Revenue Update on Ignyta Inc(NASDAQ:RXDX)

Ignyta Inc(NASDAQ:RXDX) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Earnings per share were $-0.70. Analysts had estimated an EPS of $-0.65.

In a different note, JP Morgan said it Initiates Coverage on Ignyta Inc, according to a research note issued on Jun 23, 2016. The shares have been rated ‘Overweight’ by the firm.

Ignyta Inc (RXDX) made into the market gainers list on Wednesdays trading session with the shares advancing 6.47% or 0.36 points. Due to strong positive momentum, the stock ended at $5.92, which is also near the day’s high of $5.9699. The stock began the session at $5.66 and the volume stood at 2,27,392 shares. The 52-week high of the shares is $18.19 and the 52 week low is $4.63. The company has a current market capitalization of $247 M and it has 4,16,51,820 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 4, 2016, Alexander W. Casdin (director) purchased 232,000 shares at $6.25 per share price.Also, On Mar 21, 2016, Hill Venture Partners I, City (10% owner) purchased 24,852 shares at $5.51 per share price.On Mar 21, 2016, Jonathan E Lim (CEO) purchased 24,852 shares at $5.51 per share price, according to the Form-4 filing with the securities and exchange commission.

Ignyta Inc. is a development-stage biopharmaceutical company. The Company is focused on discovering or acquiring then developing and commercializing targeted drugs for cancer patients whose tumors harbor specific molecular alterations. As of March 7 2014 its development plans were focused on two product candidates: RXDX-101 and RXDX-102. The Company also has three discovery-stage programs Spark-1 Spark-2 and Spark-3 directed to oncology targets identified through mining of its database of information from tumor samples called Oncolome. On October 31 2013 IGAS Acquisition Corp a wholly owned subsidiary of the Company merged with and into Ignyta Operating Inc. (Ignyta Operating) and Ignyta Operating survived the merger and became the wholly owned subsidiary of the Company.

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