Tenax Therapeutics and Alcobra Find Rough Waters Ahead
NEW YORK, NY / ACCESSWIRE / April 7, 2017 / Alcobra advanced 16.19% to close at $1.22 on Thursday. The stock traded between $1.03 and $1.25 on volume of 2.9 million shares traded. On April 5th, the company provided an update on Brosh Capital L.P.'s request to hold an Extraordinary General Meeting of its Board of Directors. Brosh Capital L.P. has filed a motion which, according to Alcobra, violates the agreement between the two parties by attempting to change the number of Directors set forth in company's articles that states such changes are to be determined only at the annual shareholders meeting.
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Tenax Therapeutics advanced 5.74% to close at $0.50 on Thursday. The stock traded between $0.49 and $0.65 on volume of 3.7 million shares traded. In its recent annual financial reporting for the year ending December 31, 2016, the company reported a net loss of $44 million. The loss was nearly $30 million greater than the previous reporting period in 2015. While sales and general administrative expenses held the line, R&D expenses moved up by $6.4 million. Non-recurring loss of $33 million was the primary reason for decline in net profit in 2016. However, the company entered 2017 operations with $13.3 million in cash. Its FDA clinical trial drug, levosimendan, failed to meet the endpoint criteria to move forward with additional clinical trials.
Access RDI's Tenax Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=TENX
RDI Initiates Coverage on:
Alcobra Ltd. https://ub.rdinvesting.com/news/?ticker=ADHD
Tenax Therapeutics Inc. https://ub.rdinvesting.com/news/?ticker=TENX
Our Actionable Research on Alcobra Ltd. (NASDAQ: ADHD) and Tenax Therapeutics Inc. (NASDAQ: TENX) can be downloaded free of charge at Research Driven Investing.
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