NephroGenex Inc fka NRXGQ

[gm99]

NRX is searching to complete a reverse merger, currently.

On Feb. 10, 2014, it completed an initial public offering, selling shares for $12 and raising $33 million. By the fourth quarter that year, shares traded as high as $17.98. Using Dec. 31, 2014, as a date of demarcation, NephroGenex was the best-performing IPO of the five Triangle companies to go public that year, a group that included high fliers like INC Research and PRA Health Sciences.

The company reported $11.5 million in cash, cash equivalents and short-term investments on hand. At a share price of 40 cents, where the stock closed Thursday, the company has a market value of only about $5 million, meaning it was trading at a value less than half of the available cash and short-term assets.

The insiders/funds holding 10.4 million shares out of 13 m O/S.

Once the merger deal is settled, it'll skyrocket, as the insiders and funds will try hard to get their huge money back. Not expecting it'll bounce back to $12, but $4-$5 is very possible.

We'll see.