Cerulean Pharma Inc (CERU) was Downgraded by Leerink Partners to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Leerink Partners advised their investors in a research report released on Aug 18, 2016.
Cerulean Pharma Inc closed down -0.12 points or -4.20% at $2.74 with 4,81,859 shares getting traded on Wednesday. Post opening the session at $2.85, the shares hit an intraday low of $2.62 and an intraday high of $2.85 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Feb 23, 2016, David R Walt (director) purchased 2,291 shares at $2.08 per share price.
Cerulean Pharma Inc. is a clinical-stage oncology-focused company. The Company applies its Dynamic Tumor Targeting platform to develop differentiated therapies. Its platform utilizes nanoparticle-drug conjugates (NDCs) which consist of polymers that are covalently linked to anti-cancer therapeutics or payloads. Its development-stage pipeline includes CRLX101 and CRLX301. The Company’s lead product candidate CRLX101 is a tumor targeted NDC in Phase II clinical development and has the potential to improve outcomes for patients in combination with other cancer treatments. A Phase II randomized controlled company-sponsored trial is conducted comparing CRLX101 administered in combination with Avastin in patients with renal cell carcinoma. CRLX301 is its second platform-generated clinical candidate is a tumor-targeted NDC in Phase I clinical development. CRLX301 is designed to concentrate in tumors and slowly release its anti-cancer payload docetaxel inside tumor cells.