Biotech Stocks Worth Chasing: Cerulean Pharma Inc. (CERU), Rexahn Pharmaceuticals, Inc. (RNN)
Cerulean Pharma Inc. (CERU) ended last trading session with a change of 63.82 percent. It trades at an average volume of 1.45M shares versus 31.69M shares recorded at the end of last trading session. The share price of $2.49 is at a distance of 295.05 percent from its 52-week low and down -42.49 percent versus its peak. The company has a market cap of $68.18M and currently has 27.38M shares outstanding. The share price is currently 82.02 percent versus its SMA20, 131.99 percent versus its SMA50, and 78.39 percent versus its SMA200. The stock has a weekly performance of 80.43 percent and is 251.6 percent year-to-date as of the recent close.
On February 1, 2017 Cerulean Pharma Inc. (CERU) announced that its Board of Directors is conducting a comprehensive review of strategic alternatives focused on maximizing stockholder value. Cerulean has engaged investment bank, Aquilo Partners, L.P., as its financial advisor to assist in the strategic review process.
The intention of the strategic review is to evaluate potential alternatives such as the sale of the company, a merger, a business combination, a strategic investment into the company, or a sale, license or disposition of assets of the company. This process may not result in any transaction.
Rexahn Pharmaceuticals, Inc. (RNN) recently recorded 18.61 percent change and currently at $0.45 is 253.23 percent away from its 52-week low and down 4.33 percent versus its peak. It has a past 5-day performance of 86.61 percent and trades at an average volume of 2.88M shares. The stock has a 1-month performance of 142.88 percent and is 216.14 percent year-to-date as of the recent close. There were about 199.21M shares outstanding which made its market cap $89.37M. The share price is currently 73.77 percent versus its SMA20, 120.56 percent versus its SMA50, and 104.92 percent versus its SMA200.
On Feb. 27, 2017 Rexahn Pharmaceuticals, Inc. (RNN) announced financial results for the year ended December 31, 2016 and provided an update on the Company’s clinical development programs.
“In 2016, we made significant progress across our portfolio of drug candidates, setting up a potentially transformative year for the Company in 2017,” said Peter D. Suzdak, Ph.D., Chief Executive Officer of Rexahn. “We achieved a major clinical milestone with RX-3117, with the successful completion of the first stage and the initiation of the second stage of the Phase IIa study in pancreatic cancer and we look forward to the final readout of that study in the second half of this year.”