Following U.S. Stocks were among the “Top Losers” during Monday’s trade: Authentidate Holding Corp (NASDAQ:ADAT), AcelRx Pharmaceuticals Inc (NASDAQ:ACRX), Meru Networks, Inc (NASDAQ:MERU), Aoxing Pharmaceutical Company, Inc (NYSEMKT:AXN)
Their insights are depicted underneath:
Authentidate Holding Corp (NASDAQ:ADAT)’s shares dwindled -47.55%, and closed at $0.325, hitting new 52-week low of $0.31.
According to GLOBE NEWSWIRE, Authentidate Holding Corp. (ADAT), declared that its Board of Directors has rescheduled the Corporation’s annual meeting of stockholders to May 28, 2015 in Berkeley Heights, N.J. The meeting will be held at 10:00 a.m. New York time at the Corporation’s offices located at Connell Corporate Center, 300 Connell Drive, 5th Floor, Berkeley Heights, New Jersey 07922. The corporation will file new proxy materials shortly in connection with its rescheduled annual meeting of stockholders.
Authentidate Holding Corp. is a provider of secure web-based software applications and telehealth products and services that enable healthcare organizations to coordinate care for patients and enhance related administrative and clinical workflows.
AcelRx Pharmaceuticals Inc (NASDAQ:ACRX), declined -36.96%, and closed at $5.51, hitting new 52-week low of $5.07.
According to PRNewswire, AcelRx Pharmaceuticals, Inc. (ACRX), a specialty pharmaceutical corporation focused on the development and commercialization of innovative therapies for the treatment of acute pain, stated financial results for the three and twelve months ended December 31, 2014.
Full Year 2014 Financial Results:
For the year ended December 31, 2014, AcelRx stated a net loss of $33.4 million, or $0.77 basic net loss per share and $0.91 diluted net loss per share, contrast to $23.4 million net loss, or $0.59 basic and diluted net loss per share for 2013.
Proceed for 2014 was $5.2 million, counting the receipt of a $5 million milestone payment from Grunenthal for the filing of the Marketing Authorization Application, or MAA, for Zalviso in Europe. Proceed for 2013 was $29.5 million mainly from the upfront payment received from Grunenthal for the partnership contract signed in December 2013.
Research and development expenses for 2014 were $24.5 million, contrast to $26.3 million for 2013. The decrease in research and development expense for 2014 was primarily due to a high level of activity associated with Phase 3 clinical studies of Zalviso in 2013. General and administrative expenses were $18.3 million for 2014, contrast to $9.9 million for 2013. The raise was primarily due to an raise in headcount, market research programs and other activities in preparation for the potential commercialization of Zalviso.
As of December 31, 2014, AcelRx had cash, cash equivalents and investments of $75.4 million, contrast to $103.7 million at December 31, 2013. The decrease in cash during the year was driven by cash used in operations and investing activities of $40.2 million, primarily offset by the $10.0 million drawdown of the second tranche of the loan contract with Hercules and receipt of $1.9 million from the exercise of stock options and purchase of stock under the employee stock purchase plan.
AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical corporation focused on the development and commercialization of innovative therapies for the treatment of acute and breakthrough pain. AcelRx’s lead product candidate, Zalviso, is designed to improve the administration of moderate-to-severe acute pain in adult patients in the hospital setting by utilizing a high therapeutic index opioid, through a non-invasive delivery route via a pre-programmed, patient-controlled analgesia device.
Meru Networks, Inc (NASDAQ:MERU), dipped -32.20%, and closed at $1.60, hitting new 52-week low of $1.58.
According to Marketwired, Meru Networks, Inc. (MERU), a leader in intelligent Wi-Fi networking, has declared that public school Bradfield College has accomplished the first phase of its deployment of Meru Education-grade 802.11ac wireless technology throughout the school’s extensive site in Berkshire. The network will support up to 3,000 staff and student devices.
Bradfield College is part of the Rugby Group, which comprises Harrow School, Wellington College and Charterhouse School. A co-educational school for 13 to 18 year olds, Bradfield selected Meru’s Gigabit Wi-Fi when its existing Aruba network failed to deliver seamless coverage across the school’s mix of traditional and modern facilities. The previous network was unable to deliver sufficient capacity to meet the demands of more than 1,000 pupils, staff and contractors.
“Our previous Wi-Fi network caused some frustration with coverage dropping in and out depending on where you were in the school, and was particularly problematic in some of our older buildings, which date back over 150 years and have solid walls,” explains Trevor Benstock, Director of IT Services, Bradfield College. “The number of devices connecting to the network was also causing us headaches, with staff and pupils using up to three devices each, often simultaneously. That’s potentially thousands of devices all logging on at once.”
The school’s IT team worked alongside Meru to deploy more than 200 Meru AP832 802.11ac access points, with up to 10 in some buildings, and two main controllers. Phase I of the project has seen the Meru Wi-Fi installed in all of the primary buildings used for teaching and some of the boarding houses.
The network is also being used to support Firefly, the school’s Virtual Learning Environment (VLE), which enables students and teachers to organize their homework and create and access resources from anywhere. Phase II is predictable to comprise external wireless access covering the playing fields and the school’s recently renovated Greek Theatre, which plays host to performances during the summer term. In the future, the IT department anticipates to look at integrating the Wi-Fi with other systems such as CCTV.
Meru Networks (NASDAQ: MERU) is a leader in intelligent 802.11ac Wi-Fi solutions delivering uninterrupted user experience for education, healthcare, hospitality and enterprise.
Aoxing Pharmaceutical Company, Inc (NYSEMKT:AXN), dropped -17.46%, and closed at $1.23. The company has the market capitalization of $101.28M. The beta value of the stock is 3.04. On the other hand the stock’s volatility for the week is 29.12%, and for the month is 29.24%. The stock price to book value is $30.75, however price to sale value is $6.10. Analyst’s mean recommendation regarding this stock is 1.00. (where 1=Buy, 5=Sale).
Aoxing Pharmaceutical Corporation, Inc., a specialty pharmaceutical corporation, researches, develops, manufactures, and distributes various narcotic, pain-administration, and addiction treatment pharmaceutical products primarily in the People’s Republic of China.
