Celsion Corporation (NASDAQ:CLSN)
Celsion Corporation (NASDAQ:CLSN) stock was slightly higher today on the company’s announcement of positive data findings from its Phase Ib dose escalating clinical trial for the treatment of newly-diagnosed patients with Stage III and IV ovarian cancer. CLSN volume was over three times the listed average as the stock price ended the day at $1.75.
Ovarian cancer is the most lethal of gynecological malignancies among women, with an overall 5-year survival rate of 45%. There were approximately 22,000 new cases of ovarian cancer in the United States in 2014 with an estimated 14,000 deaths. Mortality rates for ovarian cancer declined very little in the last 40 years, due to lack of early detection tests and little improvement in treatments
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. Celsiuon’s lead products include 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.
Shares of Celsion Corporation (NASDAQ:CLSN) have been under pressure for some time. Almost 18% of the stock’s float is held by short-sellers. Since 2012, shareholders have experienced an annual per share loss. Adjusted for dilution, in 2012 the per share loss was (-$48.11) and that loss shrank in 2016 to (-$11.90). However, the number of shares outstanding continues to increase annually. In 2012 there were 550,000 shares outstanding and by 2016 that number grew to 1.85 million.
CLSN stock is down nearly 60% YTS and down nearly 90% for the year. What is noteworthy is that despite the company’s stock struggles in the market, two of the three analysts that follow the firm rate the shares a “Strong Buy” – 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.
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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.