel approach to IOP lowering with our bio erodible, a sustained delivery device could offer a unique therapy alternative or adjunct to existing therapies to lower IOP in order to help prevent the development and progression of glaucoma,” said CEO, Nancy Lurker.

pSivida Corp. (NASDAQ:PSDV) has the responsibility of taking care of initial development activities of ocular insert formulations, for which it will receive undisclosed payments from Nicox. Under the terms of the agreement, the two companies may proceed with further development including non-clinical studies needed to generate pre-clinical data.

Nicox is to cater for any expenses that arise from incremental development activities for each product selected to progress into development. The two will negotiate a license agreement for any product that comes out of the collaboration.

Glaucoma Partnership

In addition, pSivida Corp. (NASDAQ:PSDV) has signed an agreement with a major pharmaceutical company for the development of two glaucoma drugs using its proprietary release technology. Under the terms of the agreement, the company is to receive, upfront payments of $750,000 for initial development. Additional payment totaling $200,000 could come into play depending on certain milestones.

“A key focus for pSivida during 2017 is to expand the number of development collaboration agreements with other drug manufacturers and this is the second such agreement during 2017. This agreement extends the strong working relationship between the two organizations,” Lurker in a statement.

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

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About the author: 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.

Repros Therapeutics Inc. (NASDAQ:RPRX)

Repros Therapeutics Inc. (NASDAQ:RPRX) Bounce back Gathers Momentum

Repros Therapeutics Inc. (NASDAQ:RPRX)

Repros Therapeutics Inc. (NASDAQ:RPRX) rebound from this year’s lows of $0.26 a share continued in Friday’s trading session, as its shares gained 3.11% to end the week at $0.5336. However, the stock is still down for year-to-date after losing more than 50% in market value since January.

Repros Therapeutics Inc. (NASDAQ:RPRX)

FDA Clinical Hold Debacle

Investor confidence in Repros Therapeutics Inc. (NASDAQ:RPRX) took a hit in June after the U.S. Food and Drug Administration (FDA) instituted a clinical hold on the company’s Proellex program for the treatment of uterine fibroids. According to the agency, Repros Therapeutics Inc. (NASDAQ:RPRX) will have to conduct a much larger clinical study if the FDA is to lift the partial clinical hold. A point of concern to investors is that the additional requirements could end up being expensive and time-consuming.

This is not the first time that the biopharmaceutical company has found itself at odds with the FDA with regards to the development of Proellex. In 2009, the FDA placed the program under clinical hold, but later allowed it to continue under partial clinical hold with low oral dosage.

Repros Therapeutics Inc. (NASDAQ:RPRX) is also evaluating Proellex in its Phase IIb study for uterine fibroids by vaginal delivery. The company says it plans to increase its focus on this study given that it does not have clinical hold issues.

“Clinical work done to date suggests that vaginal delivery of telapristone acetate has the potential to yield good efficacy with significantly lower systemic blood levels. Furthermore, we intend to leverage drug delivery technology that could offer to dose less frequently than once per day,” said CEO, Larry Dilaha.

Q2 Net Loss

The Texas-based biopharmaceutical company reported a net loss of (-$2.2) million or (-$0.08) a share for the three months ended June 30, 2017, compared to a net loss of (-$4.3) million a year ago. The decline was primarily due to a decrease in clinical development expenses related to Proellex and enclomiphene product candidates.

Repros Therapeutics Inc. (NASDAQ:RPRX)’s net loss for the first six months of the year stood at (-$8.1) million or (-$0.30) a share, compared to a net loss of (-$9.1) million for the corresponding period last year.

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

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

Celsion Corporation (NASDAQ:CLSN)

Celsion Corporation (NASDAQ:CLSN) Dilutes Shareholders – Again

Celsion Corporation (NASDAQ:CLSN)

Celsion Corporation (NASDAQ:CLSN) shares dropped nearly 20% after the biotechnology firm announced the pricing of an underwritten offering of 2,640,000 shares of its common stock and warrants. The offering prices 1.32 million CLSN shares at $2.50 and each share is is being sold together with 0.50 warrants, with each whole warrant exercisable to purchase one whole share of common stock. The warrants have an exercise price of $3.00 per share, are not exercisable until six months after issuance and will terminate 5 years from the time each warrant is first exercisable. Celsion expects to raise $6.6 million before expenses and fees are deducted.

