Three Stocks Disappointing Investors: Great Basin Scientific Inc (NASDAQ:GBSN), Exelixis, Inc. (NASDAQ:EXEL), EnteroMedics Inc (NASDAQ:ETRM)
By Donald Ramirez • December 28, 2015
On the trading floor, shares of Great Basin Scientific Inc (NASDAQ:GBSN) decreased -5.76% to close at $1.31. The $5.56M company on December 15, 2015 announced that the United States Patent and Trademark Office (USPTO) issued U.S. Patent 9200312 for the Company’s compositions for signal amplification. The underlying technology improves assay sensitivity; provides for detection of pathogens directly from clinical specimens such as blood, lung aspirates, urine, stool and swabs at low levels, without the need for time consuming and expensive techniques such as PCR; and can be utilized with all potential diagnostic targets, including nucleic acids and proteins. The patent protects development of highly-sensitive immunoassay-based testing with expanded targets on the Great Basin testing platform.
“Great Basin is committed to protecting our intellectual assets and innovations, and providing distinctive diagnostic solutions to our customers,” says Ryan Aston, co-founder and Chief Executive Officer of Great Basin. “With this patent, directed to our proprietary compositions for diagnostic assays, we further protect our ability to deliver to customers the cost, ease-of-use and versatility they need in a molecular diagnostic system.”
Exelixis, Inc. (NASDAQ:EXEL) closed at $5.29 with a decrease of -3.99%. The $1.20B company on December 23, 2015 announced that it has completed the submission of its rolling New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) for cabozantinib as a treatment for patients with advanced renal cell carcinoma (RCC) who have received one prior therapy. Exelixis has requested Priority Review as part of the NDA filing.
In August 2015, the FDA granted Breakthrough Therapy designation to cabozantinib for this potential advanced RCC indication. Breakthrough Therapy designation can expedite the development and review of drugs that are intended to treat serious or life-threatening diseases, and for which preliminary clinical evidence indicates the drug may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints. Drugs that receive Breakthrough Therapy designation may benefit from the involvement of FDA senior leadership in the review process, rolling submission, and other benefits. Prior to receiving Breakthrough Therapy designation, cabozantinib received Fast Track designation for its potential advanced RCC indication in April 2015.
“Completing the submission of our rolling New Drug Application brings us closer to our goal of improving the treatment options for patients with advanced kidney cancer,” said Michael M. Morrissey, Ph.D., president and chief executive officer of Exelixis. “Following the release of positive top-line results from our phase 3 pivotal trial in July, the Exelixis team worked expeditiously to complete the U.S. regulatory filing by year end. We look forward to continuing to work with the FDA team during the review process.”
EnteroMedics Inc (NASDAQ:ETRM) ended at $0.108 by losing -11.48%. The $11.49M company on December 23, 2015 announced shareholder approval for three proposals: an amendment to the Company’s Fifth Amended and Restated Certificate of Incorporation to effect a reverse split of its issued and outstanding shares of common stock; an increase in the number of shares of common stock authorized for issuance effective after the reverse stock split; and the issuance of shares of the Company’s common stock underlying convertible notes and warrants issued by EnteroMedics pursuant to the terms of a securities purchase agreement dated November 4, 2015.
With shareholder approval, the EnteroMedics Board of Directors has authorized a 1-for-15 reverse stock split of the Company’s common stock, which will be effective for trading purposes as of the commencement of trading on January 7, 2016. As of that date, each 15 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. Any fractional shares of common stock resulting from the reverse stock split will be rounded up to the nearest whole share and any fractional shares of common stock issuable pursuant to stock options or warrants will be rounded down to the nearest whole share. EnteroMedics stockholders will receive instructions from its transfer agent, Wells Fargo Bank National Association, as to procedures for exchanging existing stock certificates for new certificates or book-entry shares.
Under the terms of the November 4 securities purchase agreement, the Company will issue to five institutional investors $25.0 million of Senior Amortizing Convertible Notes (the “Notes”) and warrants (“Warrants”). $1.5 million of the Notes and Warrants were issued at the initial closing, with the balance to be issued in two tranches of $11.0 million and $12.5 million. The second closing will occur after the implementation of the reverse stock split, and the third closing will occur 45 days after the second closing. The Company currently intends to use the net proceeds from this offering to continue its commercialization efforts for the vBloc® Neurometabolic Therapy, for clinical and product development activities and for other working capital and general corporate purposes.
