RNN: Shares of Rexahn Pharmaceuticals dropped sharply during Monday's trading after the company announced a registered direct offering that would net Rexahn nearly ten million dollars.
Earlier in the year RNN was on the fly, partly due to an announcement that Teva had purchased a significant amount of company shares.
The dip in price that has resulted from Monday's direct offering could be a decent buying opportunity for those looking to re-load or take up a new position in the company which looks to be a nice 'Phase II' pick.
The Rexahn pipeline consists of three Phase II drugs that treat four indications and numerous preclinical products that would treat cancer.
RNN has proven to be a volatile pick over the recent past, so keep and eye on this one, as a rebound could be in store of the near term.
Additionally, results of the ongoing Serdaxin Phase IIb trial for major depressive disorder (MDD) are still on track to be announced later this year.
Disclosure: No position.
EPCT: Epicept also announced a registered direct offering on Monday, an offering that will raise nearly five million dollars for the company.
Epicept has released quite a bit of encouraging news over the past few months and still holds some significant potential over the long term, in my opinion.
Unlike RNN, EPCT shares traded sideways on Monday, not reacting to the announcement.
Disclosure: Long EPCT.
GNBT: In a demonstration of just how fact speculative biotech stocks can move, shares of Generex traded up again to open the new week, closing roughly a dime above where it traded just a week ago.
The move comes in anticipation of Wednesday's conference call where it is expected that Generex - presenting from the Nasdaq - will provide a detailed update on the ongoing clinical trials and path forward for the pipeline products.
GNBT should be on all radars this week, especially after such a significant move up in price.
Disclosure: Long GNBT.