Shares of Ophthotech Corp (NASDAQ:OPHT) moved higher on moderate volume following the biotech player reported that it moved into a licensing and commercialization deal with Novartis AG (NVS) for the macular degeneration treatment Fovista outside the United States. The agreement is priced up to $1 billion, Ophthotech stated. Ophthotech Corp (NASDAQ:OPHT) weekly performance is 28.60%. On last trading day company shares ended up $39.16. Analysts mean target price for the company is $54.75. Ophthotech Corp (NASDAQ:OPHT) distance from 50-day simple moving average (SMA50) is 17.16%.
Insmed Incorporated (NASDAQ:INSM) rose after the biopharmaceutical company announced data from its Phase 2 clinical trial of ARIKAYCE in treating resistant nontuberculous mycobacterial lung infections. The company revealed 78 of the 80 patients agreed to receive once-daily ARIKAYCE in addition to standard of care treatment for an additional 84 days at the conclusion of the double blind phase of the trial. Data from 68 of these patients were available for the poster at the American Thoracic Society, where Insmed presented the data Tuesday, and 21 of these patients were culture negative for NTM at Day 168.Insmed Incorporated (NASDAQ:INSM) shares advanced 6.72% in last trading session and ended the day on $13.97. INSM return on assets is -33.80%. Insmed Incorporated (NASDAQ:INSM) quarterly performance is -23.74%.
Chimerix Inc (NASDAQ:CMRX) announced the pricing of an underwritten public offering of 7,300,000 shares of its common stock at a price to the public of $14.22 per share. The gross proceeds to Chimerix from this offering, before deducting underwriting discounts and commissions and other offering expenses payable by Chimerix, are expected to be approximately $103.8 million. The offering is expected to close on or about May 27, 2014, subject to customary closing conditions. Chimerix Inc (NASDAQ:CMRX) anticipates using the net proceeds from the offering to fund its research and development efforts and for general corporate purposes, including working capital. Chimerix Inc (NASDAQ:CMRX) shares moved down -15.46% in last trading session and was closed at $14.22, while trading in range of $14.02 – $16.74. Chimerix Inc (NASDAQ:CMRX) year to date (YTD) performance is -5.89%.
On 14 MAY Transcept Pharmaceuticals Inc (NASDAQ:TSPT) board declares special dividend of $1.33 per share. The special dividend will be paid on June 3 to shareholders of record at the close of business on May 26. Transcept Pharmaceuticals Inc (NASDAQ:TSPT) ended the last trading day at $3.09. Company weekly volatility is calculated as 2.70% and price to cash ratio as 0.83. Transcept Pharmaceuticals Inc (NASDAQ:TSPT) showed a positive weekly performance of 5.46%.
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