Celsion Corporation (NASDAQ:CLSN)

The announcement sent the shares gapping lower to open at $2.30 after closing on Thursday at $2.86. Twice during October CLSN stock had made runs to the $6 handle before retreating. Prior to Friday, the shares had experienced over ten trading days of consecutive losses.

Lawrenceville, NJ-based Celsion Corporation (NASDAQ:CLSN) is an oncology drug company that develops and commercializes directed chemotherapy, DNA-mediated immunotherapy, and RNA based therapy products for the treatment of cancer. The company’s lead product includes ThermoDox, a liposomal encapsulation of doxorubicin that is in Phase III clinical trials for primary liver cancer; and under Phase II clinical trials for recurrent chest wall breast cancer. It is also developing GEN-1, a DNA-based immunotherapeutic product for the localized treatment of ovarian and brain cancers.

CLSN Stock Performance

On October 4, 2017 Maxim Group upgraded their rating on CLSN shares from a “Hold” to a “Buy” with a $7 price target. Two other investment firms have previously rated CLSN stock as a “Strong Buy”. The one-year consensus price target is $8.

However, shares of the biotech have not performed. Year-to-date shares are down over 45% and are down over 84% for the year. In the short-term shareholders have seen a bounce from the August-September trading range under $2 and their monthly performance is a positive 50% over the past month.

Celsion Corporation (NASDAQ:CLSN) has a consistent history of issuing shares and diluting shareholder equity. In 2012, there were 550,000 shares outstanding and that number has grown each year. In 2016 there were 1.85 million CLSN shares outstanding. Earnings have been just as frustrating for shareholders. Per share losses have been reported every year since 2012 and for 2016 the loss was (-$11.90) per share.

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: 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.

MediciNova, Inc. (NASDAQ:MNOV)

MediciNova, Inc. (NASDAQ:MNOV) Reports Topline Results

MediciNova, Inc. (NASDAQ:MNOV)

MediciNova, Inc. (NASDAQ:MNOV) shares fell 2.76% after the biopharmaceutical company reported topline results from its SPRINT-MS Phase 2B trials which investigated MN-166 for the treatment of multiple sclerosis. The lead drug candidate achieved its primary endpoints by demonstrating statistically significant reduction in the rate of progression in brain atrophy when compared to a placebo.

MediciNova, Inc. (NASDAQ:MNOV)

MN-166 Topline Results

The topline clinical trial results will be presented at the 7th Joint ECTRIMS*-ACTRIMS** Meeting in Paris on October 28, 2017, by Dr. Robert Fox, Staff Neurologist at the Cleveland Clinic.

Dr. Robert Fox commented, “This is an encouraging step forward in the development of treatments for progressive MS, which has historically been very difficult to treat.” Yuichi Iwaki, MD, Ph.D., President and Chief Executive Officer of MediciNova, Inc. commented, “This is a major epoch for patients. We will coordinate the next plan to complete our mission.”

MediciNova, Inc. (NASDAQ:MNOV) is currently trading in an uptrend after bouncing from its August lows of $4.40 a share. However, the stock has come under pressure in recent trading sessions after recording a new 52-week high of $7.85 a share. It faces immediate resistance at the $6.90 mark above which it could make a push for the 52-week high. The stock is currently rated as a strong buy by one analyst firm according to data compiled by Zacks Investment Research.

MediciNova Pipeline

MediciNova, Inc. (NASDAQ:MNOV) lead candidate drug MN-166 is an orally bioavailable, small-molecule phosphodiesterase designed to suppress pro-inflammatory cytokines to promote neurotrophic factors. The company acquired it from Kyori pharmaceuticals having been marketed in Japan and Korea since 1989.

MediciNova, Inc. (NASDAQ:MNOV) is currently focusing on MN-166 for the treatment of neurological disorders such as progressive MSM ALS and substance abuse. The company has completed the enrollment of patients in a Phase 2 clinical trial of MN166 in Methamphetamine Dependence.

