Boston, MA 03/27/2014 (wallstreetpr) – IsoRay, Inc. (NYSEMKT:ISR) edged up Wednesday, managing to recover from the Friday fall occasioned by announced shares dilution. The stock jumped 12.62 percent to settle at $2.32. In order to raise funds for working capital and corporate purposes, the company announced that it was offering common stock shares directly to two institutional investors. The offering, the company said, involved more than 5.6 million shares being sold at an average price of $2.60 per share. Thus, the transaction is expected to generate about $14.7 million in gross proceeds. The common stock offering obviously has dilutive effect on the current value of the shares and will impact existing shareholders; nonetheless, that two institutional investors are taking up such a huge amount of shares goes a long way to suggest that the company’s prospects are attractive enough to attract big investors. Last week shares of IsoRay, Inc. (NYSEMKT:ISR) jumped to a five-year high when the company recorded that its tumor treatment registered success in a pediatric patient.
22nd Century Group Inc (NYSEMKT:XXII) shares took yet another turn south during Wednesday trading, just when the stock had started showing signs of recovery in the previous session. Shares of the company were last seen down 1.86 percent to $3.16, on a day when above average volume of shares shifted hands. The previous session saw the shares changing hands between low and high range of $3.10 – $4, having opened the day at $3.42. Shares of the $184.08 million market capped company traded between $0.46 and $6.36 as low and high prices in the past year. The stock recently got elevated to senior NYSE listing, making an impressive debut.
Keryx Biopharmaceuticals (NASDAQ:KERX) jumped during trading Wednesday after the market learnt that decision to move renal disease drugs, such as Zerenex from Keryx, to ESRD bundle might be delayed by up to a decade and this is good news for select medications like the one provided by KERX. However, with the report being mainly speculations, investors are wise to tread carefully on the stock even with the Wednesday gain in view. Shares of the company settled at $16.54, up 17.39 percent, and having touched a new 52-week high earlier on the day.
