Boston, MA 10/07/2014 (wallstreetpr) – The stock of biotechnology firm Ibio Inc (NYSEMKT:IBIO) touched new highs yesterday at the stock market. This was on the back of continued investor interest in the stock; post last week’s announcement last week that it has filed its Annual Report for FY14 to Securities and Exchange Commission on 29th September. The Form 10 K was filed for operations covered under the period of May 2013 to June 2014. The SEC filing also noted that in the audited reports for the fiscal, the independent auditor had included language related to “going concern qualification”. It further directed investors to review its full year report for more details.
Clinical stage biotech firm Ardelyx Inc (NASDAQ:ARDX) was a much sought after stock during trading yesterday. Investors were bullish about the stock after the drug maker announced positive data and results from its Phase 2b clinical tests on 1st October. The investigations of the test drug involved 371 patients. The results indicated that patients treated with its test drug Tenapanor had shown “statistically significant and clinically meaningful” progress in remission from their IBS-C ailments. The primary end points set ahead of the clinical tests were thus met, the drug maker had indicated in its press statement.
Drug maker Ambit Biosciences Corp (NASDAQ:AMBI) was intimated yesterday that investigations have been launched into specific operations as a preliminary to class action suit being filed. The investigation was instituted by litigation law firm of Brower Piven. The law firm is looking into whether any fiduciary duties of the management team were violated by the office bearers with respect to the firm’s potential buyout by Daiichi Sankyo Company, Ltd. The development comes on the back of September 28, 2014 by Daiichi that it would be purchasing Ambit Biosciences Corp (NASDAQ:AMBI) for a sum consideration of $315 million.