Exelixis Inc. (NASDAQ:EXEL) enjoyed robust stock volume Apr. 3, with 4,756,727 shares changing hands.
The South San Francisco-based biotech company that develops small molecule therapies for the treatment of cancer recently announced that the European Commission has approved COMETRIQ(R) (cabozantinib) for the treatment of adult patients with progressive, unresectable locally advanced or metastatic medullary thyroid carcinom.
The European Commission granted conditional marketing authorization following a positive opinion from the European Committee for Medicinal Products for Human Use (CHMP) issued in December 2013.
Exelixis’ latest annual financial report for the year ending Dec. 31, 2013 shows a loss of about $244 million.
Of the 8 analysts covering EXCEL, 5 recommend a "strong buy," while 3 recommend a "hold."
On Apr. 3, EXEL’s share price closed at $3.58, down 11 cents, from its close of $3.69 the previous day.
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Envivio Inc. Faces Possible Shareholder Lawsuit
In other news, Envivio Inc.’s (NASDAQ: ENVI) stock volume soared Apr. 4, with 477,257 shares changing hands, nearly three times more than its three-month average volume of 162,751 shares.
The upsurge in stock volume comes on the heels of two announcements both coming Apr. 2. The first announcement was that the IP video processing company had developed some new software. The second announcement was that a law firm was investigating Envivio based on unnamed shareholder claims.
Faces Potential Lawsuit
They included the allegation that “certain executive officers failed to disclose information about revenue growth during the class period and upon making the material information public, the stock decreased over 50%,” said securities lawyer Hamilton Lindley, in a written statement. "Our potential shareholder lawsuit will seek to ensure that all relevant information is disclosed and that the Envivio Inc. shareholders receive the highest price reasonably available for their stock."
It must be pointed out that no lawsuit has yet been filed and that all allegations are unproven. So far, Envivio has not commented on the investigation
Of the 2 analysts covering ENVI, both recommend a “hold.”
On Apr. 3, ENVI’s share price closed at $3.13, down 11 cents, from its close of $3.69 the previous day.
Unilife Corp. Stock Volume Soars
Meanwhile, Unilife Corp. (NASDAQ: UNIS) experienced robust stock volume Apr. 3, with 2,381,911 shares changing hands, nearly double its three-month average volume of 1,405,095 shares.
The company develops, manufactures and sells injectable drug delivery systems. It products include prefilled syringes, drug reconstitution delivery systems, auto-injectors, wearable injectors, ocular delivery systems and novel delivery systems.
Secures $60 Million In Financing
On Mar. 13, Unilife secured $60 million debt financing from OrbiMed Advisors. Under the terms of the agreement, 40 million was funded to Unilife at the closing of the deal. Provided the company is in compliance with the terms of the agreement, two additional payments of $10 million each will be provided to Unilife in December 2014 and June 2015.
Of the 5 analysts covering UNIS, 5 recommend a “strong buy.”
On Apr. 3, UNIS’s share price closed at $3.91, up 5 cents, from its close of $3.86 the previous day.
Still Waiting for KiOR Inc.’s 4Q Earnings Report
Finally, renewable energy company KiOR Inc.’s (NASDAQ: KiOR) stock volume soared Apr. 4, with 2,217,848 shares changing hands, which is substantially higher than its three-month average volume of 1,474,467 shares.
What’s behind the sudden stock-volume surge is anybody’s guess. That’s because the company has issued no press releases since Mar. 12, when KiOR made the unusual move of canceling its fourth quarter earnings call for 2013.
So far, there has been no news of the call being rescheduled.
The last annual financial report it filed for the year ending Dec. 31, 2013 show that the company lost about $347 million.
Of the 2 analysts covering KiOr, 1 recommends a “strong buy,” while 1 recommends a “hold.”
On Apr. 3, KiOR’s share price closed at 72 cents, down 9 cents, from its close of 81 cents the previous day.
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