Diamonds and Dogs
10/28/13Synta Pharmaceuticals Corp. (SNTA)
Synta Pharmaceuticals is getting crushed today, down 20.31% at $5.10. The small molecule therapy company saw its shares fall hard after announcing its one-year follow up results for its Galaxy-1 (ganetespib) trial. Ganetespib in combination with docetaxel reduced the risk of death from the docetaxel monotherapy arm by 25%. While the 25% mark seems to be decent investors were looking for the trial to reduce the risk of death by 30-35%. The lower number has left many investors feeling the remaining trials will continue to lag expectations. Synta shares lost $1.30 today, but are still holding up above their 52-week low of $3.76.
Fusion-io Inc. (FIO)
Fusion-io is skyrocketing today, up 16.14% at $11.08. The hardware and software company saw its shares jump after CEO Shane Robison and Legal Chief Shawn Lindquist bought a hefty number of shares. Robison purchased 105,500 shares at $9.52 a share, while Lindquist snapped up 11,000 for $9.50 a share. The large purchase from these insiders led investors to believe there might be some value built up in the company. Shares of Fusion-io jumped over $1.50 today, but are still well below their 52-week low of $25.28.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.