posted
Pincher set up. This is more of a technical play than a fundamental play. Do your DD.
Osiris Therapeutics, Inc.
Last Sale $ 7.77 Change Net / % 0.07 0.91% Best Bid / Ask N/A / N/A 1y Target Est: $ 7.00 Today's High / Low $ 8.27 / $ 7.50 Share Volume 1,455,678 50 Day Avg. Daily Volume 531,159 Previous Close $ 7.70 52 Wk High / Low $ 21.65 / $ 7.32 Shares Outstanding 32,715,000 Market Value $ 254,195,550 Annualized Dividend N/A Ex Dividend Date N/A Dividend Payment Date N/A Current Yield N/A Beta 0.13 NASDAQ Official Open Price: $ 8.27 Date of NASDAQ Official Open Price: Sep. 16, 2009 NASDAQ Official Close Price: $ 7.77 Date of NASDAQ Official Close Price: Sep. 16, 2009
Osiris Therapeutics Falls On Drug Trial Results
On Friday September 11, 2009, 4:39 pm EDT Buzz up! 0 Print Companies:Osiris Therapeutics, Inc. COLUMBIA, Md. (AP) -- Osiris Therapeutics Inc. said Friday that its chief financial officer resigned on the same day the company's stem-cell drug candidate Prochymal failed two late-stage studies and the company's stock plunged.
Richard W. Hunt, who had been CFO since July 2008, resigned on Tuesday "to pursue new professional opportunities, effective immediately," the company said in a filing with the Securities and Exchange Commission.
It said Hunt would be replaced as CFO by Philip R. Jacoby Jr., 57, who is also vice president of finance, corporate secretary, and chief accounting officer.
The company said Hunt signed an agreement on Wednesday to remain available to the company through December to help with the transition of his duties. The company agreed to pay him two months of his base salary.
The failure of Prochymal sliced one-third off the value of the company's shares, which had finished last week at $12.21. They opened at $7.40 on Tuesday morning after the news broke. On Friday, they rose 10 cents to close at $7.94.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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