Shares of Cerulean Pharma Inc. (NASDAQ:CERU) added 63.82% by the end of trading session at $2.49. For the current quarter, the 2 brokerage firms issuing adjusted earnings per share outlook have a consensus forecast of -$0.34/share, which would compare with -$0.39 in the year-ago quarter. The net percentage change is 13.18% over the last 12 months. The trading range in the same period had a highest hit of $4.33 while lowest level was $0.63. At the moment the price is 131.99% above its 50-day moving average and 78.39% above its 200-day moving average.
Cerulean Pharma Inc. (NASDAQ:CERU) on February 1, 2017 announced that its Board of Directors is conducting a comprehensive review of strategic alternatives focused on maximizing stockholder value. Cerulean has engaged investment bank, Aquilo Partners, L.P., as its financial advisor to assist in the strategic review process.
The intention of the strategic review is to evaluate potential alternatives such as the sale of the company, a merger, a business combination, a strategic investment into the company, or a sale, license or disposition of assets of the company. This process may not result in any transaction.
In its strategic review, the Board is considering, among other things, Cerulean’s clinical assets, NDC platform, and cash reserves as outlined below:
- Clinical assets: Cerulean’s platform-generated NDC programs, CRLX101 and CRLX301.
- NDC Platform: Cerulean’s Dynamic Tumor Targeting™ Platform which creates NDCs that are designed to provide safer and more effective cancer treatments.
- Cash Reserves: As of September 30, 2016, the Company had $38.1 million in cash and cash equivalents.
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) last exchanged hands at a price $0.45/share, registering a gain of 18.61%. Among 2 Wall Street analysts tracked by Thomson/First Call, the average PT for RNN is $2.5 but some of them are predicting the price to move at the $3 level. If the most optimistic analysts are correct, the expected total return from the current price would be 566.67. The number of shares traded in most recent trading day was 19.21M shares which averages 2.88M shares a day. Its previous fifty two week high was $0.5 and moved up 26.01% over the same time frame, currently having a market cap around $89.37 million. Shares have risen 179.85% over the trailing six months. At the moment, the stock trades 120.56% above its 50-day moving average and 104.92% above its 200-day moving average.
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) on February 27, 2017 announced financial results for the year ended December 31, 2016.
Rexahn’s cash and investments totaled approximately $20.3 million as of December 31, 2016, compared to approximately $23.4 million as of December 31, 2015. The decrease in cash and investments during the year ended December 31, 2016 was primarily due to $13.2 million of cash used in operating activities, offset by an aggregate $10.1 million of proceeds received from registered direct offerings in March and September 2016. Rexahn expects that its cash and investments as of December 31, 2016 will be sufficient to fund the company’s cash flow requirements for its current activities through the first half of 2018.
Research and development expenses were $10.1 million for the year ended December 31, 2016, compared to $12.1 million for the year ended December 31, 2015. The decrease in research and development in 2016 is primarily attributable to lower drug manufacturing costs due to a significant supply of drug candidates already being available from prior manufacturing campaigns.
General and administrative expenses for the year ended December 31, 2016 were approximately $6.3 million, compared to $6.1 million for the year ended December 31, 2015. The year over year increase is primarily attributable to an increase in personnel expenses. General and administrative expenses consist primarily of salaries and related expenses for executive, finance and other administrative personnel, recruitment expenses, professional fees, and other corporate expenses, including business development, investor relations, and general legal activities.
Rexahn’s loss from operations was $16.4 million and $18.3 million for the years ended December 31, 2016 and 2015, respectively. Rexahn’s net loss was $9.3 million, or $0.04 per share, for the year ended December 31, 2016, compared to a net loss of $14.4 million, or $0.08 per share, for the year ended December 31, 2015. Included in the net loss for the years ended December 31, 2016 and 2015 is an unrealized gain on the fair value of warrants of $5.5 million and 4.0 million, respectively. The fair value adjustments are primarily a result of the changes in the stock price between reporting periods and from the greater number of warrants outstanding in 2016 compared to 2015.