MLNT - Melinta Therapeutics, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
0.5000
-0.0302 (-5.70%)
At close: 4:00PM EST
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Previous Close0.5302
Open0.5150
Bid0.0000 x 800
Ask0.0000 x 900
Day's Range0.5000 - 0.5300
52 Week Range0.3000 - 10.1000
Volume695,087
Avg. Volume614,241
Market Cap6.875M
Beta (5Y Monthly)6.44
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Bloomberg

    Drugmaker Melinta, Co-Founded by Nobel Winner, Files Bankruptcy

    (Bloomberg) -- Melinta Therapeutics Inc., a bio-pharmaceutical company specializing in infectious disease treatment, filed for Chapter 11 bankruptcy in Delaware with plans to continue operating.Melinta listed as much as $500 million in assets and up to $500 million in liabilities in its bankruptcy petition. Founded in 2000 by scientists including Nobel Prize winner Thomas Steitz, the company sells drugs that treat MRSA, urinary tract and other bacterial infections.The drugmaker has reached a restructuring agreement with secured lenders from Deerfield Private Design Fund III LP and Deerfield Private Design Fund IV LP, who would acquire 100% of the equity in the reorganized company in exchange for $140 million of secured claims under a senior credit facility, according to a regulatory filing and company statement. Melinta will also consider competitive bids for its assets or business beyond the deal with creditors, and aims to close a transaction by the end of the first quarter of 2020.A representative for Melinta didn’t immediately respond to requests for comment.Weakened Profits“We are confident that this process will secure new ownership of the business with the financial resources to support the company’s antibiotics portfolio and ensure these potentially life-saving products continue to get to patients in need,” interim Chief Executive Officer Jennifer Sanfilippo said in the statement.Profitability for drugmakers like Melinta has been weakening because infectious disease doctors, wary of promoting resistance, are reluctant to introduce new antibiotics until they’re absolutely needed.In November, Melinta said that limited liquidity and insufficient revenues would likely make a Chapter 11 necessary, according to a quarterly filing. In the event of bankruptcy, stockholders would be entitled to little to no recovery, the company said at the time. Shares of Morristown, New Jersey-based Melinta fell as much as 74% Friday morning.The case is Melinta Therapeutics Inc., 19-12748, U.S. Bankruptcy Court for the District of DelawareTo contact the reporter on this story: Olivia Rockeman in New York at orockeman1@bloomberg.netTo contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Nicole Bullock, Boris KorbyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • MarketWatch

    Melinta Therapeutics stock slides after company files for chapter 11 bankruptcy protection

    Shares of biotech Melinta Therapeutics Inc. slid 59% Friday, after the developer of novel antibiotics to treat bacterial infections filed for chapter 11 bankruptcy protection. Morrison, New Jersey-based Melinta said it has reached a restructuring agreement with the lenders under its senior credit facility, Deerfield Private Design Fund III, L.P. and Deerfield Private Design Fund IV, L.P. The lenders have agreed to acquire the company by exchanging $140 million of secured claims for 100% of the equity to be issued by the reorganized company according to a pre-negotiated bankruptcy. "While we have successfully conserved cash and enhanced revenue over the past several quarters, we nevertheless anticipate challenges in meeting the company's obligations, including near-term compliance with certain covenants," Interim Chief Executive Jennifer Sanfilippo said in a statement. Melinta is hoping to complete the restructuring by the end of the first quarter.

  • Hedge Funds Are Dumping Melinta Therapeutics, Inc. (MLNT)
    Insider Monkey

    Hedge Funds Are Dumping Melinta Therapeutics, Inc. (MLNT)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […]

  • Melinta Therapeutics, Inc. Just Reported Earnings, And Analysts Cut Their Target Price
    Simply Wall St.

    Melinta Therapeutics, Inc. Just Reported Earnings, And Analysts Cut Their Target Price

    One of the biggest stories of last week was how Melinta Therapeutics, Inc. (NASDAQ:MLNT) shares plunged 36% in the...

