LipoScience, Inc. (Nasdaq:LPDX) announced the termination of its relationship with Health Diagnostics Laboratory, Inc. (“HDL Inc.”), one of its laboratory customers. On March 17, 2014, HDL Inc. began offering its own non-FDA cleared test for the measurement of low density lipoprotein particles (“LDL-P”). While the NMR LipoProfile® test may continue to be made available to HDL Inc. customers, LipoScience would like to ensure that physicians are able to differentiate with certainty which test result they are receiving. In order to ensure that patients and physicians are aware of and have unlimited access to the NMR LipoProfile® test, the only FDA-cleared and clinically validated test for measuring LDL-P and for managing patients with cardiovascular disease, LipoScience has terminated its contractual relationship with HDL Inc. The Company plans to mitigate the effects of loss of revenues from HDL Inc. by focusing on its relationships with other national, regional and local lab partners and by alerting physicians to use LipoScience lab partners that offer the NMR LipoProfile test. LipoScience Inc (NASDAQ:LPDX) stock opened today at $3.63 and is currently trading at $3.15. The stock showed a negative weekly performance of -5.75%.
Caesars Entertainment (Nasdaq:CZR) announced it will close Harrah’s Tunica. The property will cease operations on June 2, 2014. The difficult decision to close the property follows persistent declines in business and increased competition. Caesars Entertainment Corp (NASDAQ:CZR) stock opened at $19.50, in current trading session and currently is at $19.87, by loosing -5.74%. The 52 week range of $11.84-$26.74. Company’s market capitalization is $2.74 billion.
Zogenix, Inc. (Nasdaq:ZGNX), a pharmaceutical company developing and commercializing products for the treatment of pain-related conditions and central nervous system disorders, announced that James B. Breitmeyer, M.D., Ph.D., has been appointed as a new member of the Company’s Board of Directors. Zogenix, Inc. (NASDAQ:ZGNX) stock is currently trading at $2.90 .The EPS of the stock is -0.44. Company’s market capitalization is $404.65 million.
Endocyte, Inc. (Nasdaq:ECYT) announced the pricing of an underwritten public offering of 4,500,000 shares of its common stock at a price to the public of $21.00 per share. The gross proceeds to Endocyte from this offering, before deducting underwriting discounts and commissions and other offering expenses payable by Endocyte, will be approximately $94.5 million. Endocyte has also granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock. The offering is expected to close on or about April 2, 2014, subject to customary closing conditions. Endocyte anticipates using the net proceeds from the offering for working capital and general corporate purposes, including without limitation research and development expenses, including clinical trial costs, capital expenditures and general and administrative expenses. Endocyte, Inc. (NASDAQ:ECYT) stock opened the session at $22.10, and now is at $22.42. The 52 week range of the ECYT stock remained $8.18-$33.70 and the day range was $21.78-$22.60.
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