Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar Health Inc. (NASDAQ:JAGX) Reports Stellar Q3 Financial Results

Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar Health Inc. (NASDAQ:JAGX) fell 2.7% after reporting its first quarterly financial results after merging with Napo Pharmaceuticals. The commercial stage natural-products pharmaceuticals company generated a net income of $4.75 million for the three months ended September 30, 2017.

Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar’s Revenue Growth

Jaguar Health Inc. (NASDAQ:JAGX) is still trading in a downtrend despite posting stellar financial results for the third quarter. The stock has shed more than 50% in market value since the start of the year as short sellers continue to push the stock lower. It awaits to be seen, the kind of impact that the Napo Pharmaceuticals merger will have on investor sentiments in the stock heading into the year-end.

According to data compiled by Zacks Investment Research, despite the underperformance, Jaguar Health Inc. (NASDAQ:JAGX) is currently rated as a “Strong Buy” by two analysts.

Net revenue in the quarter came in at $1.1 million made up of $346,000 for Mytesi, $82,000 for Neonorm and approximately $655,000 in collaboration revenue. Total net revenue for the third quarter of 2016 was $50,000. Average sales of Mytesi have increased over 50% since August.

“With the onboarding of three additional HIV sales personnel this month, and the refilling rate of Mytesi® prescriptions for a chronic disease, we expect continued growth for future Mytesi® sales,” said Lisa Conte, Jaguar Health Inc. (NASDAQ:JAGX)’s president, and CEO.

Mytesi revenue continues to increase because of increased marketing, advertising, medical education and promotional activities. Mytesi is a prescription treatment for diarrhea that works by normalizing the flow of water in the GI tract. It is the only FDA approved antidiarrheal therapy for the symptomatic relief of non-infectious diarrhea in adult patients.

For the first nine months of the year, revenue increased to $2.8 million compared to $113,000 reported last year. Jaguar Health Inc. (NASDAQ:JAGX) expects further growth in revenue heading into the year-end due to an increase in human-product revenue.

HIV Scientific Advisory Board

Separately, Dr. Roscoe Moore has joined the HIV Scientific Advisory board recently formed by Jaguar Health Inc. (NASDAQ:JAGX)’s wholly owned subsidiary, Napo Pharmaceuticals. The board will focus on physician education and global awareness regarding the importance and availability of solutions for neglected comorbidities.

“Neglected comorbidities such as HIV-related diarrhea play a significant role in patient adherence to ART Efforts to expand awareness about available solutions, such as Mytesi®, that address specific comorbidities play an important role in maximizing health and wellness in this population,” said Dr. Moore.

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 $JAGX 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.

Egalet Corp (NASDAQ:EGLT) Awarded Grant

Egalet Corp (NASDAQ:EGLT)

Shares of Egalet Corp (NASDAQ:EGLT) gained 1.49% after the company received a grant for the development of a novel oral delivery system for targeting therapeutic areas outside of pain. The grant from InnoBooster is for the development of a delivery system using the company’s Guardian technology.

Egalet Corp (NASDAQ:EGLT)

InnoBooster Grant Award

According to the Chief Executive Officer, Karsten Lindhardt, the grant provides non-dilutive funds for the research project. The funds will cover most of the external expenses needed for the preclinical stage of development.

“We believe the grant from InnoBooster demonstrates the breadth of applications of our Guardian Technology. This provides a fantastic opportunity for us to use a novel approach to potentially develop oral formulations of products that would normally be delivered via injection,” said Mr. Lindhardt.

Egalet Corp (NASDAQ:EGLT) continues to trade in a downtrend despite receiving support from a string of positive news in recent weeks. The specialty pharmaceutical company has shed more than 80% in market value since the start of the year. EGLT stock is currently languishing near its all-time lows and in dire need of a catalyst to motivate buyers .

Egalet-002 Development

Investor sentiments in the stock recently received a boost after the company reported topline results from a Phase 3 safety study evaluating safety of Egalet-002. The company is investigating Egalet-002 as an abuse deterrent using its proprietary Guardian Technology.

Trial results indicate that the abuse deterrent formulation was well tolerated. Adverse events reported were consistent with outcomes expected following treatment with oxycodone formulation.

