The Sangamo Biosciences, Inc. (NASDAQ:SGMO) on Mar. 20 announced the pricing of an underwritten public offering of common stock consisting of 4,444,444 shares at a public offering price of $22.50 per share. The gross proceeds to Sangamo from the public offering are expected to be approximately $100 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In connection with this offering, Sangamo granted to the underwriters a 30-day option to purchase an additional 666,666 shares of common stock. The offering is expected to close on or about March 26, 2014, subject to customary closing conditions. Sangamo Biosciences, Inc. (NASDAQ:SGMO) shares after opening at $21.50 moved to $21.59 on last trade day and at the end of the day closed at $19.80. Company price to sales ratio in past twelve months was calculated as 50.82 and price to cash ratio as 13.20.Sangamo Biosciences, Inc. (NASDAQ:SGMO) showed a negative weekly performance of -13.99%.
The Shareholders Foundation announces that an investor, who purchased shares of Galena Biopharma Inc (NASDAQ:GALE), filed a lawsuit in the U.S. District Court for District ofOregon the over alleged violations of Federal Securities Laws by Galena Biopharma Inc in connection with certain allegedly false and misleading statements made between November 6, 2013 and February 14, 2014.Galena Biopharma Inc (NASDAQ:GALE) shares fell -7.53% in last trading session and ended the day on $2.70. GALE return on equity ratio is recorded as -435.40% and its return on assets is -113.60%. Galena Biopharma Inc (NASDAQ:GALE) yearly performance is 39.90%.
Novavax (NASDAQ:NVAX) major shareholder Pharmaceuticals Ltd Cadila sold 3,000,000 shares of the stock on the open market in a transaction dated Friday, March 21st. The shares were sold at an average price of $4.95, for a total transaction of $14,850,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.Novavax, Inc. (NASDAQ:NVAX) shares moved down -11.75% in last trading session and was closed at $4.13, while trading in range of $3.94-$4.72.Novavax, Inc. (NASDAQ:NVAX) year to date performance is -19.34%.
Zogenix, Inc. (NASDAQ:ZGNX) may be heading for a big trouble as a clamor is growing for withdrawal of its powerful new painkiller Zohydro. The drug hit the headlines in 2013 when Zohydro it became the first all-hydrocodone pain reliever ever cleared by the USFD which also made it the first approved pure opiate. But as more and more people came to know about its addictive side its opposition has become stronger. A major point against this drug is that like other highly addictive opioid pills it has been designed to release a drug over time. It makes it easier for the drug abusers to crush and snort it for a stronger, faster high. The FDA had approved the drug despite the 11-2 vote in the advisory panel against Zohydro. Zogenix, Inc. (NASDAQ:ZGNX) weekly performance is -17.66%. On last trading day company shares ended up $3.03. Zogenix, Inc. (NASDAQ:ZGNX) distance from 50-day simple moving average is -29.03%. Analysts mean target price for the company is $5.73.
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