Unusual 11 Mid-Day Movers 11/30: (SCON) (CRC) (JONE) Higher; (ARWR) (CERC) (DRAM) Lower

November 30, 2016 1:26 PM EST

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Arrowhead Pharmaceuticals, Inc. (Nasdaq: ARWR) 66.5% LOWER; announced a strategic redeployment of resources to support the development of RNAi therapeutics that utilize the company’s new proprietary subcutaneous (subQ) and extra-hepatic delivery systems. Arrowhead will discontinue development of clinical stage drug candidates ARC-520, ARC-521, and ARC-AAT, which utilize the DPCiv™, or EX1, delivery vehicle. The company is hosting a conference call at 4:30 p.m. EST to discuss this decision.

Cerecor Inc. (Nasdaq: CERC) 56.8% LOWER; announced top-line clinical results from its major depressive disorder (MDD) Phase 2 clinical trial (Clin301-203) of adjunctive treatment of CERC-301, an oral, NR2B specific, NMDA receptor antagonist. Overall, the trial failed to demonstrate efficacy on the primary endpoint for mean improvement in Bech-6, a subset of the Hamilton Depression Scale (HDRS-17), averaged over days 2 and 4 post dose. However, the study showed signals for the CERC-301 20 mg dose group at Day 2, at pre-specified secondary endpoints, indicating a potentially clinically-meaningful effect, though not statistically significant, on the Bech-6 and HDRS-17.

Superconductor Technologies Inc. (Nasdaq: SCON) 52.2% HIGHER; has been selected as prime recipient of the $4.5 million program award provided by the U.S. Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy (EERE), on behalf of the Advanced Manufacturing Office, for its Next Generation Electric Machines (NGEM) program. Collaborating with STI is TECO-Westinghouse Motor Company (TWMC), an industry leading manufacturer of electric generators and motors, and renowned academic institutions Massachusetts Institute of Technology (MIT) and University of North Texas (UNT).

California Resources (NYSE: CRC) 29.9% HIGHER; gaining as oil ramps higher amid the OPEC output cut.

Jones Energy, Inc. (NYSE: JONE) 27.6% HIGHER; see California Resources above.

Whiting Petroleum (NYSE: WLL) 27.6% HIGHER; another oil gainer today.

EP Energy Corporation (NYSE: EPE) 25.7% HIGHER; ramping higher along with oil prices.

Globus Maritime Limited (Nasdaq: GLBS) 25.1% HIGHER; another shipper seemingly moving higher once again Wednesday following a recent surge.

Dataram (Nasdaq: DRAM) 15.6% LOWER; pulling back following a 33 percent move higher on Tuesday.

Costamare Inc. (NYSE: CMRE) 14.4% LOWER; announced that its offering of 12,000,000 shares of its common stock, upsized from 11,000,000 shares of its common stock, was priced at $6.00 per share. The gross proceeds from the offering before the underwriting discount and other offering expenses are expected to be approximately $72 million. Members of the Konstantakopoulos family, who in the aggregate own a majority of the common stock of the Company, have agreed to purchase approximately $10 million of shares in the offering.

Clearside Biomedical (Nasdaq: CLSD) 14.9% LOWER; filed a registration with the U.S. SEC to sell up to $75 million of its common stock.

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