“We believe the positive phase 3 safety study result validates this unique application of our Guardian Technology which was used to develop our abuse-deterrent, extended-release oxycodone, Egalet-002Given the ongoing issues of chronic pain and prescription abuse, we continue to believe there is a need for products like Egalet-002,” said CEO, Bob Radie.

In addition, Egalet Corp (NASDAQ:EGLT) is evaluating the safety and efficacy of Egalet-002 in patients with moderate-to severe chronic pain. The specialty pharmaceutical company exited the quarter with cash and cash equivalent of $102.1 million. According to the Chief Executive Officer, the cash balance and increased focus on non-narcotic innovative treatments strategically positions the company to play an important role in the prescription abuse crisis.

Separately, Egalet Corp (NASDAQ:EGLT) reported a net loss of (-$18.9) million or (-$0.46) a share for the three months ended September 30, 2017 compared to a net loss of (-$26.9) million reported last year. Net revenue in the quarter increased to $6.7 million from $4.7 million as of Q3 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 $EGLT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) Reports Q3 Earnings

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) shares dropped over 7%, on heavy volume, after the biotech company reported their Q3 2017 financial results. EBIO shares opened at $0.74, then dropped to a low of $0.64 before closing at $0.69. At current levels, EBIO shares are trading below their published cash per share value of $0.71, and their book value per share figure of $1.05.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) is a late-stage, clinical oncology company that develops therapies for cancer patients based upon the company’s proprietary targeted protein therapeutics (TPTs) platform. The company’s TPTs incorporate a tumor-targeting antibody fragment and a cytotoxic protein payload within a single protein molecule in order to achieve focused tumor cell killing. Eleven Biotherapeutics believes its TPT approach offers significant advantages in treating cancer over existing antibody drug conjugate technologies. Eleven Biotherapeutics promotes the idea that its TPTs provide effective tumor targeting with broader cancer cell-killing properties than generally achievable other treatments that require tumor cell proliferation to be effective and can face challenges overcoming multi-drug resistance mechanisms within tumor cells.

In November, Eleven Biotherapeutics Inc (NASDAQ:EBIO) completed a public offering of 5,525,000 shares of its common stock, pre-funded warrants to purchase an aggregate of 4,475,000 shares of common stock, and common warrants to purchase up to an aggregate of 10,000,000 shares of common stock, raising approximately $8.0 million in gross proceeds and $7.0 million in net proceeds.

Eleven Biotherapeutics Q3 Earnings

Eleven Biotherapeutics Inc (NASDAQ:EBIO) did not record any revenue for Q3 2017. In Q3 2016, the company reported revenue of $28.7 million. This difference was due to revenue recognized in 2016 from the company’s license agreement with Roche. Roche’s next licensing milestone payment will be triggered upon commencement of a Phase 2 clinical trial by Roche.

Net loss for Q3 2017 was (-$9.1) million, or (-$0.37) per share, versus net income of $19.5 million, or $0.95 per basic share and $0.91 per diluted share, for the same period in 2016. The change was primarily the result of revenue recognized in 2016 from the company’s license agreement with Roche.

Research and development expenses were $3.6 million, compared to $2.8 million for the same period in 2016. Cash and cash equivalents were $11.3 million.

EBIO Stock Performance

Per share earnings for the biotech company have been on an upward trend ever since 2013, when the company reported a loss of (-$16.19). Losses contracted annually and in 2016 a EPS profit of $0.01 was posted. Last year, due to the Roche licensing agreement, the company reported some sales of $30 million. A number that that could be considered “material” for the first time in its existence. However, the company has a consistent history of diluting shareholder equity. In 2013 the number of outstanding shares stood at 1.35 million, then continued to expand on an annual basis. In 2016 the company ended the year with 21.08 million shares outstanding.

For the year, EBIO shares have lost 70%, and, for the month, the shares have lost 45% in value. Despite performance that lags the markets, and its sector, EBIO shares are rated “Market Perform” and “Strong Buy” by the two investment firms that follow the company. Their consensus, one-year price target is $12.

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: 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.