  • MarketWatch

    Melinta Therapeutics stock plunges toward record low after another 'going concern' warning

    Shares of Melinta Therapeutics Inc. plummeted 45% toward a record low to pace all premarket decliners Wednesday, after the commercial-stage drug maker included a "going concern" warning in its quarterly filing, for the third consecutive quarter. The first warning by the company that it believed there was "substantial doubt about our ability to continue as a going concern" was in the 10-Q filing with the Securities and Exchange Commission on May 10. The stock had tumbled 25.5% that day, and fell 19% on Aug. 9 when that warning was repeated. In the 10-Q filed late Tuesday, the cmopany said it is "likely in the next few months" that the company would violate financial-related covenants that require a certain minimum revenue, minimum cash and an audit opinion without a going concern qualification. The stock has tumbled 72% year to date, while the S&P 500 has climbed 23%.

  • Melinta Therapeutics, Inc. (MLNT) Reports Q3 Loss, Tops Revenue Estimates
    Zacks

    Melinta Therapeutics, Inc. (MLNT) Reports Q3 Loss, Tops Revenue Estimates

    Melinta Therapeutics, Inc. (MLNT) delivered earnings and revenue surprises of 10.88% and 2.35%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Will Melinta Therapeutics, Inc. (MLNT) Report Negative Q3 Earnings? What You Should Know
    Zacks

    Will Melinta Therapeutics, Inc. (MLNT) Report Negative Q3 Earnings? What You Should Know

    Melinta Therapeutics, Inc. (MLNT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Company News For Oct 28, 2019
    Zacks

    Company News For Oct 28, 2019

    Companies in the news are: AMZN, BOOM, RMD, MLNT

  • Benzinga

    The Daily Biotech Pulse: Melinta Crosses FDA Hurdle But Sees Liquidity Pushback, Positive Readout For Aclaris Wart Drug

    Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Oct. 24) AstraZeneca plc (NYSE: AZN ) (reacted to a beat-and-raise ...

  • Who Has Been Selling Melinta Therapeutics, Inc. (NASDAQ:MLNT) Shares?
    Simply Wall St.

    Who Has Been Selling Melinta Therapeutics, Inc. (NASDAQ:MLNT) Shares?

    It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that...

  • Implied Volatility Surging for Melinta Therapeutics (MLNT) Stock Options
    Zacks

    Implied Volatility Surging for Melinta Therapeutics (MLNT) Stock Options

    Investors need to pay close attention to Melinta Therapeutics (MLNT) stock based on the movements in the options market lately.

  • Benzinga

    The Daily Biotech Pulse: Puma Leaps, Aerie Borrows, Hepion Back In Nasdaq's Good Books

    Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Sept. 3) Ardelyx Inc (NASDAQ: ARDX ) ( reported positive results ...

  • What Kind Of Shareholder Appears On The Melinta Therapeutics, Inc.'s (NASDAQ:MLNT) Shareholder Register?
    Simply Wall St.

    What Kind Of Shareholder Appears On The Melinta Therapeutics, Inc.'s (NASDAQ:MLNT) Shareholder Register?

    A look at the shareholders of Melinta Therapeutics, Inc. (NASDAQ:MLNT) can tell us which group is most powerful...

  • Melinta Therapeutics, Inc. (MLNT) Reports Q2 Loss, Tops Revenue Estimates
    Zacks

    Melinta Therapeutics, Inc. (MLNT) Reports Q2 Loss, Tops Revenue Estimates

    Melinta Therapeutics, Inc. (MLNT) delivered earnings and revenue surprises of -19.46% and 13.96%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Cronos (CRON) to Report Q2 Earnings: What's in the Cards?
    Zacks

    Cronos (CRON) to Report Q2 Earnings: What's in the Cards?

    Investors will focus on Cronos' (CRON) regular top and bottom-line numbers along with its pipeline progress when it reports second-quarter results.

  • Is a Beat in Store for Melinta (MLNT) This Earnings Season?
    Zacks

    Is a Beat in Store for Melinta (MLNT) This Earnings Season?

    Vabomere and Minocin are expected to drive Melinta's (MLNT) second-quarter revenues. Operating expenses are likely to be lower. The company may provide update on progress of Baxdela label expansion.

