Hot Stocks in Focus: Peregrine Pharmaceuticals, Acura Pharmaceuticals, Corcept Therapeutics Incorporated

Lakeway, TX -- (SBWIRE) -- 03/11/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Peregrine Pharmaceuticals (NASDAQ:PPHM) shares gained 12.86% to $1.58. The company announced that it will report financial results for the third quarter of the fiscal year (FY) 2013 on March 12, 2013 after market and will host a conference call and webcast at 1:30 PM Pacific Daylight Time (4:30 PM Eastern Daylight Time). Peregrine's senior management will discuss financial results for the third quarter ended January 31, 2013 of FY 2013 and will review recent progress of its clinical development programs.

Additionally, analysts at Piper Jaffray assumed coverage on shares of PPHM in a note issued to investors on Mar. 5. The firm set an “overweight” rating and a $2.50 price target on the stock.

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Acura Pharmaceuticals, Inc. (NASDAQ:ACUR) shares jumped 6.97% to $2.61. The company last week announced that its new next generation pseudoephedrine with abuse deterrent technology will now be stocked by chain drug store KERR DRUG. Nexafed [pseudoephedrine hydrochloride (HCl)], is a 30 mg immediate-release pseudoephedrine product that combines effective nasal-congestion relief with a unique technology that disrupts the conversion of pseudoephedrine into the dangerous drug, methamphetamine (meth).

Additionally, the company, on Mar. 4, announced financial results for the year and three months ended December 31, 2012. The Company reported a net loss of $3.0 million for the fourth quarter 2012 or $0.06 per diluted share, compared to net loss of $1.6 million or $0.03 per diluted share for the same period in 2011. The company recorded no revenue in either period.

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Corcept Therapeutics Incorporated (NASDAQ:CORT) stock increased 8.02% to $2.02. The company, on Mar. 7, reported its financial results for the fourth quarter and full year ended December 31, 2012. The company reported a net loss of $11.1 million, or $0.11 per share, for the fourth quarter of 2012, compared to a net loss of $9.9 million, or $0.12 per share for the same period in 2011.

For the fiscal year ended December 31, 2012, Corcept reported a net loss of $38.0 million, or $0.41 per share, compared to a net loss of $32.4 million, or $0.39 per share, for the full year 2011.

The company’s cash balance as of December 31, 2012 was $93.0 million, as compared to $39.6 million at December 31, 2011, and included net proceeds of (i) $13.6 million from our March 2012 warrant exchange and other warrant and option exercises, (ii) $46.1 million from our July 2012 sale of common stock and (iii) $29.9 million from our August 2012 capped royalty financing transaction, less $36.0 million spent on operations during the year.

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