By Donald Ramirez • December 28, 2015
On the trading floor, shares of Great Basin Scientific Inc (NASDAQ:GBSN) decreased -5.76% to close at $1.31. The $5.56M company on December 15, 2015 announced that the United States Patent and Trademark Office (USPTO) issued U.S. Patent 9200312 for the Company’s compositions for signal amplification. The underlying technology improves assay sensitivity; provides for detection of pathogens directly from clinical specimens such as blood, lung aspirates, urine, stool and swabs at low levels, without the need for time consuming and expensive techniques such as PCR; and can be utilized with all potential diagnostic targets, including nucleic acids and proteins. The patent protects development of highly-sensitive immunoassay-based testing with expanded targets on the Great Basin testing platform.
“Great Basin is committed to protecting our intellectual assets and innovations, and providing distinctive diagnostic solutions to our customers,” says Ryan Aston, co-founder and Chief Executive Officer of Great Basin. “With this patent, directed to our proprietary compositions for diagnostic assays, we further protect our ability to deliver to customers the cost, ease-of-use and versatility they need in a molecular diagnostic system.”
Exelixis, Inc. (NASDAQ:EXEL) closed at $5.29 with a decrease of -3.99%. The $1.20B company on December 23, 2015 announced that it has completed the submission of its rolling New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) for cabozantinib as a treatment for patients with advanced renal cell carcinoma (RCC) who have received one prior therapy. Exelixis has requested Priority Review as part of the NDA filing.
In August 2015, the FDA granted Breakthrough Therapy designation to cabozantinib for this potential advanced RCC indication. Breakthrough Therapy designation can expedite the development and review of drugs that are intended to treat serious or life-threatening diseases, and for which preliminary clinical evidence indicates the drug may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints. Drugs that receive Breakthrough Therapy designation may benefit from the involvement of FDA senior leadership in the review process, rolling submission, and other benefits. Prior to receiving Breakthrough Therapy designation, cabozantinib received Fast Track designation for its potential advanced RCC indication in April 2015.
“Completing the submission of our rolling New Drug Application brings us closer to our goal of improving the treatment options for patients with advanced kidney cancer,” said Michael M. Morrissey, Ph.D., president and chief executive officer of Exelixis. “Following the release of positive top-line results from our phase 3 pivotal trial in July, the Exelixis team worked expeditiously to complete the U.S. regulatory filing by year end. We look forward to continuing to work with the FDA team during the review process.”
EnteroMedics Inc (NASDAQ:ETRM) ended at $0.108 by losing -11.48%. The $11.49M company on December 23, 2015 announced shareholder approval for three proposals: an amendment to the Company’s Fifth Amended and Restated Certificate of Incorporation to effect a reverse split of its issued and outstanding shares of common stock; an increase in the number of shares of common stock authorized for issuance effective after the reverse stock split; and the issuance of shares of the Company’s common stock underlying convertible notes and warrants issued by EnteroMedics pursuant to the terms of a securities purchase agreement dated November 4, 2015.
With shareholder approval, the EnteroMedics Board of Directors has authorized a 1-for-15 reverse stock split of the Company’s common stock, which will be effective for trading purposes as of the commencement of trading on January 7, 2016. As of that date, each 15 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. Any fractional shares of common stock resulting from the reverse stock split will be rounded up to the nearest whole share and any fractional shares of common stock issuable pursuant to stock options or warrants will be rounded down to the nearest whole share. EnteroMedics stockholders will receive instructions from its transfer agent, Wells Fargo Bank National Association, as to procedures for exchanging existing stock certificates for new certificates or book-entry shares.
Under the terms of the November 4 securities purchase agreement, the Company will issue to five institutional investors $25.0 million of Senior Amortizing Convertible Notes (the “Notes”) and warrants (“Warrants”). $1.5 million of the Notes and Warrants were issued at the initial closing, with the balance to be issued in two tranches of $11.0 million and $12.5 million. The second closing will occur after the implementation of the reverse stock split, and the third closing will occur 45 days after the second closing. The Company currently intends to use the net proceeds from this offering to continue its commercialization efforts for the vBloc® Neurometabolic Therapy, for clinical and product development activities and for other working capital and general corporate purposes.
I'm in it to win it!
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
