Stocks To Watch: Spherix Inc (NASDAQ:SPEX), Mecox Lane Ltd (NASDAQ:MCOX), Compugen Ltd. (USA) (NASDAQ:CGEN), Inovio Pharmaceuticals Inc (NYSEMKT:INO)
Spherix Inc (NASDAQ:SPEX) shares surged 100.40% to $19.14. The company on July 29 announced that it has closed the previously announced agreement to acquire a group of seven patents in the mobile communication sector, from Rockstar Consortium, the owner of over 4,000 patents formerly owned by Nortel Networks. Under the terms of the agreement, Spherix acquired four families of mobile communication patents in exchange for initial consideration of up-front cash and $1,000,000 in Spherix common stock issued at $5.65 per share.
Mecox Lane Ltd (NASDAQ:MCOX) shares jumped 69.28% to $5.40 in the last trading session on no official news. The company onMay 15 announced its unaudited financial results for the first quarter ended March 31, 2013. First quarter net revenues decreased 43.5% year over year to $21.0 million, compared to $37.1 million in the first quarter of 2012. Net loss was $4.2 million, compared to net loss of $4.2 million in the first quarter of 2012; net loss includes a non-recurring gain of $6.0 million in the first quarter of 2013.
Compugen Ltd. (USA) (NASDAQ:CGEN) stock jumped 44.51% to $7.89. The company on August 5 said it could receive more than $500 million through a development agreement it reached with Bayer over two potential cancer treatments. The company will receive an upfront payment of $10 million and could receive more than $500 million in milestone payments, plus royalties on any sales if the drugs eventually make it to market.
Inovio Pharmaceuticals Inc (NYSEMKT:INO) shares increased 44.23% to $3. The company on July 24 announced that in a preclinical study with two animal models, Inovio’s hTERT (human telomerase reverse transcriptase) DNA cancer vaccine administered with Inovio’s CELLECTRA® adaptive electroporation delivery technology generated robust and broad immune responses, broke the immune system’s tolerance to its self-antigens, induced T-cells with a tumor-killing function, and increased the rate of survival.