Regulus Therapeutics (RGLS) Plunges on FDA Decision; Knight Therapeutics Eyeing Potential In Protalix Biotherapeutics (PLX)
Shares of Regulus Therapeutics Inc. (Nasdaq:RGLS) plummeted more than 20% to touch a new 52-week low in the extended session Friday after the company said that the U.S. Food and Drug Administration (FDA) maintained the clinical hold – placed by the government agency in June last year – on its hepatitis C virus drug, RG-101.
RGLS stock closed at $2.25 with a total volume of 311,403 shares traded during the day.
Regulus Therapeutics,which focuses on the discovery and development of drugs that target RNAs to treat a range of diseases, has 52.92M shares outstanding. At close on Friday, the biopharmaceutical company had a market capitalization of $119.08M and RGLS stock one-year range was between $2.12 and $8.90 per share.
Protalix Biotherapeutics Inc. (NYSEMKT:PLX) stock climbed 11.71% (or +$0.065) to $0.62 on Friday’s trading session after Canada-based Knight Therapeutics Inc. (TSE:GUD) said it bought – for investment purposes – 6.2 million shares of the biopharmaceutical company at an average cost of $0.57 each.
Protalix Biotherapeutic, which focuses on the development and commercialization of recombinant therapeutic proteins based on its ProCellEx protein expression system, has 123.87M shares outstanding, market capitalization (intraday) of $76.8M and PLX stock 52-week range is from $0.26 to $0.96 per share.
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