  • Melinta Therapeutics, Inc. (MLNT) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release
    Zacks

    Melinta Therapeutics, Inc. (MLNT) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release

    Melinta Therapeutics, Inc. (MLNT) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Melinta Therapeutics, Inc. (MLNT) Dips More Than Broader Markets: What You Should Know
    Zacks

    Melinta Therapeutics, Inc. (MLNT) Dips More Than Broader Markets: What You Should Know

    Melinta Therapeutics, Inc. (MLNT) closed at $4.07 in the latest trading session, marking a -0.49% move from the prior day.

  • Melinta (MLNT) Announces Preliminary Product Sales for Q2
    Zacks

    Melinta (MLNT) Announces Preliminary Product Sales for Q2

    Melinta (MLNT) announces preliminary sales for the second quarter. However, sales number suggests estimates miss for the quarter. Shares fall.

  • Benzinga

    Make Trend Your Friend With This Volume-Focused Trading Tool

    Given July’s notoriously slow trading environment, I wanted to spend this week’s article breaking down another massively useful trading tool that can signal the trajectory and strength of a stock’s price trend, Volume Weighted Average Price, or VWAP. Like it says on the tin, VWAP is a weighted average of a stock’s trading price that emphasizes price points with the most amount of transactions. VWAP is calculated by taking the average trading price on a single candle and multiplying it by the total number of trades in that candle.

  • Benzinga

    A Look At Benzinga Pro's Most-Searched Tickers For June 20, 2019

    This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. Melinta Therapeutics, Inc. (NASDAQ: MLNT ) ...

  • Options Traders Expect Huge Moves in Melinta Therapeutics (MLNT) Stock
    Zacks

    Options Traders Expect Huge Moves in Melinta Therapeutics (MLNT) Stock

    Investors need to pay close attention to Melinta Therapeutics (MLNT) stock based on the movements in the options market lately.

  • Melinta Therapeutics News: Why MLNT Stock Is Skyrocketing Today
    InvestorPlace

    Melinta Therapeutics News: Why MLNT Stock Is Skyrocketing Today

    Melinta Therapeutics news for Wednesday concerning approval from the U.S. Food and Drug Administration (FDA) has MLNT stock flying high.Source: Shutterstock Melinta Therapeutics (NASDAQ:MLNT) says that it now has approval from the FDA for a supplemental New Drug Application. This supplemental New Drug Application is for expanding the use of the company's BAXDELA drug.BAXDELA is a drug made by Melinta Therapeutics that treats acute bacterial skin and skin structure infections. It first got approval from the FDA in 2017. Now MLNT is seeking to also use the drug to treat adults that are dealing with community-acquired bacterial pneumonia.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSue Cammarata, M.D., Chief Medical Officer of MLNT, has this to say about the Melinta Therapeutics news."Due to the rise of antibiotic resistance and an aging population, community-acquired bacterial pneumonia, or CABP, remains a challenge for healthcare professionals and has led to a need for new treatment options. BAXDELA's potency and activity against the most common bacterial pathogens seen in CABP indicate it could play a significant role in the treatment of this life-threatening illness, if approved. We look forward to working with the FDA to help evaluate bringing this potential option to people with CABP as soon as possible." * 7 Value Stocks to Buy for the Second Half The Melinta Therapeutics news of approval from the FDA gives the supplemental New Drug Application a priority review status. The organization has set a review deadline for the application of Oct. 24, 2019.MLNT stock was up 190% as of Wednesday afternoon. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Melinta Therapeutics News: Why MLNT Stock Is Skyrocketing Today appeared first on InvestorPlace.

  • Those Who Purchased Melinta Therapeutics (NASDAQ:MLNT) Shares A Year Ago Have A 96% Loss To Show For It
    Simply Wall St.

    Those Who Purchased Melinta Therapeutics (NASDAQ:MLNT) Shares A Year Ago Have A 96% Loss To Show For It

    As every investor would know, you don't hit a homerun every time you swing. But it should be a priority to avoid...