Today In Biotech: BG Medicine (BGMD), Enzon Pharmaceuticals (ENZN), MannKind Corporation (MNKD), Synergy Pharmaceuticals (SGYP)


BG Medicine Stock: Dilution Weighs Heavy

BG Medicine, Inc. (NASDAQ: BGMD)

BG medicine is having a rough day in the market after announcing the price of a public offering designed to raise funds in order to cover expenses for the launch of the first automated test for galectin-3. The offering consists of 2,315,654 series A units as well as 184,346 series B units; all for the price of $1 per unit. For more details on the public offering, click here. As a result of the incredible discount offered through the offering and fears of dilution, BGMD is declining in a big way. Currently (1:14), the stock is trading at $0.90 per share after a loss of 39.08% so far today. Nonetheless, I’m relatively certain that we’ve seen the ends of declines and that we will start to see growth tomorrow. Therefore, it may be a good idea to get in now while the price is still discounted.

Enzon Pharmaceuticals Is Today’s Momentum Stock

Enzon Pharmaceuticals Inc (NASDAQ: ENZN)

Enzon Pharmaceuticals is having an incredible day in the market today; making it today’s momentum stock. Currently (1:30), ENZN is trading at $1.20 after a gain of 14.29%. Today’s gains are happening after a tremendous decline after hours yesterday; after the company payed dividends in the amount of $0.50 per share. Today’s post decline bounce back is incredible; and while I don’t think we’ll be getting back to today’s high of $1.30 per share by the end of the day, I wouldn’t be surprised to see more growth tomorrow. So, keep your eyes peeled for opportunities.

MannKind Struggles…Not For Long

MannKind Corporation (NASDAQ: MNKD)

After producing better than expected earnings on Monday, MannKind has had an incredible time in the market this week. However, solid earnings wasn’t the only factor that played a role in the company’s gains. MannKind also brought on a new, highly qualified and highly respected chief medical officer by the name of Dr. Urbanski and announced that they are close to regulatory approval for Afrezza in Europe. Nonetheless, it seems as though the bears are short selling the stock; causing a bit of manipulation at the expense of real investors. Nonetheless, I expect that the bulls will take control of MNKD again relatively soon. Currently (1:43), MNKD is trading at $4.17 per share after a loss of 3.25%. Nonetheless, today’s declines represent a strong opportunity to get in on future gains at a discount.

Synergy Pharmaceuticals Sees Further Declines

Synergy Pharmaceuticals Inc (NASDAQ: SGYP)

Finally Synergy Pharmaceuticals recently released their earnings report. Unfortunately, the company missed earnings by a wide margin. As a result, the stock has been falling like a brick from the Empire State Building since the release. Currently (1:45), SGYP is trading at $7.63 per share after a loss of 4.51% so far today. Nonetheless, I’ll be watching this one to see when it reaches support. The reality is that like with MNKD, SGYP declines are presenting a discounted opportunity to get in on future gains. Those that have been following the stock know that SGYP is currently in developmental phases and soon to be submitting a new drug application to the FDA for plecanatide. So, keep your eyes peeled as when support is reached, it’s time to get in on the gains.

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