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Los Angelas, CA -- (SBWIRE) -- 10/08/2012 -- Cell Therapeutics (NCM:CTIC) plans to use the net proceeds from this offering to support the launch of Pixuvri™ (pixantrone) in Europe and to commence phase III trials of pacritinib as well as for general corporate purposes. Cell Therapeutics reported EPS of -3.126. For the Current Fiscal year, the company is expected to report EPS of -3.00. For the Next Quarter and Next Year, the company is expected to report EPS of -0.50 and -2.50 respectively. At Current Market Price, CTIC is in distance of -36.36% from its 50-day Moving Average price of $2.4066 and -59.85% from its 200-day Moving Average price of $3.8145. Cell Therapeutics, Inc. (CTIC) announced that it will be offering for sale 60,000 shares of preferred stock at $1,000 per share that will raise $60 million before expenses. The offering, if totally subscribed, will increase the total outstanding number of shares by 42.9 million. Total current shares outstanding are 42.5 million, therefore shareholders will be diluted by about 50%. The market didn't take the news so well and the stock plunged by 25% on Friday.
Can CTIC Bounce Back From Here
While the drug portfolio of pharmaceutical manufacturer Pfizer (NYSE:PFE) remains unmatched, U.S. patent protection for two of its biggest drugs, Lipitor and Protonix, ended in 2011, leaving analysts to speculate whether Pfizer has a pipeline large enough to replace its largest earners. Lipitor generated $9.6 billion in sales in 2011. Pfizer, Inc. Comm (NYSE:PFE) is very active today and traded between $25.37 - 25.59 with total traded volume of 24666484 shares. At a current price of 25.52, PFE is +0.17 - +0.67% from the previous close of $25.35. Moreover, At Current Market Price, PFE is in distance of +5.01% from its 50-day Moving Average price of $24.3031 and +10.44% from its 200-day Moving Average price of $23.1071. But since patent protection has ended, numerous generic versions of the drug have provided staunch competition. Currently, Pfizer has 87 drugs in its pipeline in early or mid-stage trials and eleven drugs approaching registration. The drug manufacturer has a wide range of drugs in development: 5 percent are vaccines, 14 percent are for inflammation and immunology, 17 percent are for cardiovascular
Where's The Selling Point Of PFE : CLICK HERE
VIVUS, Inc. (NasdaqNM:VVUS) is -0.575 - -3.01% from the previous close of $19.125. It traded between $18.50 - 19.38 with total traded volume of 1361446 shares. Keep a close eye on VVUS, as the stock has been showing unusual moves over the past weeks. At Current market price, VVUS has recovered +130.43% from its 52-week Low of 8.05 and has Pulled back -40.56% from its 52-week high of 31.21. VIVUS (NASDAQ:VVUS) announced the dismissal of a putative class action lawsuit that was named Kovtun v. Vivus, Inc., et al., Case No. 4:10-CV-04957-PJH, and filed in November 2010 against the company and two of its officers alleging securities fraud. On September 27, 2012, Honorable Phyllis J. Hamilton of the U.S. District Court for the Northern District of California granted, with prejudice, VIVUS’s motion for the dismissal of all claims against VIVUS and its officers for failing to state a claim. In October 2011, Judge Hamilton dismissed an earlier version of the Plaintiffs’ complaint, but granted the plaintiffs leave to file an amended complaint, which has now been dismissed by Judge Hamilton without leave to amend.
Can VVUS Trying To Fill The Gap : Click Here to Know More
Vringo, Inc. Comm (AMEX:VRNG) is very active today and traded between $4.37 - 5.00 with total traded volume of 23945504 shares. At a current price of 4.54, VRNG is -0.71 - -13.52% from the previous close of $5.25. Moreover, At Current Market Price, VRNG is in distance of +31.91% from its 50-day Moving Average price of $3.4417 and +33.57% from its 200-day Moving Average price of $3.3989. Vringo, Inc.(NYSEAMEX:VRNG) shares soared 22.09% and closed at $5.25 in the last trading session. A judge, this week, has denied Google Inc a motion for summary judgment in a patent dispute. Google was sued by Innovate/Protect Inc, which was acquired by Vringo. Vringo is seeking an award of at least $696 million from Google. Additionally, the company, on Sept.26, Vringo filed an 8-k with the SEC challenging ZTE to license patents for technology ZTE has been using since 2002. The patents cover Vringo’s proprietary technologies that are considered essential to infrastructure equipment and mobile stations compliant with GSM and GPRS specifications.
Can VRNG Continue To Move Higher? Find Out Here
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