Disappointing Trial Outcome for Cerulean Pharma (CERU); Insiders Confidence in Cobalt Intl Energy (CIE)
Cerulean Pharma Inc. (Nasdaq:CERU) shares slumped more than 50% to touch a new 52-week low in after-hours trading Wednesday as the clinical-stage company said that results from a Phase 2 clinical trial showed that its nanoparticle-drug conjugate CRLX101 combined with Avastin (bevacizumab) did not perform better than investigator’s choice therapy for progression-free survival (PFS) – the study’s primary endpoint – in patients with advanced renal cell carcinoma
CERU stock finished the regular session in negative territory by 4.20% (or -$0.12) at $2.74, with a total volume of 367,249 shares traded
Cerulean Pharma, which develops nanotechnology-based therapeutics in the areas of oncology and other diseases, has 27.38M Shares Outstanding. At close on Wednesday, the company had a Market Capitalization of $75.03M and CERU stock one-year range was between $1.82 and $5.20 per share
Shares of Cobalt International Energy, Inc. (NYSE:CIE) climbed over 8% in the extended session Wednesday after its CEO Timothy J. Cutt and CFO David D. Powell disclosed in a regulatory filing with the U.S. Securities and Exchange Commission (SEC) – separately, FORM 4 and FORM 4 respectively – the purchase of 100,000 shares of the company’s common stock each.
CIE stock closed at $1.05, up $0.06 (or +5.99%) and 4.23M of its shares changed hands during the day
Cobalt International Energy, which operates as an oil and gas exploration and production company, has 410.05M Shares Outstanding, Market Capitalization (intraday) of $434.86M and CIE stock 52-week range is from $0.77 to $9.43 per share
Disclaimer: The disclaimer is to be read and fully understood before using our site, or joining our email list. GalaxyStocks is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read full disclaimer at http://galaxystocks.com/disclaimer/