“We are pleased that enrollment is now completed in the first study to evaluate MN-166’s (ibudilast) potential clinical utility for methamphetamine dependence. We look forward to the final results of the study which we expect by the first quarter of 2018,” said Mr. Iwaki

The company’s pipeline also includes MN-221 for the treatment of acute exacerbations of asthma and MN-029 for solid tumor cancers. MediciNova, Inc. (NASDAQ:MNOV) is currently engaged in strategic partnerships and other potential funding discussions to support the development of its clinical 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 MNOV 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.

Neos Therapeutics Inc (NASDAQ:NEOS)

Neos Therapeutics Inc (NASDAQ:NEOS) Shares Rocket on Acquisition Offer

Neos Therapeutics Inc (NASDAQ:NEOS)

Neos Therapeutics Inc (NASDAQ:NEOS) stock boomed today after the company revealed that they are reviewing an unsolicited proposal to acquire the Texas-based drug company. NEOS stock ended yesterday at $7.30, then gapped up to open at $9.50 before hitting an inter-day high of $10.90 on a volume figure that was ten times the average. With two hours left in the trading day, NEOS shares are trading around the $10 handle.

Neos Therapeutics Inc (NASDAQ:NEOS)

Acquisition history

The current acquisition proposal is from PDL BioPharma Inc (NASDAQ:PDLI). On June 23, 2017 PDL made an offer to acquire Neos Therapeutics for $10.25 per share in cash. That offer was studied and subsequently rejected by the Neos Board of Directors. The, on July 31, 2017, PDL Biopharma made another unsolicited acquisition offer at the same price.  Following the second offer, Neos entered into a confidentiality agreement with PDL to facilitate discussions. Following these discussions, PDL again made a proposal to acquire Neos for $10.25 per share, in cash. At that time, PDL Biopharma acknowledged that Neos Therapeutics Inc (NASDAQ:NEOS) was likely more valuable than the offer price. In deciding to recommend a rejection of the PDL offer at $10.25 per share, the Neos Board considered the successful path the company is taking in executing its strategy.

NEOS Stock Performance

Shares of Neos Therapeutics Inc (NASDAQ:NEOS) have done well without the acquisition offerings. YTD, NEOS stock is up 25%, and is up over 12% for the quarter. Prior to today’s action, NEOS stock had a 52-week high of $9.60 and a 52-week low of $4.85.

Sales have improved considerably over the past three years. In 2014, the company reported $800,000 in sales which was followed by $3.8 million in 2015, and $9.2 million for 2016. Unfortunately, losses have been a noted area of concern among investors. In 2014, NEOS shares lost (-$1.76), followed by a per share loss of (-$2.07), and a larger loss of (-$5.19) for 2016.

Three investment firms follow Neos Therapeutics Inc (NASDAQ:NEOS). One rates NEOS stock as a “Strong Buy” one rates the shares a “Buy” and one rates the shares a “Hold”.

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 $NEOS 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.

Sierra Oncology Inc. (NASDAQ:SRRA)

Sierra Oncology Inc. (NASDAQ:SRRA) Continues Uptrend

Sierra Oncology Inc. (NASDAQ:SRRA)

Sierra Oncology Inc. (NASDAQ:SRRA) traded higher after announcing the appointment of Dr. Andrew Allen to its Board of Directors. The stock was up by 12.6% in Wednesday’s trading session to end the day at $2.14 a share.

Sierra Oncology Inc. (NASDAQ:SRRA)

Wednesday’s rally saw the stock break a key resistance level at $1.90, affirming a bullish run that began in June. The stock is now up by more than 30% for the year as it continues to trade in a strong uptrend marked by a new 52-week high of $2.20 a share.

The appointment of Dr. Allen comes at a time when the clinical stage drug development company is advancing next-generation DNA Damage Response therapies for the treatment of patients with cancer. He joins the company with vast experience, having served as the Chief Executive of Gristone Oncology, and as Chief Medical Officer at Pharmion Corporation.