Acasti Pharma Inc (NASDAQ:ACST)

Acasti Pharma Inc (NASDAQ:ACST) Booms on Possible Deal

Acasti Pharma Inc (NASDAQ:ACST)

Acasti Pharma Inc (NASDAQ:ACST) stock was up over 155%, to $3.25, before retreating in the first 45 minutes of trading to the $2.25 handle for a 75%+ gain over Friday’s close of $1.27. Volume has been massive – almost 1,900 times the daily average. The move comes after the biopharmaceutical company announced entering into a non-binding, licensing term sheet with a leading China-based pharmaceutical company.

Acasti Pharma Inc (NASDAQ:ACST)

Acasti Pharma Inc (NASDAQ:ACST), headquartered in Quebec, Canada, is a biopharmaceutical company that is developing the cardiovascular drug, CaPre (omega-3 phospholipid), for the treatment of hypertriglyceridemia. This condition affects an estimated one third of the U.S. population. The company’s strategy is to initially develop and commercialize CaPre for the 3 to 4 million patients in the U.S. with severe hypertriglyceridemia.

Acasti Deal

At this stage, the licensing deal is non-binding. Upon its execution, the proposed term sheet expects that Acasti would receive an upfront payment of $8 million, additionally there would be regulatory and commercial milestone payments in excess of $125 million, and tiered double-digit royalties on net sales.

The deal grants an exclusive license to the Chinese pharmaceutical company to commercialize CaPre in China and other specified Asian countries. With the high prevalence of hypertriglyceridemia in Asia, this potential partnership presents a significant commercial opportunity for both Acasti Pharma Inc (NASDAQ:ACST) and CaPre.

Acasti’s press release specifies that the deal is not yet agreed to, and conditions and terms may change from those that have been released to the public.

ACST Stock Performance

Shares of Acasti Pharma Inc (NASDAQ:ACST) have been largely flat for the year, losing 5.2% prior to today’s price action. It has been trading in a range between $1.20 and $1.40 for most of 2016 and 2017, but briefly spiked to hit a 52-week high of $2.46.

In August, the company reported its Q1 2018 financial results. Its net loss was C(-$2.8) million or C(-$0.19) per share which was an improvement on its performance for the same period of the prior year when the loss was C(-$3.2) million or C(-$0.29) per share.

Acasti Pharma Inc (NASDAQ:ACST) has a low float figure of 8.1 million shares which makes it a favorite of momentum traders. ACST stock has a Relative Strength Index score of 90 which places it well into the metric’s range that most observers consider to be in “overbought” status.

ACST shares have a listed one-year target share price of $8.21.

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 $ACST 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.

Heat Biologics Inc. (NASDAQ:HTBX)

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

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

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

Heat Biologics Inc. (NASDAQ:HTBX)

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

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

HTBX Investor Reaction

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

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

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

Heat Biologics Q3 Financials

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

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

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

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

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

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

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Arca Biopharma Inc. (NASDAQ:ABIO)

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

Arca Biopharma Inc. (NASDAQ:ABIO)

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

Arca Biopharma Inc. (NASDAQ:ABIO)

ABIO Stock Performance

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

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

AB171 Development

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

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

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

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

Arca Q3 Financial Results

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

Arca Biopharma Inc. (NASDAQ:ABIO) exited the quarter with cash and cash equivalent of $16 million compared to $23.5 million as of December 31, 2016. The cash balance is sufficient to fund operations and projected cost structure through the end of the second quarter of 2018.

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

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

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Egalet Corp (NASDAQ:EGLT)

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

Egalet Corp (NASDAQ:EGLT)

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

Egalet Corp (NASDAQ:EGLT)

Egalet-002 Top Line Results

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

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

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

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

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

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

Egalet Q3 Financial Results

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

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

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

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

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Why Anthera Pharmaceuticals Inc (NASDAQ:ANTH) Jumped

Anthera Pharmaceuticals Inc (NASDAQ:ANTH)

Anthera Pharmaceuticals Inc (NASDAQ:ANTH) shares closed up 10%, and had two closing days above the $2 level for the first time since May of 2017. The catalyst for the stock’s upward momentum, on a day when markets sold off, seems to be an article authored by a CFA specializing in the biotech space. The analyst rates the shares a “Buy”.

