Geron Corporation (NASDAQ:GERN) is facing a crisis and its stock price has tumbled in recent days primarily as the result of FDA halting the clinical trials of its new drug under development, Imetelstat. With Imetelstat being the only drug in the pipeline for Geron, this comes as a major blow. Geron Corporation (NASDAQ:GERN) stock opened at $1.70 in last session, and closed at $1.78, while the day range of GERN stock is $1.69-$1.95.The stock showed a negative weekly performance of -60.94%.
The upward movement of the stock was probably driven by the opinion of analysts at Wedbush that a partnership or acquisition of Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) was given approval for Northera by the Food and Drug Administration (FDA). Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) stock opened at $5.26, in last session and closed at $5.95, by gained 13.98%.The 52 week range was $1.68-$6.83.Company’s market capitalization is $466.68 million.
Pomerantz LLP on Mar. 12 has filed a class action lawsuit against Galena Biopharma Inc (NASDAQ:GALE) and certain of its officers. The class action, filed in United States District Court, District of Oregon, and docketed under 3:14-cv-00410-HZ, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Galena securities between March 12, 2013 and February 11, 2014, both dates inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Galena Biopharma Inc (NASDAQ:GALE) stock loosed -7.08% and finished the last session at $3.02. The EPS of the stock remained -0.38.Company’s market capitalization is $317.81 million.
The Rosen Law Firm announces that it is investigating potential securities fraud claims against CytRx Corporation (NASDAQ:CYTR) resulting from allegations that CytRx may have paid outsiders to inflate its stock price by publishing misleading articles while CytRx sold $86 million in new equity to investors. CytRx Corporation (NASDAQ:CYTR) stock opened the session at $4.80, and closed the session at $4.17.The 52 week range of the CYTR stock remained $1.95-$8.35% and the day range was $4.10-$4.86.