Cancer Genetics and Therapix Biosciences Get Financial Boost
NEW YORK, NY / ACCESSWIRE / March 24, 2017 / The companies' saw their stocks rise on Thursday based on the recent news that both will have a relatively stable financials to operate from. News of Therapix IPO was more successful than projected, while Cancer Genetics gave investors several reasons to cheer. Investors and owners in these companies may expect a better 2017. Therapix is conducting research on the use of cannabinoids as an alternative form of treatment for specific diseases and disorders.
RDI Initiates Coverage:
Cancer Genetics Inc. https://ub.rdinvesting.com/news/?ticker=CGIX
Therapix Biosciences Ltd. https://ub.rdinvesting.com/news/?ticker=TRPX
Cancer Genetics climbed up $0.45 per share on Thursday, to close at $3.35. In a press release, the company revealed its 4th quarter earnings and full year earnings for 2016. Highlights from the report are that its 2016 revenues were up a full 50% from 2015, rising by $9 million, from $18 million to $27 million. Fourth quarter revenues were not as spectacular, but great, rising by more than 30% to $7.2 million. One of the reasons for its consistent growth is its business relationship with 9 of the top 10 pharmaceutical and biotech companies around the world. These relationships offer better opportunities for future growth. The company had $9.5 million of cash and cash equivalents available on its books as on December31st, 2016, as compared to $19.5 million of the same reported at the end of year 2015 and it has reported a loss of $15.8 million or $1.00 per share for the year 2016. Cancer Genetics has raised $12 million through debt financing and additional $1 million through non-dilutive capital in the current quarter.
Access RDI's Cancer Genetics Research Report at: https://ub.rdinvesting.com/news/?ticker=CGIX
The company announced its IPO on Thursday, with the stock closing at $10.13 a share, up $1.15. Therapix Biosciences is a company that specializes in developing clinical-stage pharmaceuticals that are cannabinoid-based. The original IPO was for 2,000,000 American Depository Shares (ADS), with each ADS consisting of 40 ordinary shares of the company. The opening price was $6.00 per share. Projections are that the gross proceeds of the initial offering will be $12 million, before deduction of underwriting discounts, commissions and general offering expenses. The money raised will be used to advance the development of its two leading drug candidates, THX-TS01 which is targeted treat Tourette Syndrome, and THX-ULD01 which is targeted address the high value and underserved market of mild cognitive impairments. Both candidates are being prepared for FDA Phase 2 testing.
Access RDI's Therapix Biosciences Research Report at: https://ub.rdinvesting.com/news/?ticker=TRPX
Our Actionable Research on Cancer Genetics Inc. (NASDAQ: CGIX) and Therapix Biosciences Ltd. (NASDAQ: TRPX) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
