NEW YORK, NY / ACCESSWIRE / March 27, 2017 / Higher volumes were the order of the day for these two biotech stocks, as each stock saw a double digit percent increase in the price of their stocks. Regulus received an "outperform" endorsement from one investment firm, expressing confidence in the company in the midst of some uncertainty.
RDI Initiates Coverage:
Benitec Biopharma Ltd. https://ub.rdinvesting.com/news/?ticker=BNTC
Regulus Therapeutics Inc. https://ub.rdinvesting.com/news/?ticker=RGLS
Benitec Biopharma advanced 18.50% to close at $2.69 on Friday. The stock traded between a high of $2.90 and an opening low of $2.37 on volume of 312,833 shares traded. The stock recovered from Thursday's finish which was lower, down to $2.27 with a volume of 27,331 shares traded. Benitec Biopharma is an Australian company that develops treatments using its gene silencing therapy, DNA-directed RNA interference (ddRNAi) for chronic and life-threatening human diseases.
On March 13th of this year, issued an additional 29,305,819 fully paid ordinary shares to Nant Capital, LLC with a per share value of A$0.1859, for a total amount of A$5.45 million. In discussing the transaction, Chief Executive Officer, Greg West said, "In the second half of last year we said we would build the relationship with Nant through acquiring a clinical stage asset and by securing funding from Nant." With this second tranche of share placement to Nant Capital, Nant now has a 28.57% interest in Benitec Biopharma. Benitec has reported a loss of A$3.02 million or A$1.19 a share on revenue of A$6.04 million for the six month ended in December 31, 2016. Revenue reported for the six months ended in December 31, 2015 were A$322,000, the significant increase in half yearly revenue year-on-year was mainly due to R&D grant amount of A$5.7 million, Benitec received from Australian Government during period from June to December 2016.
Access RDI's Benitec Biopharma Research Report at: https://ub.rdinvesting.com/news/?ticker=BNTC
Regulus Therapeutics advanced 12.00% to close at $1.40 on Friday. The stock traded between $1.54 and $1.25 on volume of 4,282,684 shares traded. The U.S. based company focuses on the discovery and development of drugs that target microRNAs that are intended to treat a wide variety of diseases. Earlier this month, the research firm Wedbush continued to support its "outperform" rating on the company's stock. Regulus has been assigned majority of ratings as "hold" by different investment research firms with consensus rating estimate of "overweight".
Post its disclosure on January 27th, this year, a series of lawsuits have been filed by investors, as its new drug RG-101, against the chronic hepatitis C (HCV) virus infection will be placed on clinical hold due to another case of Jaundice. Regulus has reported fourth quarter results on March 2nd, where net loss for the fourth quarter and full year were $0.38 and $1.55 respectively. The company has reported cash, cash equivalents and short term investments of $76.1 million for the end of reporting year of 2016, compared to $115.3 million reported at the end of the previous reporting year. Paul Grint, M.D., President and Chief Executive Officer of Regulus stated, that he was even more convinced targeting microRNAs offers the potential for a significant advancement and therapeutic application for many diseases which currently exist limited or no treatment options.
Access RDI's Regulus Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=RGLS
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