Orlando, FL -- (SBWIRE) -- 10/07/2013 -- 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 Cell Therapeutics Inc (NASDAQ:CTIC), Merck & Co., Inc.(NYSE:MRK).
Cell Therapeutics Inc (NASDAQ:CTIC) shares closed at $1.59. The company on Sept. 19 reported the completion of the sale of 15,000 shares of its Series 18 preferred stock. In a registered direct offering, the company sold the shares directly to Quogue Capital LLC and an affiliate of Perceptive Advisors LLC for gross proceeds of approximately USD15m. All of the shares of Series 18 preferred stock were converted and investors received 15,000,000 shares of common stock issuable upon conversion, said the company. After deducting estimated offering expenses, the company received net proceeds from the offering of approximately USD14.8m.
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Merck & Co., Inc.(NYSE:MRK) shares dropped 0.27% to $48.23. The company on Oct. 1 announced the presentation of data from studies evaluating the company's investigational oral chronic hepatitis C virus (HCV) treatments MK-5172 and MK-8742 at the 64th American Association for the Study of Liver Diseases Annual Meeting (AASLD). The meeting is scheduled to take place in Washington, D.C., Nov. 1-5, 2013.
"Merck is committed to developing HCV therapies that have the potential to offer new options for a broad range of patient types," said Dr. Eliav Barr, vice president, Infectious Diseases, Merck Research Laboratories. "We continue to build upon our strong legacy in HCV and look forward to sharing the latest clinical data for our investigational HCV therapies, MK-5172 and MK-8742."
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