“I’ve been highly encouraged by the sophisticated approach Sierra is taking to developing SRA737, leveraging the rich biology of Chk1 synthetic lethality to incorporate prospective genomic profiling strategies to enhance patient selection in their trials and potentially improve their prospects for positive outcomes. I look forward to working closely with this outstanding team,” said Dr. Allen.

SRA737 Development

Sierra Oncology Inc. (NASDAQ:SRRA) will report preclinical data supporting the development of SRA737 at the upcoming AACR-NCI-EORTC International Conference on Molecular Targets and Cancer on October 26-30, 2017. The candidate drug is currently being investigated in two Phase 1 clinical trials in patients with advanced cancer.

The Chk1 inhibitor, SRA737 has been granted a selection patent by the U.S Patent and Trademark Office, which extends coverage until 2033. A similar European patent was issued in February. According to Sierra Oncology, the intellectual property establishes a solid foundation for the potential future commercialization of the promising candidate drug

“We anticipate generating additional intellectual property claims as we advance our DDR-focused research activities and our innovative genetics-driven clinical programs,” said CEO Nick Glover.

Q2 Financial Results

Separately, Sierra Oncology Inc. (NASDAQ:SRRA) reported a net loss of (-$10.3) million for the three months ended June 30, 2017, down from a net loss of (-$12.9) million reported a year ago. Cash and cash equivalent as of the end of the quarter stood at $125 million compared to $109 million as of December 31, 2016. According to the clinical stage company, the existing cash is sufficient to fund operations through mid-2019.

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 $SRRA 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.

Capricor Therapeutics Inc. (NASDAQ:CAPR)

Capricor Therapeutics Inc. (NASDAQ:CAPR) Spikes on Trial Expectations

Capricor Therapeutics Inc. (NASDAQ:CAPR)

Capricor Therapeutics Inc. (NASDAQ:CAPR) shares gained 9.09% after the clinical stage biotechnology company said it will make a presentation at the upcoming American Heart Association Scientific Sessions 2017 conference. The company is to present data from its HOPE-1 clinical trial, investigating CAP-1002 for the treatment of Duchenne Muscular Dystrophy in boys and young men.

Capricor Therapeutics Inc. (NASDAQ:CAPR)

Hope 1 Trial

The announcement appears to have triggered renewed interest in Capricor Therapeutics. The stock has been under pressure in recent trading sessions, after rising to multi-year highs of $3.50 a share. It is currently down by more than 10% for the year.

CAP-1002 is the company’s lead investigational product made up of allogeneic cardiosphere-derived cells. Capricor Therapeutics Inc. (NASDAQ:CAPR) has already reported meaningful improvements in cardiac and skeletal muscle function, on a six-month analysis of HOPE-1 trial.

“We look forward to sharing these new data at one of the world’s premier cardiovascular conferences and continuing our clinical development of CAP-1002 for the treatment of Duchenne muscular dystrophy,” said Linda Marbán, Ph.D., Capricor president, and CEO.

Capricor Therapeutics Inc. (NASDAQ:CAPR) plans to initiate patient enrollment for a randomized double-blind placebo-controlled HOPE-2 clinical trial, subject to regulatory approval. The trial will build on HOPE-1 trials that showed teens and young men in advanced stages of DMD experiencing meaningful improvements in cardiac and limb functions after a single dose of CAP-1002.

Duchenne muscular dystrophy is a devastating genetic disorder that results in muscle degeneration. The condition affects approximately 15,000 to 20,000 boys in the US and occurs in every 3,600 live male births across all races, cultures and countries. The medical condition leads to death before the age of 30.

Q2 Financial Results

Separately, Capricor Therapeutics Inc. (NASDAQ:CAPR) reported a net loss of (-$3.5) million or (-$0.16) per share for the second quarter, compared to a net loss of (-$4.7) million reported last year. The biotechnology company generated revenues of $996,000 for the quarter.

Capricor Therapeutics Inc. (NASDAQ:CAPR) exited the quarter with cash and cash equivalent of $12.3 million, compared to $16.2 million as of December 31, 2016. According to the company, the cash balance is sufficient to fund operations and meet all the company’s financial obligations through 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 $CAPR 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.