Price and Volume Movers
Tokai Pharmaceuticals Inc. (NASDAQ:TKAI) shares surged to close up 20% to $1.21 on 40x average volume after trading up as much as 65% in early trading. The company announced a reverse merger will be formed with Otic Pharma Ltd, where the shareholders of Otic Pharma will become the majority owners (60%) of Tokai.
OvaScience (NASDAQ: OVAS) shares slumped to close down 55% to $1.34 on 16x average volume following its restructuring announcement in Wednesday’s after-hours session. The company will reduce its workforce by approximately 30% and will seek a new President and Chief Executive Officer while it will also slow its commercial expansion and reassess its ongoing clinical trials.
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) shares slumped 21% to $2.15 on 5x average volume following its announcement that it will issue 11,111,111 units at a price of $2.25 per unit for gross proceeds of $25m. Each unit consists of one share and one-half of a warrant to buy one share.
Other major price/volume movers:
Opexa Therapeutics Inc (NASDAQ:OPXA): $1.10; +24%; 1.5x
OncoGenex Pharmaceuticals Inc (NASDAQ:OGXI): $0.50; +9%; 4x
Lpath Inc (NASDAQ:LPTN): $3.08; -16%; 6x average volume.
Conatus Pharmaceuticals Inc (NASDAQ:CNAT): $3.77; -13%.
Sangamo Biosciences, Inc. (NASDAQ:SGMO): $2.90; -11%.
Intellia Therapeutics Inc (NASDAQ:NTLA): $14.46; -10%.
Full pipeline updates below:
Pipeline Database Updates
|Phase 2||Phase 2 interim data released January 3, 2017. Full data due 1Q 2017.|
|Phase 2||Phase 2 completion of enrollment announced December 22, 2016. Top-line data due 1Q 2017.|
|Phase 2b||Phase 2b data released December 22, 2016.|
|Phase 3||Phase 3 interim analysis completed December 22, 2016 by Data Monitoring Committee (DMC). Trial to continue.|