Biotech Gainers: Synta Pharmaceuticals Corp. (NASDAQ:SNTA), Arca Biopharma Inc (NASDAQ:ABIO), Athersys (NASDAQ:ATHX), Relypsa Inc (NASDAQ:RLYP), Ardelyx Inc (NASDAQ:ARDX)

Posted by on Jul 04, 2014

Synta Pharmaceuticals Corp. (NASDAQ:SNTA) on May 8 reported financial results for the first quarter ended March 31, 2014 and provided an update on recent corporate events. There were no revenues recognized in the first quarters of 2014 and 2013. Research and development expenses were $17.6 million for the first quarter in 2014, compared to $16.4 million for the same period in 2013. General and administrative expenses were $5.3 million for the first quarter in 2014, compared to $3.9 million for the same period in 2013. The Company reported a net loss of $23.6 million, or $0.28 per basic and diluted share, in the first quarter of 2014, compared to a net loss of $20.7 million, or $0.30 per basic and diluted share, for the same period in 2013. Synta Pharmaceuticals Corp. (NASDAQ:SNTA) weekly performance is 11.66%. On last trading day company shares ended up $4.50. Analysts mean target price for the company is $13.92. Synta Pharmaceuticals Corp. (NASDAQ:SNTA) distance from 50-day simple moving average (SMA50) is 7.80%.

On June 5, 2014, Arca Biopharma Inc (NASDAQ:ABIO) held it’s 2014 Annual Meeting of Stockholders (the “2014 Annual Meeting”) at which the Company’s stockholders voted upon (i) the election of Company nominees Dr. Michael R. Bristow and Mr. Robert E. Conway, to the Company’s Board of Directors (the “Board”) for a three-year term ending at the 2017 Annual Meeting of Stockholders and (ii) the ratification of the selection of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2014. Arca Biopharma Inc (NASDAQ:ABIO) shares advanced 8.78% in last trading session and ended the day on $1.61. ABIO return on assets is -51.20%. Arca Biopharma Inc (NASDAQ:ABIO) quarterly performance is -13.90%.

Zacks upgraded shares of Athersys, Inc (NASDAQ:ATHX) from an underperform rating to a neutral rating in a research note issued to investors on Monday. The firm currently has $1.80 price target on the stock. Athersys, Inc. (NASDAQ:ATHX) shares moved up 6.59% in last trading session and was closed at $1.94, while trading in range of $1.87 – $1.96. Athersys, Inc. (NASDAQ:ATHX) year to date (YTD) performance is -22.40%.

Relypsa, Inc. (NASDAQ:RLYP), a biopharmaceutical company, 19 June 2014 announced the election of Daniel K. Spiegelman, executive vice president and chief financial officer of BioMarin Pharmaceutical Inc., and Kenneth J. Hillan, president and chief executive officer of Achaogen, Inc., to its board of directors following the company’s annual meeting of stockholders held earlier today. Relypsa Inc (NASDAQ:RLYP) ended the last trading day at $26.33. Company weekly volatility is calculated as 6.19% and price to cash ratio as 11.29. Relypsa Inc (NASDAQ:RLYP) showed a positive weekly performance of 9.89%.

Ardelyx Inc. (NASDAQ:ARDX) major shareholder Ventures Vii Lp Cmea bought 316,826 shares of Ardelyx stock on the open market in a transaction that occurred on Tuesday, June 24th. The shares were purchased at an average price of $14.00 per share, for a total transaction of $4,435,564.00. Ardelyx Inc (NASDAQ:ARDX) net profit margin is -33.00% and weekly performance is 29.94%. On last trading day company shares ended up $20.44. Ardelyx Inc 28.01(NASDAQ:ARDX) distance from 50-day simple moving average (SMA50) is %.

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