Arca Biopharma Inc(NASDAQ:ABIO) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during After-Market on Mar 21, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $-0.46.
Arca Biopharma Inc (ABIO) made into the market gainers list on Fridays trading session with the shares advancing 6.00% or 0.15 points. Due to strong positive momentum, the stock ended at $2.65, which is also near the day’s high of $2.7. The stock began the session at $2.55 and the volume stood at 38,319 shares. The 52-week high of the shares is $4.35 and the 52 week low is $2.15. The company has a current market capitalization of $24 M and it has 91,30,926 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Mar 1, 2017, Brian L. Selby (VP, Finance) sold 161 shares at $2.56 per share price.Also, On Mar 1, 2017, Christopher David Ozeroff (S.V.P., General Counsel) sold 465 shares at $2.61 per share price.On Mar 1, 2017, Thomas A Keuer (Chief Operating Officer) sold 465 shares at $2.61 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.