Carbylan Therapeutics (NASDAQ:CBYL) has witnessed a rise of 1.5% or 19,411 shares in its short figure. The short interest augmentation took it from 1,297,909 on May 31,2016 to 1,317,320 on June 15,2016. In terms of floated shares, the short interest was calculated to be 10%. The days to cover are 1 given that the daily volume averaged 2,003,767 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Carbylan Therapeutics (NASDAQ:CBYL): The stock opened at $0.75 on Friday but the bulls could not build on the opening and the stock topped out at $0.75 for the day. The stock traded down to $0.69 during the day, due to lack of any buying support eventually closed down at $0.69 with a loss of -10.36% for the day. The stock had closed at $0.77 on the previous day. The total traded volume was 2,217,426 shares.
The company shares have dropped -90.27% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $8.03 and the one year low was seen on Feb 16, 2016. The 50-Day Moving Average price is $0.95 and the 200 Day Moving Average price is recorded at $1.35.
Carbylan Therapeutics (NASDAQ:CBYL) has tumbled 4.98% during the past week and has dropped 34.84% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.4%. Carbylan Therapeutics (NASDAQ:CBYL) has underperformed the index by 32.87% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Carbylan Therapeutics, Inc. (Carbylan Therapeutics) is a clinical-stage specialty pharmaceutical company. The Company is focused on the development and commercialization of combination therapies that address unmet medical needs. The Companys focus is on the development of Hydros-TA, an intra-articular (IA), injectable product candidate to treat pain associated with osteoarthritis (OA), of the knee. Hydros-TA utilizes cross-linking technology to deliver both rapid pain relief with a low dose corticosteroid triamcinolone acetonide, (TA), and sustained pain relief from hyaluronic acid viscosupplement. It is comprised of bacterially-derived HA-based hydrogel particles suspended in a solution of hyaluronic acid. Hydros-TA is being studied in its COR1.1 trial, a Phase III, multi-center, randomized, double-blind, three-arm trial with grade two and grade three OA of the knee.