Today was a big day for many small cap biotechs. Listed below are many of the ones that went far.
CNCE up 62% Sold cystic fibrosis drug to Vertex for $160M plus $90M if drug is approved. CNCE's drug, CTP-656 is a reformulation of Vertex's drug, Kalydeco, but it only needs to be taken orally once daily but Kalydeco needs to be taken twice daily.
This is a great deal for CNCE, they don't need to pay for any more trials, and don't have to worry about being sued by Vertex for using a formulation of their drug. Stock will likely keep going up tomm.
DXTR up 31%. Had news about data that says its cutting edge surgical instrument enables shorter hospital stays. Stock rallied in teh morning from the open even though it opened flat on the news that came in the PM. Stock reached its peak at about 11am to $1.95, but then faded throughout the rest of the day to end at $1.50. As Mook Trader pointed out in their latest 10-Q, the company is strapped for cash, is a going concern, and must raise capital. This was a buy at the open on the hidden news, but then a short at 11am.
BIOS up 23% BIOS had an earnings call at the end of the day on 3/3. They might have said some things to get investors excited about the company. Also Accesswire published a report on them, that often gets stocks pumped. Likely BIOS will retrace tomorrow since it's not up on solid news.
PIRS up 19% There wasn't any solid news making the stock go up today.
FLKS up 16% Isn't up on any news. Opened actually below the previous close. Stock will likely fade tomorrow since it's up on no news. Although the stock is down a lot from its 52 week high. It might just be an oversold bounce.
VBIV up 14%. Up big a consecutive day after a very powerful bullish article was written on Thestreet.com. It ended close to highs. Although I would think this stock should fade tomm because it isn't up on any news. It's just a pump. The 3rd day rule is in effect here, try and short or at least watch tomorrow.
HCM up 13% Up because the last trading day it reported positive results from a ph 3 trial for colorectal cancer. This could be a very good drug, although it is suspicious that the stock didn't immediatley go higher. It took awhile, and ended at HOD. This could also be a good short opp tomorrow. Put it on watch.
CCIH up 13%. Up bc it's selling some of its assets. This was news that came out at 8:14am in the premarket. Stock rallied at the open, reaching a high of $2.80 at 10am. Then it faded and continued fading throughout the day. Companies go up on news that they are selling their assets usually fade because they aren't creating anything.
MAGS up 12%. This is an Israeli cyber-security company. There's no news saying why it's up.
AUPH up 11% It seems as though investors are believing the company's data even though it's from 3rd world countries. That makes sense, there's no reason not to believe it, fraud is a very strong accusation. There was also news that the company will present its drug at a National kidney presentation. That is always a positive.
KURA down 27% - Updated clinical activity shows that the data isn't very good. The company seems to be in trouble. Because of immune therapy agents, it's hard to enroll patients in the US trial, so they're going to other countries. What if those countries get immune therapy agents as well? Then KURA's drug will be obsolete. Stock faded the whole day, plunged at the EOD.
NH down 23% - There could be some fraud going on with the company's founder. That he's making tax-exempt donations that are funneled back into his company. This seems like an unpredictable situation to make a trade.
GRVY down 21% - There aren't many downloads in the company's new apps.
SHLO down 18% Down off bad earnings.
PN down 16% Not sure why it's down. They delayed reporting their earnings for a week, is that the reason why? Hard to say.
CTMX down 15% Appears to be down off earnings. But very strange price action. The stock was red for most of the day, then really dumped at 3:50pm. It says the company beat Wall St. expectations, but still sold off big. No play here.
RRD down 12% Earnings was a week ago. Maybe this is a delayed reaction to mediocre earnings?
CELP down 12% The stock has been on an uptrend for the past couple of weeks. This could just be some air let out.
AFI down 11% - Down off bad earnings.
IPDN down 11% - The stock has gone on a tear lately. This is likely just some profit taking.
ZAIS down 10% - Stock went full round trip from the newsletter pump. It's almost back to pre-pump levels now, when it got pumped on 2/14 to over $4. Now its' back to the low $2s where it was on 2/13.