MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX)
The Board of Directors of MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX) has authorized an independent financial advisory firm to explore strategic options to maximizing shareholder value. Since September, MBVX shares have been in a noticeable downtrend. However today’s news was met by the market positively and shares gained 20%. Often terminology using the words “options to maximize shareholder value” are seen as a strong signal that the company is putting itself on the block to be sold or merged.
MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX) is a clinical stage biopharmaceutical company that develops, and commercializes, proprietary human monoclonal antibody products and vaccines for the treatment of various cancers. MabVax has a pipeline of human monoclonal antibody products based on the protective immune responses generated by patients who have been immunized against targeted cancers. Its lead cancer vaccines targeting recurrent sarcoma and ovarian cancer are in proof-of-concept Phase II multi-center clinical trials.
It is likely that MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX) was running out of cash in a business that is highly competitive and quickly burns through. As of the latest available reports, the company’s cash/share value was only $0.07 – extremely low by any measure for the biotechnology sector. The shares have been on a rough ride. YTD they are down over 66% and for the year are down over 77%.
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.