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New York, NY -- (SBWIRE) -- 03/05/2013 -- StockRunway.com issues special report on the Bearish Drug Companies – DepomedInc(NASDAQ:DEPO), Dynavax Technologies Corporation(NASDAQ:DVAX), CARDIOME PHARMA CORP(NASDAQ:CRME)
DepomedInc (NASDAQ:DEPO) tumbled after advisers to the U.S. Food and Drug Administration recommended the agency not to approve a drug made by the company to reduce the frequency and severity of hot flashes tied to menopause. The panel of advisers voted 12-2 in opposition to the drug, Sefelsa, a long-acting form of the epilepsy drug gabapentin. The panel found that the drug outweighed its benefits when used by menopausal women.
The FDA will take into account the Advisory Committee suggestion in its review of the New Drug Application (NDA) for SEFELSA that Depomed submitted on July 31, 2012, though the regulatory authority is not bound to follow it.
Will DEPO Get Buyers Even After The Recent Rally? Find Out Here
DepomedInc (NASDAQ:DEPO) declined -9.80% and closed at $5.89 in the last trading session with the total traded volume of 2.52 million shares. That’s more than the average volume of 520,815. DEPO is now trading above its 50 day moving average of -8.31% and 200 day moving average of +1.66%.
It has outstanding shares of 56.47 million with the total market cap of 332.61million and its beta value stands at 1.54 times which shows that stock is less volatile.
Dynavax Technologies Corporation (NASDAQ:DVAX) lost -7.07% to close at $1.84 and its overall volume in the last trading session was 4.94 million shares, beating the average volume of 3.92 million. The hepatitis B drug developer reported a wider-than-projected loss in the fourth quarter. For the quarter, it lost $20.5 million or 11 cents per share, mainly due to higher expenses and lower revenue. The Berkley, Calif., company lost $4.3 million, or 3 cents per share, in the same quarter last year.
Why Should Investors Buy DVAX After the Recent Fall? Just Go Here and Find Out
Revenue for the period declined to $1.8 million from $11.4 million as the company received fewer payments from its drug development partners. Analysts predicted the company to post a loss of 8 cents per share and $7.7 million in revenue, according to FactSet.
DVAX hit the day high price of $1.99 and day low of $1.74. The stock is trading with negative year-to-date performance of -35.44%. It has current ratio of 5.26 and its debt-to-equity ratio is 0.11. The company has total market cap of $328.83 million.
CARDIOME PHARMA CORP (NASDAQ:CRME) dropped -6.82% with the closing price of $0.410 after paying $13 million as the final payment to settle debt and terminate line of credit with Merck. The overall volume in the last trading session was 1.63 million shares. Its fifty two week range was $0.24-$2.24. The total market capitalization remained $25.06million.
Has CRME Found The Bottom and Ready To Move Up? Find Out Here
The stock is ahead its 52 week low with 70.83% and its last month price volatility remained 9.65%. Its beta coefficient was 1.30 with a target price of $0.50. In its share capital, the company has 62.35 million outstanding shares while 61.17 million shares have been floated in market.
It has insider ownership of 9.79% with its institutional ownership remained 76.58%. Its current year earnings per share plunged with -178.90%.
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For more information on this press release visit: http://www.sbwire.com/press-releases/bearish-drug-companies-depomedinc-depo-dynavax-technologies-dvax-cardiome-pharma-crme-217466.htm