Cerulean Pharma, Inc. – Nasdaq: CERU
An announcement by the Board of Cerulean Pharma to explore strategic alternatives has sent shares higher on speculation that a sale may be in the works. CERU, traded on the Nasdaq under ticker CERU, ended trading Thursday at $0.93 and have reached a high of $1.49 in early trading on heavy volumes. The announcement was likely due to a Phase 2 clinical trial failure, in August, which led to Cerulean cutting half its workforce.
Waltham, MA-based Cerulean Pharma develops products to improve treatment options for cancer victims. The company developed the Dynamic Tumor Targeting™ Platform designed to selectively attack tumor cells, reduce toxicity by sparing the body’s normal cells, and enable therapeutic combinations. Cerulean’s lead platform-generated NDC clinical candidate, CRLX101, is in multiple clinical trials. Our lead indication is ovarian cancer. Our second platform-generated NDC clinical candidate, CRLX301, is in Phase 2a clinical development for the treatment of advanced solid tumors.
Cerulean sales peaked in 2012 when the company posted a figure of $600k. No sales were reported for 2015. CERU shares have never experienced positive EPS – losing more than $1.20 EPS in each of the past five years. CERU lost $1.56 EPS in 2015. Three firms rate CEU shares. One rates them as a “Strong Buy”, and the other rates CERU as a “Hold”. Their consensus price target is $1.50.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 9:23 AM EST||$ 1.34|
|Market Cap (mlns)||$ 25.49|
|Shares Outstanding (mlns)||27.38|
|Share Float (mlns)||24.66|
|Short Interest Ratio||2.01|