NEW YORK, October 31, 2016 /PRNewswire/ --
Growing concerns that a victory by Democratic nominee Hillary Clinton in the presidential election will result in tighter regulations on pricing for new drugs, continues to disturb the Biotechnology arena, which has already tanked 15.53% this year, as per Investopedia data. Today, Stock-Callers.com reviews the performances of Mast Therapeutics Inc. (NYSE MKT: MSTX), Array BioPharma Inc. (NASDAQ: ARRY), Galena Biopharma Inc. (NASDAQ: GALE), and Clovis Oncology Inc. (NASDAQ: CLVS) to see how they have fared over the last few trading sessions. Learn more about these stocks by accessing their free research reports at:
Shares in California headquartered Mast Therapeutics Inc. ended Friday's session flat at $0.08 with a total trading volume of 2.78 million shares. The stock is trading 72.77% below its 50-day moving average. Shares of the Company, which develops therapies for serious or life-threatening diseases with significant unmet needs, have a Relative Strength Index (RSI) of 32.10.
On October 17th, 2016, Mast Therapeutics announced that its wholly-owned subsidiary, Aires Pharmaceuticals, Inc., has entered into a collaborative agreement with Philips Respironics, Inc., the sleep and respiratory care business of Royal Philips related to the supply of Philips' I-neb® Adaptive Aersol Delivery (AAD™) devices and related consumables for the nebulized delivery of the Company's lead product candidate, AIR001, a sodium nitrite solution for intermittent inhalation. The I-neb® handheld AAD™ system is a small, portable and virtually silent vibrating mesh technology nebulizer system designed to deliver more precise, reproducible doses of medication faster than conventional jet or ultrasonic nebulizers. Free research report on MSTX is available at:
Colorado headquartered Array BioPharma Inc.'s shares saw a decline of 2.02%, closing the day at $5.83 with a total trading volume of 3.66 million shares. The stock has advanced 38.15% in the previous three months and on an YTD basis, each. The Company's shares are trading 18.15% above their 50-day moving average and 59.22% above their 200-day moving average. Additionally, shares of Array BioPharma, which focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia/Pacific, have an RSI of 48.40.
On October 25th, 2016, Array BioPharma announced that it will report financial results for Q1 FY17 and hold a conference call to discuss those results on November 1st, 2016 at 9:00 a.m. ET. Ron Squarer, Chief Executive Officer, will lead the call. The Complimentary research report on ARRY can be downloaded at:
Last Friday, shares in California-based Galena Biopharma Inc. dropped 5.64%, closing the session at $0.25. The stock recorded a trading volume of 3.76 million shares, which was higher than its three months average volume of 3.45 million shares. The Company's shares are trading 27.62% below their 50-day moving average. Furthermore, shares of Galena Biopharma, which focuses on developing and commercializing oncology therapeutics that address major unmet medical needs, have an RSI of 32.09.
As per notes files with the SEC on October 26th, 2016, the Special Meeting of stockholders of Galena Biopharma was held on October 21st, 2016. At the Meeting, the company's stockholders voted on the following proposals: i) to approve an amendment to the Company's Amended and Restated Certificate of Incorporation, to effect a reverse stock split of the outstanding shares of the Company's common stock, par value $0.0001 per share, at a ratio of not less than 1 for 2 and not greater than 1 for 20; ii) to authorize the issuance shares of the Company's common stock issuable upon the redemption, conversion or other satisfaction of the Company's obligations under its Amended and Restated 9% Original Issue Discount Senior Secured Debenture due November 10th, 2018 without the need for any limitation or cap on issuances as required by and in accordance with NASDAQ Marketplace Rule 5635(d). Visit us today and access our complete research report on GALE at:
Boulder, Colorado headquartered Clovis Oncology Inc.'s shares finished the session 0.94% lower at $30.58 with a total trading volume of 1.69 million shares. The stock has surged 103.32% in the previous three months. The Company's shares are trading above their 50-day and 200-day moving averages by 1.94% and 53.19%, respectively. Additionally, shares of Clovis Oncology, which focuses on acquiring, developing, and commercializing anti-cancer agents in the US, Europe, and internationally, have an RSI of 45.73.
On October 25th, 2016, research firm Chardan Capital Markets initiated a 'Sell' rating on the Company's stock, issuing a target price of $15 per share.
On October 27th, 2016, Clovis Oncology announced that it will publish its Q3 2016 financial results on November 3rd, 2016, after the close of the U.S. financial markets. Clovis' senior management will host a conference call and live audio webcast at 4:30 p.m. ET that day to discuss the company's results in greater detail. Get free access to your research report on CLVS at:
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Last updated on: 31/10/2016
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