Two Biotech Stocks Are Just So Hot Right Now: CEL-SCI Corporation (CVM), Pain Therapeutics, Inc. (PTIE)
CEL-SCI Corporation (CVM) ended last trading session with a change of 1.22 percent. It trades at an average volume of 3.14M shares versus 2.78M shares recorded at the end of last trading session. The share price of $0.1 is at a distance of 66.17 percent from its 52-week low and down -83.92 percent versus its peak. The company has a market cap of $20.24M and currently has 203.03M shares outstanding. The share price is currently -9.71 percent versus its SMA20, -9.67 percent versus its SMA50, and -66.66 percent versus its SMA200. The stock has a weekly performance of -9.36 percent and is 42.43 percent year-to-date as of the recent close.
On March 9, 2017 CEL-SCI Corporation (CVM) announced it has entered into a definitive agreement with institutional investors for an offering of shares of common stock with gross proceeds of approximately $1.5 million in a registered direct offering. The closing of the offering is expected to take place on or about March 14, 2017, subject to the satisfaction of customary closing conditions.
In connection with the offering, the CEL-SCI will issue approximately 15 million registered shares of common stock at a purchase price of $0.10 per share. Concurrently in a private placement, the Company will issue warrants to purchase up to 15 million shares of its common stock. For each share of common stock purchased by an investor, such investor in the private placement will receive from the CEL-SCI an unregistered warrant to purchase one share of common stock. The warrants have an exercise price of $0.12 per share, will be exercisable upon the 6 month anniversary of the issue date, and will expire five and a half years from the issue date.
Pain Therapeutics, Inc. (PTIE) recently recorded 16.62 percent change and currently at $0.77 is 50.93 percent away from its 52-week low and down -74.34 percent versus its peak. It has a past 5-day performance of 35.36 percent and trades at an average volume of 353.01K shares. The stock has a 1-month performance of 28.32 percent and is 35.02 percent year-to-date as of the recent close. There were about 45.3M shares outstanding which made its market cap $34.88M. The share price is currently 30.09 percent versus its SMA20, 31.04 percent versus its SMA50, and -44.47 percent versus its SMA200.
On Feb. 17, 2017 Pain Therapeutics, Inc. (PTIE) reported financial results for the year ended December 31, 2016 and provided an update on recent developments. Net loss in 2016 was $14.9 million, or $0.33 per share, compared to a net loss in 2015 of $14.1 million, or $0.31 per share. Cash and investments were $18.7 million as of December 31, 2016, with no debt. In the first two quarters of 2017, the Company expects its quarterly net cash burn rate will range from $2.0 million to $2.5 million.