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Stocks To Watch: Ibio Inc (NYSEMKT:IBIO); Ardelyx Inc (NASDAQ:ARDX); Ambit Biosciences Corp (NASDAQ:AMBI)

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.

Published by Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email (brendanbyrne@wallstreetpr.com) or his Google+ page (https://plus.google.com/u/0/116608759701551457422).

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