Following U.S. Stocks were among the “Top Losers” during Friday’s trade: Geron Corporation (NASDAQ:GERN), CEL-SCI Corporation (NYSEMKT:CVM), NGL Energy Partners LP (NYSE:NGL), Axion Power International, Inc (NASDAQ:AXPW)
Their insights are depicted underneath:
Geron Corporation (NASDAQ:GERN)’s shares dwindled -7.41%, and closed at $3.50.
According to Thomson Reuters ONE, Geron Corporation (GERN), stated financial results for the fourth quarter and year ended December 31, 2014 and recent events.
Fourth Quarter 2014 Results:
Net loss for the fourth quarter of 2014 was $8.9 million, or $0.06 per share, contrast to $9.3 million, or $0.07 per share, for the comparable 2013 period. Proceeds for the fourth quarter of 2014 were $178,000 contrast to $225,000 for the comparable 2013 period. The corporation ended 2014 with $170.6 million in cash and investments, which comprised of receipt of an upfront payment of $35.0 million for the license rights granted by the corporation to Janssen Biotech, Inc. (“Janssen”) under the exclusive partnership and license contract (the “Partnership Contract”) reached between the parties in November 2014, which has been recorded as deferred proceed as of December 31, 2014.
Total operating expenses for the fourth quarter of 2014 were $9.2 million contrast to $9.5 million for the comparable 2013 period. Research and development expenses for the fourth quarter of 2014 were $4.4 million contrast to $5.1 million for the comparable 2013 period. General and administrative expenses for the fourth quarter of 2014 were $4.8 million contrast to $4.0 million for the comparable 2013 period. Operating expenses for the 2013 fourth quarter also comprised of restructuring charges of $430,000 in connection with the corporation`s decisions to discontinue its discovery research programs and close its research laboratory facility in 2013.
The decrease in research and development expenses for the fourth quarter of 2014, contrast to the same period in 2013, primarily reflects lower manufacturing costs for imetelstat drug product and reduced clinical trial expenses for the imetelstat trials in hematologic myeloid malignancies. The raise in general and administrative expenses for the fourth quarter of 2014, contrast to the same period in 2013, primarily reflects the net result of higher non-cash stock-based compensation expense, raised legal fees for the purported lawsuits filed against the corporation and transaction costs associated with the Partnership Contract with Janssen, partially offset by transaction costs associated with the closing of the stem cell divestiture transaction in October 2013.
Interest and other revenue for the fourth quarter of 2014 was $100,000 contrast to $115,000 for the comparable 2013 period. The decrease in interest and other revenue for the fourth quarter of 2014, contrast to the same period in 2013, primarily reflects the net result of a gain on the sale of excess laboratory equipment in connection with the closure of the corporation`s research laboratory facility in 2013, partially offset by higher interest revenue due to raised cash and investment balances with the receipt of $96.8 million in net cash proceeds from the underwritten public offering accomplished in February 2014.
Geron is a clinical stage biopharmaceutical corporation focused on the development of a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies.
CEL-SCI Corporation (NYSEMKT:CVM) declined -7.02%, and closed at $1.06.
According to BUSINESS WIRE, on March 3, CEL-SCI Corporation (CVM), declared that in February it has enrolled 25 patients with advanced primary, not yet treated, head and neck cancer into its global pivotal Phase III head and neck cancer trial for its investigational immunotherapy Multikine* (Leukocyte Interleukin, Injection). This follows January’s preceding record. A total of 377 patients have been enrolled in the world’s largest Phase III study in head and neck cancer as of February 28, 2015.
“We are happy to have achieved this successive month of record enrollment in 2015, particularly in light of the fact that February was a shorter month. During the month of February we also had a record number of patient screenings. During the month of February we also received clearance in the Philippines, Malaysia and Belarus to start patient enrollment in those countries. This is predictable to result in an even higher number of patients being enrolled in the study in March,” stated CEL-SCI Chief Executive Officer Geert Kersten.
The aim is to enroll a total of 880 patients through about 100 clinical centers in about 25 countries by the end of 2015.
Multikine (Leukocyte Interleukin, Injection) is an investigational immunotherapeutic agent that is being tested in an open-label, randomized, controlled, global pivotal Phase III clinical trial as a potential first-line treatment for advanced primary head and neck cancer.
NGL Energy Partners LP (NYSE:NGL) dipped - 6.69%, and closed at $27.04.
According to BUSINESS WIRE, NGL Energy Partners LP (NGL), declared it has priced its underwritten public offering of 6,250,000 ordinary units representing limited partner interests at $27.57 per ordinary unit. NGL also granted the underwriter a 30-day option to purchase up to 937,500 additional ordinary units. The offering is predictable to close on March 11, 2015, subject to customary closing conditions. NGL intends to use the net proceeds from this offering, counting any net proceeds from the underwriter’s exercise of its option to purchase additional ordinary units, to repay borrowings under its revolving credit facility and for general partnership purposes, counting capital expenditures and potential attainments.
Barclays is acting as the sole underwriter for the offering.
NGL Energy Partners LP (NGL) is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with five primary segments: water solutions, crude oil logistics, NGL logistics, refined products/renewables and retail propane.
Axion Power International, Inc (NASDAQ:AXPW) dropped -7.60%, and closed at $0.177, hitting new 52-week low of $0.17. The company has the market capitalization of $1.28M. The beta value of the stock is 1.24. On the other hand the stock’s volatility for the week is 33.58%, and for the month is 30.27%. The stock price to book value is $0.15, however price to sale value is $0.17.
Axion Power International, Inc. is engaged in the design, development, manufacture, and sale of advanced energy storage devices, components, and systems based on its patented PbC Technology.
