Stocks In News: Molycorp Inc. (NYSE:MCP), StemCells Inc (NASDAQ:STEM), GTx, Inc. (NASDAQ:GTXI)
Molycorp Inc. (NYSE:MCP) shares increased 5.26% to $7.02. The company on Oct. 2 announces Mechanical Completion and the Start of Commissioning of Both the Chloralkali Plant and the Final Unit of Multi-Stage Cracking at Mountain Pass
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Greenwood Village, CO (8 a.m. Eastern, Wednesday, Oct. 2, 2013) – Molycorp, Inc. (NYSE: MCP) (“Molycorp” or the “Company”) today announced that the chloralkali plant at Mountain Pass, California, is now mechanically complete and that full-scale commissioning operations have commenced.
StemCells Inc (NASDAQ:STEM) shares decreased 16.07% to $1.41. The company on Oct. 2 announced the pricing of an underwritten public offering of an aggregate of 11,170,000 units at a public offering price of $1.45 per unit. Each unit consists of one share of common stock, par value $.01 per share, and a warrant to purchase one half share of common stock. The warrants have an exercise price of $1.80 per share, are exercisable immediately, and will expire five years from the date of issuance. The Company expects to receive gross proceeds of approximately $16.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about October 7, 2013, subject to customary closing conditions.
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GTx, Inc. (NASDAQ:GTXI) stock declined 13.30% to $1.63. The company on Sept. 24 announced that top line results from the two Phase 3 trials on the effects of enobosarm for the prevention and treatment of muscle wasting in non-small cell lung cancer patients will be presented on September 28, 2013, at the European Cancer Congress 2013 (September 27-October 1, 2013) in Amsterdam.
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Jeffrey Crawford, M.D., Chief, Division of Medical Oncology at Duke University School of Medicine, and principal investigator for the POWER1 and POWER2 clinical studies presented the results on September 28th, 2013 at 1:39PM (Elicium 2) during the Proffered Papers Session: Lung Cancer – Localised and Metastatic (11:00-14:00).