Cempra, Inc., a clinical-stage pharmaceutical company, focuses on developing antibiotics to meet medical needs in the treatment of bacterial infectious diseases in North America. Its lead product candidates include solithromycin (CEM-101), which is in Phase III clinical trials for the treatment of community acquired bacterial pneumonia, as well as for uncomplicated bacterial urethritis; and Taksta, an antibiotic that has completed Phase II clinical trials for refractory bone and joint infections. The company also produces novel macrolides for non-antibiotic uses, such as the treatment of chronic inflammatory diseases, endocrine diseases, and gastric motility disorders. It has collaborative research and development and license agreement with Optimer Pharmaceuticals, Inc. The company was formerly known as Cempra Holdings, LLC and changed its name to Cempra, Inc. in February 2012. Cempra, Inc. was founded in 2005 and is headquartered in Chapel Hill, North Carolina.
CHAPEL HILL, N.C. (AP) _ Cempra Inc. (CEMP) on Thursday reported a loss of $32.3 million in its third quarter. On a per-share basis, the Chapel Hill, North Carolina-based company said it had a loss of 62 cents. The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share. The drugmaker posted revenue of $4 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $3.8 million. Cempra shares have declined 25 percent since the beginning of the year. The stock has climbed 17 percent in the last 12 months.
Ouch! Cempra Inc (NASDAQ:CEMP) shares are 46% in the red after the FDA released background information for the advisory committee scheduled to review solithromycin. What might have spooked some investors was a particular section saying:
The last time CEMP had this kind of volume, there ended up being a vacuum to the upside, check this out:
Todays news: CHAPEL HILL, N.C., Nov. 04, 2016 (GLOBE NEWSWIRE) -- Cempra, Inc. (CEMP), a clinical-stage pharmaceutical company focused on developing antibiotics to meet critical medical needs in the treatment of bacterial infectious diseases, today announced that NASDAQ has halted trading of the company's common stock. The U.S. Food and Drug Administration's (FDA) Antimicrobial Drugs Advisory Committee (AMDAC) is meeting today to discuss the safety and efficacy of solithromycin to treat community-acquired bacterial pneumonia (CABP).
Analyst Upgrade/Downgrade Update Brokerage firm: Needham Change: Coverage Reiterated/Price Target Changed Previous Rating: N/A Current Rating: Buy Previous Price Target: $36 Current Price Target: $15
One point I don't see emphasized enough is a company like this where market cap is barely higher than value of cash in their bank, especially with such a large % of ownership in the hands of institutional investors with a significant amount of experience.
