These four stocks saw increased action on the downside on Thursday as various catalysts led to increased trader interest and trading volume.
Oxygen Biotherapeutics (OXBT) – The pharma stock fell over 16% on Thursday after it announced that it entered into an agreement for the issuance and sale of an unregistered convertible note with a principal amount of $4.6 million and unregistered warrants in a private placement to an institutional investor. Upon consummation, the transaction is expected to result in gross proceeds of $4.6 million to Oxygen, excluding any proceeds from exercise of the Warrants and aggregate placement agent fees of approximately $276,000. Oxygen Biotherapeutics is developing topical and intravenous medical products that deliver oxygen to tissues in the body. The company is focused on developing therapeutics for wound healing, dermatologic indications, traumatic brain injury and decompression sickness.
GTx (NASDAQ:GTXI) – The biotech company's stock tumbled over 11% after it announced the pricing of its previously announced underwritten public offering of 10,000,000 shares of its common stock, offered at a price of $4.75 per share to the public. GTx is a biopharmaceutical company dedicated to the discovery, development and commercialization of small molecules that selectively target hormone pathways for the treatment of cancer, cancer supportive care and other serious medical conditions.
Aegerion Pharmaceuticals (NASDAQ:AEGR) – The stock slumped over 10% after the company announced that that the company concluded a pre-New Drug Application (NDA) meeting with the FDA related to its investigational drug candidate, lomitapide, for the treatment of homozygous familial hypercholesterolemia. Following the meeting, the company said it intends to proceed with its NDA submission as previously announced. The company had another announcement after the market closed; it said that it filed a registration statement on Form S-1 with the SEC relating to the underwritten public offering of 3,250,000 shares of its common stock by the company and 1,000,000 shares of its common stock by certain pre-IPO stockholders of the company.
Rainmaker Systems (RMKR) – The stock fell almost 17% after it announced the pricing of its registered direct offering of units consisting of one share of common stock and a warrant to purchase 0.40 shares of common stock. Under the terms of the transaction, Rainmaker will sell approximately 3.5 million shares of its common stock at a price of $1.05 per share, along with warrants to purchase approximately 1.4 million additional shares at $1.40 per share, to purchasers comprised of new investors and existing stockholders and 141,133 shares of its common stock at a price of $1.24 per share, along with warrants to purchase 56,457 additional shares at $1.40 per share, to members of the company's board of directors.
Disclosure: I have no positions in any stocks mentioned and no plans to initiate any positions within the next 72 hours.