OncoGenex Pharmaceuticals (OGXI) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 639,262 to 593,177 shares, with 7 days to go before the expiry. The short open interest has decreased by -7.2%, amounting to a reduction of -46,085 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 2% of the float of the company. The average daily volume of the stock is 88,324 shares. The short interest information was released on Wednesday Aug 24th after the market close.
OncoGenex Pharmaceuticals (NASDAQ:OGXI): The stock opened at $0.61 on Wednesday but the bulls could not build on the opening and the stock topped out at $0.63 for the day. The stock traded down to $0.59 during the day, due to lack of any buying support eventually closed down at $0.60 with a loss of -0.22% for the day. The stock had closed at $0.60 on the previous day. The total traded volume was 235,887 shares.
In a related news,The officer (EVP, CMO) of Oncogenex Pharmaceuticals, Inc., Jacobs Cindy sold 1,437 shares at $1.02 on June 13, 2016. The Insider selling transaction had a total value worth of $1,466. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
OncoGenex Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in the development and commercialization of new therapies that address treatment resistance in cancer patients. The Company has three product candidates in its pipeline: custirsen, apatorsen and OGX-225. Of the product candidates in its pipeline, custirsen and apatorsen are clinical-stage assets being evaluated in two Phase III studies and five Phase II studies. These product candidates focus on mechanisms of treatment resistance in cancer patients and are designed to block the production of specific proteins that promote treatment resistance and survival of tumor cells and are over-produced in response to a variety of cancer treatments.