Mast Therapeutics, Inc. (MSTX)

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Most volatile stock under 1 could fly now that financing has been completed


In the after hrs today, we paid special attention to the fact that highly volatile stock ANX has completed a large round of financing.

ADVENTRX Pharmaceuticals Announces Closing of FinancingPR Newswire(Thu 4:18pm) Excerpt: ...ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) announced today that it has completed the previously announced sale of shares of its Series E convertible preferred stock pursuant to a registered direct offering to institutional investors, representing gross proceeds to ADVENTRX of approximately $19 million. ADVENTRX plans to use the net proceeds from the offering to fund activities relating to the commercial launch of ANX-530

When the financing news had been announced on Jan 4th, we reported at www.greenbackers.com the stock staging an abrupt face from .40. ADVENTRX Pharmaceuticals Announces FinancingPR Newswire(Mon, Jan 4)

What was a little unusual was the stock price fell well below the offering price: excerpt: .....The warrants will have an exercise price of $0.3499 per share....

Another factor in the stocks favor, aside from the completion of financing, is that anticipation is likely to build on an upcoming conference.

ADVENTRX Pharmaceuticals to Present at the OneMedForum Finance Conference on January 13PR Newswire(Wed 8:00am)

While researching the stock we came across this takeover speculation article which sparked a late day runup from .27 to .33 earlier in the week.


http://www.examiner.com/x-3765-Denver-Stock-Market-Examiner~y2010m1d7-Most-volatile-stock-under-1-could-fly-now-that-financing-has-been-completed