NEW YORK, February 3, 2017 /PRNewswire/ --
Today's attention is redirected to the Biotech space which is engagedin the research and development of biological substances, primarily for the purpose of drug discovery and diagnostic development. The majority of Biotechnology companies' revenue is derived from either the sale or licensing of drugs and diagnostic tools.
California headquartered Mast Therapeutics Inc.'s shares declined 1.38%, closing Thursday's trading session at $0.13. The stock recorded a trading volume of 3.07 million shares. Shares of the Company have surged 28.20% in the last month, 83.14% over the previous three months, and 42.44% since the start of this year. The stock is trading 15.29% above its 50-day moving average. Additionally, shares of Mast Therapeutics, which develops therapies for serious or life-threatening diseases with significant unmet needs, have a Relative Strength Index (RSI) of 54.19.
On January 07th, 2017, Mast Therapeutics and Savara announced that the two companies have entered into a definitive merger agreement, under which Savara's stockholders will receive newly issued shares of Mast's common stock in exchange for their Savara's stock. The exchange ratio was determined using a pre-transaction valuation of $115 million for Savara's business, based on its latest priced investment round and an acquisition of assets of Serendex Pharmaceuticals A/S, and $36.5 million for Mast's business, a premium to the 20-day volume weighted average share price of Mast. As a result, current Mast's stockholders will collectively own approximately 24%, and Savara's stockholders will collectively own approximately 76%, of the combined company on a pro-forma basis. Visit us today and download your complete report on MSTX for free at:
On Thursday, shares in California headquartered MannKind Corp. recorded a trading volume of 14.84 million shares, which was above their three months average volume of 5.27 million shares. The stock plummeted 17.14%, ending the day at $0.59. The Company's shares have advanced 33.05% in the previous three months. The stock is trading below its 50-day moving average by 7.78%. Furthermore, shares of MannKind, which focuses on the discovery, development, and commercialization of therapeutic products for diabetes patients in the US, have an RSI of 42.23.
On February 01st, 2017, MannKind announced the launch of a new Titration Pack containing 60 - 4 unit cartridges, 60 - 8 unit cartridges and 60 - 12 unit cartridges of Afrezza (insulin human) Inhalation Powder. The Company stated that the new package is intended to simplify physician prescribing of Afrezza and allow patients greater dose flexibility in managing their diabetes, while potentially reducing the cost burden of multiple copays. The complimentary research report on MNKD can be accessed at:
Summit, New Jersey headquartered Celgene Corp.'s stock finished the day 1.59% lower at $115.54 with a total trading volume of 4.24 million shares. The Company's shares have gained 11.00% in the previous three months. The stock is trading above its 200-day moving average by 6.33%. Additionally, shares of Celgene, which discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases worldwide, have an RSI of 49.59.
On January 27th, 2017, Celgene International Sàrl, a wholly owned subsidiary of Celgene, announced that the European Medicines Agency's Committee for Medicinal Products for Human Use has adopted a positive opinion for the use of REVLIMID® as monotherapy for the maintenance treatment of adult patients with newly diagnosed multiple myeloma that have undergone autologous stem cell transplantation. Once approved by the European Commission, REVLIMID® will be the first and only licensed maintenance treatment available to these patients. Register for free on Stock-Callers.com and download the PDF research report on CELG at:
Shares in Miami, Florida headquartered Opko Health Inc. ended yesterday's session 1.39% lower at $8.51 with a total trading volume of 2.42 million shares. The stock is trading 14.80% below its 200-day moving average. Shares of the Company, which engages in the discovery, development, and commercialization of novel and proprietary technologies in the US, Ireland, Chile, Spain, Israel, and Mexico, have an RSI of 36.61.
On February 01st, 2017, OPKO announced that its subsidiary and business unit, GeneDx, is entering into a collaboration with the Deciphering Developmental Disorder (DDD) study led by the Wellcome Trust Sanger Institute. The DDD study aims to determine the clinical utility of leveraging advanced genomic technologies to diagnose patients with developmental disorders. This will be accomplished in two ways: (i) identifying novel genes and pathways for human genetic diseases and characterizing the associated phenotypes; and (ii) improving informatics and statistical methods to robustly diagnose patients with genetic condition. Get free access to your research report on OPK at:
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