Galena Biopharma Inc (NASDAQ:GALE):
The company’s RSI reading has hit 59.89. The stock edged higher by 6.80% to close previous trading session at USD 0.940.
The shares of the company fluctuated in the range of USD 0.59 and USD 2.39 in the course of 52 weeks. Over the three months, the company’s shares have declined by -36.50% and in the past one year, it has lost -35.63%. Additionally, the stock’s year to date performance has declined -36.07%. Over the last five days its shares have surged by 8.02% and in the past six months it has moved down -45.99%.
Further, the company is trading at a price to book ratio of 11.75. The stock’s weekly volatility is calculated as 8.26% and monthly volatility as 7.68% with ATR of 0.07, beta of 1.22 and price to cash ratio of 5.75.
Galena Biopharma Inc (GALE) announced the Company had a typographical error in its Form 10-K filed with the SEC on March 10, 2016 regarding a governmental investigation by the U.S. Attorney’s Office for the Southern District of Alabama.
The Risk Factor in the filing states the following:
A federal investigation of two of the high-prescribing physicians for Abstral has resulted in the criminal prosecution of the two physicians for alleged violations of the federal False Claims Act and other federal statutes. The criminal trial is set for some time in 2016. We have received a trial subpoena for documents in connection with that investigation and we have been in contact with the U.S. Attorney’s Office for the Southern District of Alabama, which is handling the criminal trial, and are cooperating in the production of documents.
The risk factor then incorrectly stated that Galena is a target or subject of that investigation. Galena is NOT a target or subject of that investigation, but is fully cooperating with the authorities on the matter.
Merrimack Pharmaceuticals Inc (NASDAQ:MACK):
The stock increased by 5.73% to close last trading session at USD 8.30. The company’s shares oscillated in the range of USD 7.78 and USD 8.53 during intraday trade.
A total of 2.54 million shares exchanged hands, above its 3 month average volume of 2.31 million shares. Over the last five days its shares have surged by 5.60% and in the past six months it has moved down -21.48%.
Furthermore, the stock has weekly volatility of 8.04% and monthly volatility of 8.65% with ATR of 0.53. The stock’s RSI is 68.71 and distance from 50-day simple moving average is 31.25%, whereas its distance from 20-day simple moving average is 23.34% and distance from 200-day simple moving average is -7.64%.
Merrimack Pharmaceuticals Inc (MACK) announced that it will present preclinical and clinical data on its extensive oncology pipeline at the 2016 American Association for Cancer Research (AACR) Annual Meeting, April 16-20, 2016 at the Ernest N. Morial Convention Center, New Orleans, Louisiana. Of particular focus will be preclinical data on the latest novel therapeutic developed from Merrimack’s nanoliposome platform and systems biology approach – MM-310, an ephrin receptor A2 (EphA2)-targeted nanoliposome delivering docetaxel.
EphA2 is a key receptor associated with poor prognosis and is shown to be overexpressed in several solid tumors including prostate, ovarian, gastric and lung cancer. In preclinical models, MM-310 has demonstrated that Merrimack’s proprietary delivery platform provides controlled biodistribution and sustained exposure of the drug at the site of the tumor. This design has shown improvement in antitumor activity while avoiding the hematologic toxicities common with docetaxel or the bleeding associated with a traditional antibody drug conjugate (ADC) format in preclinical models.