Anthera Pharmaceuticals Inc (NASDAQ:ANTH)

Anthera Pharmaceuticals Inc (NASDAQ:ANTH) is a biopharmaceutical company that develops and commercializes therapies to treat serious diseases associated with inflammation, including enzyme replacement therapies and autoimmune diseases. Anthera has two Phase III product candidates, liprotamase also known as Sollpura and blisibimod. Sollpura is a non-porcine investigational Pancreatic Enzyme Replacement Therapy intended for the treatment of patients suffering from Exocrine Pancreatic Insufficiency, often seen in patients with cystic fibrosis.

Analysts on Anthera

Three analysts follow Anthera Pharmaceuticals Inc (NASDAQ:ANTH). One rates ANTH as a “Strong Buy”, while the other two rate the shares as a “Hold”. The analysts have a consensus, one-year price target of $2.00 on the shares – $0.31 below today’s close. For FY2017, analysts are projecting an EPS loss of (-$3.34).

ANTH Stock Performance

For the year, ANTH stock is down over 85%. However, the shares are up 45% for the past month.

In 2015, Anthera posted sales of $3.2 million but for 2016 the figure was a disappointing $100,000. Earnings have been disappointing as well. In 2012, the biotech firm reported an earnings loss of (-$50.19). The next year the loss was (-$13.52), followed in 2014 by a loss of (-$10.88), then (-$7.91) for 2015, and in 2016, the loss was (-$12.87).

There are a number of short-sellers on ANTH stock. Their short positions represent 15% of the stock’s float.

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 $ANTH 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.

Sunshine Heart Inc (NASDAQ:CHFS) Stocks Skyrockets on SEC Filing

Sunshine Heart Inc (NASDAQ:CHFS)

Short-sellers of Sunshine Heart Inc (NASDAQ:CHFS) felt the pain today as the stock rocketed up over 500% in early afternoon trading, but have hit strong resistance at the $25 mark. While there has been no news released concerning the company, reports suggesting a catalyst for the upward move reference an SEC filing for a public offering of preferred stock and warrants.

Sunshine Heart Inc (NASDAQ:CHFS)

The filing details a potential offering of preferred shares and warrants totaling $32 million. The unit offering involves $10 million of preferred shares and $22 million of common shares that would be exercisable by the warrant holder(s). The 10,000 preferred shares would be exercisable into 2.141 million common shares of CHFS. The 22 million warrants could be converted into 4.282 million common shares of CHFS. The pricing of the public offering was not disclosed in the filing. In April, 2017, CHFS stock plunged 30% on the news of a dilutive offering of common shares.

About Sunshine Heart

A cardiac surgeon founded Eden Prarie, MN-based Sunshine Heart, Inc (NASDAQ:CHFS). Sunshine Heart is a medical device company that creates, develops, and commercializes technologies that address heart failure. The EU regulatory authorities have granted a CE Mark to their C-Pulse Heart Assist System. In the USA, the system is undergoing clinical studies to determine its safety and efficacy for the treatment of moderate to severe heart failure.

Sunshine Heart, Inc (NASDAQ:CHFS) lead product is the Aquadex FlexFlow® ultrafiltration system. The Aquadex FlexFlow system removes excess fluid from patients suffering from fluid overload who have failed diuretic therapy. Heart failure is the leading cause of fluid overload. The American Heart Association estimates that 6.5 million people in the United States, age 20 and over, had heart failure. There are an estimated 960,000 new heart failure cases annually. Annual hospitalizations for heart failure exceed 1 million in United States and Europe, and more than 90% are due to symptoms and signs of fluid overload.

CHFS Stock Developments

On October 10, 2017, Sunshine Heart, Inc (NASDAQ:CHFS) stockholders approved, later approved by the Board of Directors, a reverse 1:20 stock split. That move was in response to a notification from The NASDAQ Stock Market LLC informing Sunshine Heart that they were no longer in compliance with the minimum bid price requirement, as the bid price of shares of CHFS common stock closed below the minimum $1.00 per share threshold for 30 consecutive business days. Nasdaq also notified the company that they had 180 calendar days, or until November 28, 2017, to regain compliance.

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 $CHFS 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.

CASI Pharmaceuticals Inc. (NASDAQ:CASI)

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

CASI Pharmaceuticals Inc. (NASDAQ:CASI)

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

CASI Pharmaceuticals Inc. (NASDAQ:CASI)

Declining Net Loss

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

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

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

CASI Stock Performance

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

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

Public Offering

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

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

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

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

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.