Arca Biopharma Inc(NASDAQ:ABIO) 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 $-0.43.
Arca Biopharma Inc (ABIO) shares turned negative on Wednesdays trading session with the shares closing down -0.01 points or -0.33% at a volume of 12,050. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.1238. The peak price level was also seen at $3.1238 while the days lowest was $2.99. Finally the shares closed at $3. The 52-week high of the shares is $7.84 while the 52-week low is $2.73. According to the latest information available, the market cap of the company is $27 M.
Several Insider Transactions has been reported to the SEC. On Apr 6, 2016, Michael R Bristow (director officer ) sold 724 shares at $3.52 per share price.Also, On Apr 6, 2016, Brian L. Selby (VP, Finance) sold 1,114 shares at $3.52 per share price.On Apr 6, 2016, Thomas A Keuer (Chief Operating Officer) sold 384 shares at $3.52 per share price, according to the Form-4 filing with the securities and exchange commission.
ARCA biopharma Inc. (ARCA) is a biopharmaceutical company principally focused on developing genetically-targeted therapies for cardiovascular diseases. The Company’s lead product candidate is Gencaro (bucindolol hydrochloride) a beta-blocker and mild vasodilator. Gencaro is being evaluated in a clinical trial for the treatment of atrial fibrillation (AF) in patients with heart failure and left ventricular systolic dysfunction (HFREF). Gencaro is part of the beta-blocker class of compounds because of its property of blocking both beta-1 and beta-2 receptors in the heart. The blocking of these receptors prevents the receptor from binding with other molecules primarily the neurotransmitter norepinephrine (NE) which activate these receptors. The Company is conducting a Phase IIB/III clinical trial of Gencaro known as GENETIC-AF. Data from the Phase III HF trial of Gencaro in 2708 heart failure (HF) patients or the BEST trial suggested that Gencaro reduces or prevents AF.