Market Overview

7 Biggest Mid-Day Losers For Wednesday

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  • Galena Biopharma Inc (NASDAQ: GALE) shares dropped 85 percent to $0.310 after the company reported the discontinuation of Phase 3 PRESENT clinical trial due to futility of study.
  • Lipocine Inc (NASDAQ: LPCN) shares tumbled 51.8 percent to $3.03 following announcement of a Complete Response Letter from the FDA. The response letter noted deficiencies in dosing algorithm on label.
  • Esperion Therapeutics Inc (NASDAQ: ESPR) shares fell 38.2 percent to $9.99 after failing to reach an agreement with the FDA regarding a definitive approval path for its ETC-1002, a cholesterol-lowering pill. JP Morgan downgraded Esperion Therapeutics from Overweight to Neutral and lowered the price target from $50.00 to $15.00, while Credit Suisse also downgraded the stock from Neutral to Underperform and lowered the price target from $23.00 to $10.00.
  • Eclipse Resources Corp (NYSE: ECR) shares declined 16 percent to $3.45. Eclipse Resources reported an offering of 37.5 million shares of common stock. The company also raised its production guidance to 205-210 MMcfe per day for 2016.
  • Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ: KTOV) shares dropped 10 percent to $3.05 as the company reported the pricing of its $12 million follow-on public offering in the U.S.A.
  • China Ceramics Co Ltd (NASDAQ: CCCL) shares fell 7.4 percent to $2.64 after the company reported the settlement of class action litigation.
  • Southwestern Energy Company (NYSE: SWN) shares slipped 5 percent to $13.19. Southwestern Energy reported a 75 million share offering to replay part of loan.

Posted-In: Mid-Day LosersNews Movers & Shakers Intraday Update Markets

 

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