On June 11, 2014, Novavax, Inc. (NASDAQ:NVAX),announced the closing of the underwritten public offering priced on Thursday, June 5, 2014. The company issued 28,750,000 shares of its common stock, including 3,750,000 shares pursuant to the underwriters’ option to purchase additional shares. The shares were issued at $4.00 per share resulting in total gross proceeds from this offering of $115,000,000, before deducting the underwriters discount and offering expenses. Novavax, Inc. (NASDAQ:NVAX), weekly performance is -6.06%. On last trading day company shares ended up $4.34. Analysts mean target price for the company is $11.00. Novavax, Inc. (NASDAQ:NVAX), distance from 50-day simple moving average (SMA50) is -4.05%.
On June 30, 2014, MannKind Corporation (NASDAQ:MNKD), revealed on Friday that the Food and Drug Administration (FDA) approved its inhaled insulin, AFREZZA, used for improving glycemic control caused by diabetes mellitus in adult patients. MannKind Corporation (NASDAQ:MNKD), fell 2.22% in last trading session and ended the day on $9.69. NI, return on assets is -82.40%. MannKind Corporation (NASDAQ:MNKD), quarterly performance is 53.32%.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), CEO Jack Lief sold 223,525 shares of Arena Pharmaceuticals stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $5.85, for a total value of $1,307,621.25. Following the completion of the sale, the chief executive officer now directly owns 361,039 shares of the company’s stock, valued at approximately $2,112,078. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), shares moved down 5.29% in last trading session and was closed at $5.01, while trading in range of $4.98 – 5.25. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), year to date (YTD) performance is -14.36%.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)’s shares fell 2.93% and closed at $6.30. The company on June 12 announced the pricing of $200 million aggregate principal amount of its 3.625% convertible senior notes due 2019 (the “Notes”) in a private placement. The Notes will be offered by the initial purchasers only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). ARIAD also granted the initial purchasers of the Notes an option, exercisable for 30 days, to purchase up to an additional $30 million aggregate principal amount of the Notes on the same terms and conditions. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), ended the last trading day at $6.06. Company weekly volatility is calculated as 3.80% and price to cash ratio as 6.19. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), showed a negative weekly performance of -11.14%.