News Buzz: Organovo Holdings Inc (NYSEMKT:ONVO), USEC Inc. (NYSE:USU), FreeSeas Inc. (NASDAQ:FREE)
Organovo Holdings Inc (NYSEMKT:ONVO) stock increased 5.43% to $4.85. The company on Aug. 1 announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Additionally, ONVO and Methuselah Foundation, a public charity incentivizing innovation in regenerative medicine, on July 24 announced that Methuselah Foundation has initiated a campaign in which it will fund research at major research institutions using Organovo’s proprietary NovoGen Bioprinting technology. The program will feature grants of research funding from the non-profit Methuselah Foundation to major academic research centers engaged in cutting edge biomedical research.
USEC Inc. (NYSE:USU) shares climbed 5.21% to $18.17. The company, on August 5, reported a net loss of $40.9 million or $8.35 per basic and diluted share for the quarter ended June 30, 2013, compared to a net loss of $92.0 million or $18.78 per basic and diluted share for the second quarter of 2012. For the six-month period ended June 30, 2013, the net loss reported was $42.9 million or $8.76 per basic and diluted share, compared to a $120.8 million net loss or $24.65 per basic and diluted share in the same period of 2012. Per share calculations reflect the 1-for-25 reverse stock split completed on July 1, 2013.
FreeSeas Inc. (NASDAQ:FREE) shares jumped 3.17% and closed at $0.231. The company on July 10 announced that it has entered into a agreement (the “Agreement”) among Deutsche Bank Nederland N.V. ( “Deutsche Bank”), the Company, various wholly-owned subsidiaries of the Company and with a Magna Group affiliate fund, Hanover Holdings I, LLC (the “Investor”), headquartered in New York, NY.