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Tuesday 19 May 2015
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Bears of the Day: Teekay Tankers (NYSE:TNK), Gevo, (NASDAQ:GEVO), Oncothyreon (NASDAQ:ONTY), RadNet (NASDAQ:RDNT)

On Monday, Teekay Tankers Ltd. (NYSE:TNK)’s shares declined -6.74% to $5.81.

Teekay Tankers Ltd. (TNK) plans to release its financial results for the first quarter of 2015 before market open on Thursday, May 14, 2015.

The Company also plans to host a conference call on Thursday, May 14, 2015 at 1:00 p.m. (ET) to talk about the results for the first quarter of 2015.

Teekay Tankers Ltd. is engaged in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide. As of December 31, 2014, it owned 27 double-hulled conventional oil tankers, time-chartered in 8 Aframax tankers, and 4 long range 2 product tankers from third parties; and owned a 50% interest in 1 very large crude carrier.

Gevo, Inc. (NASDAQ:GEVO)’s shares dropped -13.77% to $4.57.

Gevo, Inc. (GEVO) declared that it has signed a planned alliance agreement with Alaska Airlines to purchase Gevo’s renewable jet fuel and fly the first-ever commercial flight on alcohol-to-jet fuel (ATJ).

The demonstration flight is predictable to occur after Gevo receives ASTM International certification for its fuel, sometime in mid to late 2015. Gevo has been working through the rigorous ASTM process for six years, which comprises extensive engine testing and data analysis by all of the major original equipment manufacturers to establish the specification for this drop in fuel. Once approved, this fuel can be seamlessly integrated into the existing distribution infrastructure and onto commercial aircraft.

Gevo, Inc., a renewable chemicals and biofuels company, focuses on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks.

At the end of Monday’s trade, Oncothyreon Inc (USA) (NASDAQ:ONTY)‘s shares dipped -12.57% to $1.53.

Oncothyreon Inc (USA) (ONTY) stated financial results for the first quarter ended March 31, 2015.

Net loss for the three months ended March 31, 2015 was $7.9 million, or $0.08 per basic and diluted share, contrast with a net loss of $9.6 million, or $0.14 per basic and diluted share, for the comparable period in 2014. The $1.7 million decrease in net loss was primarily attributable to the difference in the change in the fair value of warrant liability of $2.6 million offset by enhances in research and development of $1.0 million.

Oncothyreon Inc., a clinical-stage biopharmaceutical company, engages in the research and development of therapeutic products for the treatment of cancer. Its clinical-stage product candidates comprise ONT-380, an orally active and selective small-molecule HER2 inhibitor, which is in two Phase 1b trials, one in combination with Kadcyla and another in combination with Xeloda and/or Herceptin; and ONT-10, a therapeutic vaccine in Phase 1 trial targeting the Mucin 1 peptide antigen (MUC1) for use in various cancer indications, counting breast, thyroid, colon, stomach, pancreas, ovarian, and prostate, in addition to certain types of lung cancer.

RadNet Inc. (NASDAQ:RDNT), ended its Monday’s trading session with -14.11% loss, and closed at $7.55.

RadNet Inc. (RDNT) stated financial results for its first quarter of 2015.

Financial Results

For the first quarter of 2015, RadNet stated Revenue of $181.3 million, Adjusted EBITDA(1) of $20.2 million and Net Loss of $4.6 million, respectively. Revenue raised $12.4 million (or 7.3%), Adjusted EBITDA(1) reduced $7.5 million (or 27.0%) and Net Loss (not taking into account the tax adjusted loss from the extinguishment of debt in 2014) raised $3.5 million, respectively, over the first quarter of 2014. Per share Net Loss for the first quarter was $(0.11), contrast to a loss in the first quarter of 2014 of $(0.03) (not taking into account the tax adjusted loss from the extinguishment of debt in 2014), based upon a weighted average number of basic and diluted shares outstanding of 42.7 million and 40.0 million for these periods in 2015 and 2014, respectively. Interest expense reduced $1.8 million relative to the first quarter of 2014, and stock-based compensation expense raised $2.5 million during the first quarter of 2015.

RadNet, Inc. provides outpatient diagnostic imaging services in the United States. It offers various imaging services, counting magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology (X-ray), fluoroscopy, and other related procedures.

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