Biotech Unusual Volume: Zalicus Inc (NASDAQ:ZLCS), ImmunoGen (NASDAQ:IMGN), Transition Therapeutics (NASDAQ:TTHI), Lpath (NASDAQ:LPTN)



Zalicus Inc (NASDAQ:ZLCS) will merge with Epirus Biopharmaceuticals in an all-stock transaction. Zalicus will be known as Epirus and will operate under the latter company’s management team led by Amit Munshi as president and CEO. Current Zalicus Inc (NASDAQ:ZLCS) stockholders will own approximately 19% of the company. The merger will create a publicly-traded company listed on the NASDAQ. Zalicus Inc (NASDAQ:ZLCS) stock performance was 31.07% in last session and finished the day at $1.35. Traded volume was 13.62million shares in the last session and the average volume of the stock remained 703.34K shares. The beta of the stock remained 1.47. Zalicus Inc (NASDAQ:ZLCS) insider ownership is 2.40%.

According to Canaccord, it believes that ImmunoGen Inc. (NASDAQ:IMGN) and Roche’s drug, Kadcyla — a targeted antibody payload therapy that piggybacks a toxin onto an antibody and delivers that toxin to targeted cancer cells — will be successful in a late-stage trial in treating HER2-positive metastatic breast cancer. ImmunoGen, Inc. (NASDAQ:IMGN) rose 11.02 percent to $14.21 Wednesday on volume of 2.85million shares. The intra-day range of the stock was $13.40 to $14.79. ImmunoGen, Inc. (NASDAQ:IMGN) has a market capitalization of $1.22billion.

Transition Therapeutics Inc. (USA) (NASDAQ:TTHI) reports that there are no undisclosed material changes or corporate developments involving the Company to account for its recent change in stock price. Transition Therapeutics Inc (USA) (NASDAQ:TTHI)’s stock on Apr 16, 2014 reported a increase of 11.47% to the closing price of $5.54. Its fifty two weeks range is $1.93 -$8.22. The total market capitalization recorded $177.09million. The overall volume in the last trading session was 312,647.00million shares. In its share capital, TTHI has 31.89million outstanding shares.

Lpath Inc. (NASDAQ: LPTN), analyst John Newman is calling for a massive upside of nearly 300%. Lpath was started as a Buy rating, and it was given a $17 price target. The upside target is high compared to a $4.25 prior closing price that. It was $17. Newman’s thesis is based on Lpath’s iSONEP chance of being paradigm-changing in wet AMD (age related macular degeneration) with some $2.4 billion in peak sales potential. On Wednesday, shares of Lpath, Inc. (NASDAQ:LPTN) advanced 7.53% to close the day at $4.57. Company return on investment (ROI) is -76.00% and its monthly performance is recorded as -10.57%. Lpath, Inc. (NASDAQ:LPTN) quarterly revenue growth is -6.16%.

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