To buy when others seemingly can’t sell fast enough takes a lot of guts but it can be one of the best ways to exploit Wall Street shortsightedness. Small-cap oncology immunotherapy biotech Celldex Therapeutics, Inc. (NASDAQ:CLDX) has gotten swept up in this biotech bubble-popping, even though the data from the company has generally been positive and supportive of the idea that this company has some promising high-potential drugs. Celldex Therapeutics, Inc. (NASDAQ:CLDX), shares after opening at $15.73 moved to $17.07 on last trade day and at the end of the day closed at $17.00. Company price to sales ratio in past twelve months was calculated as 370.06 and price to cash ratio as 5.01. Celldex Therapeutics, Inc. (NASDAQ:CLDX), showed a negative weekly performance of 4.44%.
On April 8, 2014, Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) announced the pricing of its previously announced public offering of 1,600,000 shares of its common stock at a public offering price of $64.00 per share. After deducting underwriting discounts and commissions and estimated offering expenses, Pacira will receive net proceeds of approximately $96.0 million in the offering. In addition, Pacira has granted the underwriters a 30-day option to purchase up to 240,000 additional shares of common stock. The offering is expected to close on or about April 14, 2014, subject to customary closing conditions. Pacira Pharmaceuticals Inc (NASDAQ:PCRX), shares advanced 11.35% in last trading session and ended the day on $72.88. PCRX, return on equity ratio is recorded as -158.90% and its return on assets is -49.40%. Pacira Pharmaceuticals Inc (NASDAQ:PCRX), yearly performance is 148.91%.
On March 28, 2014, Cytokinetics, Incorporated (Cytokinetics) announced that the COSMIC-HF (Chronic Oral Study of Myosin Activation to Increase Contractility in Heart Failure) expansion phase, has opened for enrollment. Cytokinetics stated that COSMIC-HF is a Phase II double-blind, randomized, placebo-controlled, multicenter clinical trial designed to assess the pharmacokinetics and tolerability of omecamtiv mecarbil dosing orally in patients with heart failure and left ventricular systolic dysfunction. According to the Company, the COSMIC-HF expansion phase will enroll approximately 450 patients randomized 1:1:1 to receive placebo, 25 mg, or 50 mg twice daily of omecamtiv mecarbil, with an escalation to the 50 mg dose depending on the plasma concentration of omecamtiv mecarbil following 2 weeks of oral dosing at 25 mg twice daily. Cytokinetics’ Senior Vice President of Clinical Research and Development and Chief Medical Officer, Andrew A. Wolff, M.D., FACC, stated, “The opening to enrollment of the expansion phase of COSMIC-HF is an important step forward in the evaluation of a plasma concentration-guided dose titration strategy for omecamtiv mecarbil in patients with heart failure. This international clinical trial has the potential to inform further clinical development strategies for omecamtiv mecarbil. Cytokinetics, Inc. (NASDAQ:CYTK), shares moved up 11.49% in last trading session and was closed at $9.90, while trading in range of $ 8.90 – 9.94. Cytokinetics, Inc. (NASDAQ:CYTK), year to date (YTD) performance is 52.31%.
On April 8, 2014, Venaxis, Inc. (NASDAQ:APPY), an vitro diagnostic company focused on obtaining FDA clearance for and commercializing its CE Marked APPY1(TM) Test, a rapid, multiple biomarker-based index assay for identifying patients that are at low risk for appendicitis, announced the closing of its previously announced underwritten public offering of 8,335,000 shares of its common stock at a price to the public of $2.40 per share. In addition, Venaxis has granted the underwriters a 30-day option to purchase up to an additional 1,250,250 shares of common stock solely to cover over-allotments, if any. Venaxis Inc (NASDAQ:APPY), weekly performance is -17.34%. On last trading day company shares ended up $2.24. Venaxis Inc (NASDAQ:APPY), distance from 50-day simple moving average (SMA50) is -13.03%. Analysts mean target Price for the company is $5.67.