CorMedix, Inc. (NYSE:CRMD) moving in diverse range of trends as shares traded at $1.80 with fells of -13.04%. CorMedix Inc. (CRMD) declared that it currently didn’t have enough cash to fund operations through 2017, given expected clinical trial expenses. The company had $20.2 million cash on hand at the end of 2016, down from $35.4 million a year ago. CorMedix said in a statement that it was “exploring various funding opportunities” while it aims to optimize its cash, as it proceeds with a phase 3 trial of Neutrolin in hemodialysis patients.
Separately, CorMedix declared a 2016 loss of $24.6 million, or 65 cents a share, compared with a loss of $18.2 million, or 58 cents a share in 2015. Losses from operations were $24.8 million, resulting primarily from a important increase in clinical trial expenses, and new product development expenses. “We are committed to unlocking important long term value for our shareholders by successfully completing our Phase 3 studies and launching Neutrolin into a broad and sizable U.S. market upon potential approval.,” said Chief Executive KhosoBaluch. While past twelve months price to sales ratio recorded as 732.96 and price to cash ratio remained 3.63.
Can CorMedix, Inc. turn tables after this earnings announcement? Find Out Here Totally Free
Galena Biopharma, Inc. (NASDAQ:GALE) to close at $0.63 by are rising 0.85% with session volume was recorded 14.48 Million. A global investor rights law firm, Rosen Law Firm reminds purchasers of Galena Biopharma, Inc. securities (GALE) from August 11, 2014 through January 31, 2017, both dates inclusive of the April 14, 2017 lead plaintiff deadline in the class action first filed by Rosen Law Firm. This first filed lawsuit seeks to recover damages for Galena investors under the federal securities laws. No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. You may also remain an absent class member and do nothing at this point. You may retain counsel of your choice.
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Galena’s sales of Abstral were based on unsustainable sales and marketing practices; (2) such sales and marketing practices could subject Galena to a criminal investigation; and (3) as a result, Defendants’ statements about Galena’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. As concerns of stock price volatility, it was 14.33% for a week and 8.85% for a month.
How Galena Biopharma, Inc. surprised investors through its Earnings guidance? Find Out Here Totally Free
Viveve Medical, Inc. (NASDAQ:VIVE) walks on mix trends in market as shares build up 23.53% to at $5.25 having average volume of 46.14. Viveve Medical, Inc. (VIVE) reported that pricing of an underwritten public offering of 7,500,000 shares of its common stock at a public offering price of $4.00 per share, before underwriting discounts and commissions. In addition, Viveve has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
Cowen and Company, LLC and Raymond James & Associates, Inc. are acting as joint book-running managers of the offering. Ladenburg Thalmann& Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., is acting as co-manager. The offering is expected to close on or about March 22, 2017, subject to the satisfaction of customary closing conditions. The stock held beta value of 0.47, while return on equity ratio was -549.20%.
Can Viveve Medical, Inc. make its way to investors watch list? Get Your Free Report Here