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Los Angelas, CA -- (SBWIRE) -- 12/10/2012 -- Geron Corporation (NASDAQ:GERN) shares fell 6.19% and closed at $1.06 in yesterday’s session. The company confirmed it will discontinue development of an experimental drug to treat cancer that has spread to the brain from elsewhere in the body and also cut about 40% of its workforce, after patients failed to respond to the drug in a mid-stage study. The company said it will now focus on the development of another drug candidate, imetelstat, as a treatment for blood cancers and some types of solid tumors.
Should Investors Buy GERN After The Recent Jump? Find Out Here
CombiMatrix Corporation (NASDAQ:CBMX)’s history as a public company goes all the way back to its IPO at the end of 2002, when the company was initially listed on the NASDAQ at $326/share. While CombiMatrix has now developed an array of diagnostic tests for oncology as well as developmental disorders, the company has also been continuously diluting shares and has not made all that much progress in terms of growth in sales revenue considering how long it has been in operation. In the third quarter of 2012, the company reported total revenues of only $1.3 million. While a positive trend in revenue growth is a good sign for future quarters, $1.3 million is simply not enough for CombiMatrix to cover its operating expenses of over $2.6 million each quarter.
Can CBMX Continue To Move Higher? Find Out Here
Intermec Inc. (NYSE:IN) jumped 24% to $9.90 a share in premarket trades on Monday after the automated-identification and data- collection specialist agreed to be purchased by Honeywell International HON -0.37% for $10 a share in cash, or $600 million. Separately, Honeywell said it expects adjusted 2013 earnings of $4.75 to $4.95 a share, compared to the Wall Street estimate of $4.95 in a survey by FactSet. Honeywell expects 2013 sales of $39 billion to $39.5 billion, compared to the analyst forecast of $39.4 billion.
Can IN Extends Rally? Find Out Here
Molycorp, Inc. (NYSE:MCP) has been in rebound mode of late, and has jumped more than 69% since tagging a record low of $5.75 on Nov. 16. What's more, the equity's 10- and 20-day moving averages just made a bullish cross one week ago, suggesting a layer of support may be emerging.
In light of this recent bounce, the uptick in call activity could also represent short sellers picking up hedges against their bearish bets. Short interest edged 1.1% higher over the last two reporting periods, and now accounts for more than 36% of the stock's available float.
If it is indeed shorts picking up options-related insurance, they hedged their bets at the right time. The stock has surged almost 9% in early trading on no apparent news. MCP was last seen hovering near the $9.72 mark, placing the December 9-strike calls comfortably in profitable territory.
How Should Investors React To MCP Now? Find Out Here
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