Last week, DARA BioSciences, Inc. (NASDAQ:DARA) filed an amended Form S/1 with the U.S. SEC announcing its intension to raise up to $20 million in cash over the very near-term. The offering will be led by Ladenburg Thalmann and H.C. Wainwright & Co. We remind investors that the company just recently raised $6.0 million in February 2014 under the previously filed Form S/3. The company exited 2013 with $3.4 million in cash on the books. We model operating burn in the first quarter of roughly $2.0 million, meaning that after fees, DARA should have exited the first quarter 2014 with still nearly $7 million on the books. DARA seeking $20 million now tells us two things: 1) There is no partnership on KRN5500, and 2) The commercial business that we originally stood strongly behind is going to take a lot longer than expected to reach profitability. DARA Biosciences Inc (NASDAQ:DARA) shares after opening at $2.03 moved to $2.04 on last trade day and at the end of the day closed at $1.83. Company price to sales ratio in past twelve months was calculated as 38.38 and price to cash ratio as 4.52. DARA Biosciences Inc (NASDAQ:DARA) showed a negative weekly performance of -29.62%.
Akebia (NASDAQ: AKBA) stock rocketed 55 percent last week. It leaped from below $17 to above $26, largely because of some highly bullish analyst reports. Those reports – including one from Morgan Stanley that set a price target of $90 within a year– fueled a 25 percent surge in the shares to above $21 on Monday. But as if to prove that it wasn’t too late for investors to climb aboard, the stock roared to another 25 percent gain the rest of the week, finishing above $26. That second move followed news that Akebia had completed a key phase-two test of its drug used to treat anemia associated with chronic kidney disease. The stock wasn’t done, either, rising another 83 cents to $26.92 in mid-afternoon trading on Monday. Akebia Therapeutics Inc (NASDAQ:AKBA) shares fell -5.73% in last trading session and ended the day on $25.49. AKBA return on equity ratio is recorded as 105.40% and its return on assets is -427.60%.
22nd Century Group Inc (NYSEMKT:XXII) went up 22.36%, the company recently declared that the Company entered into warrant amendments yesterday with existing warrant holders to eliminate almost all of the Company’s “derivative warrant liability.” 22nd Century Group had formerly issued certain warrants that contained anti-dilution provisions. 22nd Century Group Inc (NYSEMKT:XXII) shares moved down -7.26% in last trading session and was closed at $2.30, while trading in range of $ 2.23 – 2.54. 22nd Century Group Inc (NYSEMKT:XXII) year to date (YTD) performance is 7.48%.
Life Sci Advisors, LLC, a leading provider of investment research and investor relations services in the life sciences sector, announced that it has initiated coverage of Codexis, Inc. (NASDAQ: CDXS), a leader in bio catalysis focused on using their enzyme engineering platform to streamline chemical transformations for the pharmaceutical and fine chemicals industries. Bio catalysis is a low cost, safe, and environmentally friendly alternative to conventional chemistry approaches for manufacturing drugs. Codexis, Inc. (NASDAQ:CDXS) weekly performance is 1.69%. On last trading day company shares ended up $1.81. Codexis, Inc. (NASDAQ:CDXS) distance from 50-day simple moving average (SMA50) is -5.56%. Analysts mean target price for the company is $5.00.