GTx, Inc. (NASDAQ:GTXI) on 2 June announced positive results from a Phase 2, proof-of-concept, open-label clinical study evaluating enobosarm (GTx-024), a selective androgen receptor modulator (SARM), for the treatment of patients with androgen receptor (AR) positive and estrogen receptor (ER) positive metastatic breast cancer who have previously responded to hormonal therapy. The clinical data is being presented during the Breast Cancer-HER2/ER poster session at the 50th Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago. GTx, Inc. (NASDAQ:GTXI) weekly performance is -5.21%. On last trading day company shares ended up $1.37. Analysts mean target price for the company is $1.50. GTx, Inc. (NASDAQ:GTXI) distance from 50-day simple moving average (SMA50) is -6.84%.
Ophthotech Corp (NASDAQ:OPHT) major shareholder Svlsf Iv, Llc unloaded 931,869 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $40.99, for a total transaction of $38,197,310.31. Following the completion of the transaction, the insider now directly owns 119,593 shares in the company, valued at approximately $4,902,117. Ophthotech Corp (NASDAQ:OPHT) shares advanced 4.58% in last trading session and ended the day on $41.75. OPHT return on assets is -45.70%.Ophthotech Corp (NASDAQ:OPHT) quarterly performance is 10.86%.
OXiGENE Inc (NASDAQ:OXGN) has announced plans to raise cash through equity offering. And as much as the move will help the company to improve its cash position, it is not the best of the news for the existing shareholders because it will inevitably result in value dilution. However, the long-term result is more important than the temporary impact of stock dilution. OXiGENE Inc. (NASDAQ:OXGN) shares moved down -2.34% in last trading session and was closed at $2.50, while trading in range of $2.47 – $2.61. OXiGENE Inc. (NASDAQ:OXGN) year to date (YTD) performance is -0.79%.
Inovio Pharmaceuticals Inc. (NYSEMKT:INO) on May 30 announced that its previously announced 1-for-4 reverse stock split shall become effective at 5 P.M., Thursday, June 5, 2014, and trading of the Company’s common stock on a post-reverse split basis shall commence on Friday, June 6, 2014. Inovio Pharmaceuticals Inc. (NYSEMKT:INO) ended the last trading day at $2.28. Company weekly volatility is calculated as 6.32% and price to cash ratio as 4.70.Inovio Pharmaceuticals Inc. (NYSEMKT:INO) showed a positive weekly performance of 8.57%.
The U.S. could save almost $3 billion a year if Medicare patients were given Avastin instead of Lucentis to treat two diseases that could lead to blindness, according to a study in the journal Health Affairs. Both treatments are made by Basel, Switzerland-based Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) and work similarly in treating neovascular age- related macular degeneration and diabetic macular edema by targeting the retinal bleeding and swelling that’s the leading cause of blindness in older Americans. On last trading day company shares ended up $37.48.