Kolkata, West Bengal -- (SBWIRE) -- 09/24/2013 -- Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Rockwell Medical Inc(NASDAQ:RMTI), Galena Biopharma Inc (NASDAQ:GALE), Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP).
Rockwell Medical Inc(NASDAQ:RMTI) shares gained 1.56% to $9.09. The company on Sept. 4 said its lead experimental drug met the main goal of improving hemoglobin levels in its final late-stage trial among adult patients with chronic kidney disease. The study was the second of two identical late-stage studies testing the drug in patients with chronic kidney disease on hemodialysis — a process by which waste and extra fluid is removed from the blood of patients with kidney failure.
Should Investors Buy RMTI After Yesterday’s Jump? Find Out Here
Galena Biopharma Inc (NASDAQ:GALE) shares decreased 3.02% to $1.93. The company on Sept. 23 announced the closing of the exercise in full of the underwriters' option to purchase an additional 2,625,000 shares of common stock of Galena. As previously announced, as part of the firm commitment underwritten offering that was closed on September 18, 2013, Galena granted the underwriters a 30-day option to purchase up to 2,625,000 shares of common stock and/or warrants to purchase up to 918,750 shares of common stock.
The underwriters have exercised their over-allotment option in full to include the purchase of additional shares in addition to the previously announced exercise of the warrants over-allotment option. The additional gross proceeds to Galena as a result of the exercise of the option with respect to the shares are approximately $5.2 million. The net proceeds to Galena from the offering, including from the exercise in full of the over-allotment options, are expected to be approximately $37.6 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Galena.
Is GALE A Good Buy After The Recent Price Movement? Find Out Here
Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) shares gained 0.77% to $1.31. The company on Sept. 23 announced that on September 19, 2013, the Company received notice that the Court of Brindisi (Italy) issued a ruling to seize additional solar parks constructed by investee companies of Global Solar Fund S.C.A. SICAR ("GSF"). In total, with this new seizure, an aggregate of 37 GSF solar parks have been ordered seized which have a total capacity of approximately 30MW and represent approximately 21% of the aggregate nominal power capacity of solar parks held by GSF.
The Court also ordered the seizure of feed-in-tariffs received by the investee companies of GSF that own the seized solar parks. As consistent with Italian legal proceedings, several people have been served pre-trial detention orders. GSF is currently in the process of reviewing the ruling issued by the Court to determine the next appropriate steps, and the Company is working with GSF to maintain operations while operating in a manner compliant with the Court's ruling.
Is STP A Good Buy After The Recent Price Movement? Find Out Here
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