Just as it’s putting the finishing touches on a private options offering that should net some $3 million in cash, Cambridge Heart Inc. (OTC:CAMH) is warning investors that it will need more money to stay afloat past the end of 2011.
Wall Street Beat
Angiotech Pharmaceutical Inc. (OTC:ANPI) said it reached a settlement with its creditors to accept pennies on the dollar for their stakes in the bankrupt firm.
NeuroMetrix Inc. (NSDQ:NURO) officials continue to look for ways to boost the company’s coffers and shore up its flagging stock price.
The company will ask shareholders at its annual meeting in May to approve a reverse stock split, aimed at resuscitating NeuroMetrix’s flagging share price from around 50 cents apiece to anywhere between $1 and $4 per share. NURO shares have been hovering around 52 cents, up slightly from a 52-week low of 43 cents reached in March 2010.
Shares of Uroplasty Inc. (NSDQ:UPI) surged 15 percent yesterday after the company reported a slew of positive reimbursement news, including a pickup by UnitedHealthcare, the largest health insurer in the U.S.
Angiotech Pharmaceutical Inc. (OTC:ANPI) is giving its creditors a few more days to mull over a settlement that would pay them pennies on the dollar for their stakes in the bankrupt firm.
These are hard times at NMT Medical Inc. (Public, PINK:NMTI), where officials said the company doesn’t have enough money to pay for its annual earnings filing with the federal Securities & Exchange Commission.
Company officials said in Sept. 2010 that its existing cash resources were “not sufficient to fund our business plans, as currently constituted, beyond the fourth quarter of 2010.”
Abiomed Inc. (NSDQ:ABMD) absolutely crushed it during the first quarter, riding the momentum of its Impella heart pump to a 51.2 percent increase in its share price.
The Danvers, Mass.-based company closed 2010 at $9.61 per share. It opened this year up 1.1 percent, at $9.72, and proceeded to go on a tear for the next three months. ABMD stock hit a high-water mark of $14.91 March 30, averaged $12.32 during the quarter and closed the three months ended March 31 at $14.53.
ReGen Biologics Inc. (PINK:RGBO) doesn’t have enough money to pay for its annual earnings filing with the Securities & Exchange Commission.
China Kanghui Holdings (NYSE:KH), a Chinese orthopedic implant maker that went public on the New York Stock Exchange last year, bought out a majority stake of a fellow Chinese implant maker, a move China Kanghui said will make it a player in both the Chinese and international markets by 2014.
The Changzhou, China-based device company said in a regulatory filing that it picked up a 60 percent interest in Beijing Wei Rui Li Medical Device Co. Ltd., a maker of hip and knee systems.
Shares of St. Jude Medical Inc. (NYSE:STJ) hit a 52-week high in mid-day trading on Wall Street today, with investors basking in the glow of a bullish recommendation from a JP Morgan analyst on the company’s new Quadra implantable defibrillator system.
In a note to investors, Michael Weinstein, a J.P. Morgan analyst, called the device “the most important new product” in implantable defibrillators in the last nine years.
BlackRock, which previously owned 42 million shares of SNN stock, acquired nearly 3 million additional shares, according to regulatory filings.