Unusual 11 Mid-Day Movers 9/16: (CDOR) (GNMK) (DEPO) Higher; (NVAX) (ROKA) (CXRX) Lower
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Roka Bioscience, Inc. (Nasdaq: ROKA) 35.0% LOWER; announced that it has entered into a securities purchase agreement in connection with a private placement. Upon the closing of the private placement, Roka will receive gross proceeds of approximately $22.5 million resulting from the sale of approximately 22,500 shares of the Company's Series A Preferred Stock. Each share of Series A Preferred Stock is convertible into approximately 1,428 shares of the Company's common stock, which is equivalent to a purchase price of $0.70 per common share, or an aggregate of approximately 32,143,000, subject to customary adjustments and certain issuance limitations.
Condor Hospitality Trust (Nasdaq: CDOR) 21.6% HIGHER; declared a quarterly dividend of $0.03 per share, or $0.12 annualized. This is a 200% increase from the prior dividend of $0.01. The dividend will be payable on October 12, 2016, to stockholders of record on September 29, 2016, with an ex-dividend date of September 27, 2016. The annual yield on the dividend is 6.8 percent.
GenMark Diagnostics (Nasdaq: GNMK) 19.7% HIGHER; Cowen upgraded GenMark Diagnostics from Market Perform to Outperform with a price target of $17. Analyst Doug Schenkel noted strong ePlex channel checks said he said the stock "looks ready to double."
Concordia International Corp. (Nasdaq: CXRX) 17.4% LOWER; commented on the UK's Health Service Medical Supplies (Costs) Bill, which was introduced into the House of Commons on September 15, 2016. The proposed bill would amend and extend existing provisions of the National Health Service Act 2006 to help manage the cost of health service medicines.
Towerstream Corporation (Nasdaq: TWER) 16.0% LOWER; announced the pricing of a public offering. The offering consists of 2,962,963 shares of common stock at $1.35 per share for a total of $4,000,000 before the underwriter's discount and expenses.
Histogenics Corporation (Nasdaq: HSGX) 14.0% LOWER; announced that it has entered into a definitive securities purchase agreement to raise approximately $30.0 million in a private placement of common stock, Series A Convertible Preferred Stock and warrants exercisable for common stock. The private placement is being led by new healthcare dedicated institutional investors, with participation by certain existing investors.
Depomed (Nasdaq: DEPO) 13.5% HIGHER; said to be preparing to sell itself amid pressure from activist investor Starboard Value LP. Other reports have the company already rebuffing the offer.
Stellar Biotechnologies (Nasdaq: SBOT) 12.8% HIGHER; filed a registration with the U.S. SEC to sell up to 1,265,626 shares of common stock on behalf of selling shareholders.
ConforMIS (Nasdaq: CFMS) 12.3% HIGHER; B. Riley initiated coverage on ConforMIS with a Buy rating and a price target of $13.00.
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