Orlando, FL -- (SBWIRE) -- 08/30/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Organovo Holdings Inc (NYSEMKT:ONVO), DryShips Inc. (NASDAQ:DRYS).
Organovo Holdings Inc (NYSEMKT:ONVO) stock gained 1.61% and closed at $5.69. The company on August 12 reported on its financial results for the three-month period ended June 30, 2013. For the three months ended June 30, 2013, total revenues were approximately $0.1 million were $0.2 million or 67% below the approximately $0.3 million in revenues for the same period in 2012. The Company also had negative cash flow from operations of $2.7 million during the three months ended June 30, 2013, with end-of-period cash and cash equivalents of approximately $12.8 million and an accumulated deficit of $70.1 million.
Additionally, the company on August 7 nnounced the closing of its previously announced underwritten public offering of 9,000,000 shares of its common stock, as well as 1,350,000 additional shares of its common stock pursuant to the full exercise of the over-allotment option granted to the underwriters. The shares were sold at the public offering price of $4.50 per share and the company estimates the aggregate net proceeds to the company will be approximately $43.3 million, after deducting underwriting discounts and commissions and other estimated offering expenses.
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DryShips Inc. (NASDAQ:DRYS) shares decreased 3.27% to $2.37. The company on August 7 announced its unaudited financial and operating results for the second quarter ended June 30, 2013. For the second quarter of 2013, the Company reported a net loss of $18.2 million, or $0.05 basic and diluted loss per share. The Company reported Adjusted EBITDA of $112.3 million for the second quarter of 2013, as compared to $140.2 million for the second quarter of 2012.
Additionally, the company on July 23, an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. ("Ocean Rig"), announced that Ocean Rig has signed definitive documentation with Total E&P Angola, following the previously announced Letter of Award, for its ultra deepwater drillship "Ocean Rig Skyros." The contract is for 5 wells or a minimum of 275 days for drilling offshore West Africa, with an estimated backlog of approximately $190 million, and is expected to commence upon delivery of the drillship from the shipyard, in October 2013.
Is DRYS going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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