New York, NY – (NISMAGAZINE) – 6/28/2013- Cell Therapeutics Inc (NASDAQ:CTIC) lost 3.48% at $1.11 after trading 1.29 million shares. It is a biopharmaceutical company committed to the development and commercialization of an integrated portfolio of oncology products aimed at making cancer more treatable. At their annual meeting, shareholders approved the election of certain directors and approved an increase in the total number of authorized shares and authorized shares of common stock. The company’s stock has been under selling pressure in the recent trading sessions after the FDA placed a partial clinical hold on the company’s tosedostat blood cancer drug following the death of a patient in a trial in which the treatment was given along with chemotherapy. The company sought to assuage market apprehensions by stating that “This is a partial clinical hold of only part of the clinical work requested under the investigational new drug application. Under a partial clinical hold, although a specific protocol or part of a protocol is not allowed to proceed, other parts of such protocol or other protocols are allowed to proceed under the application.” The company also disclosed yesterday that it had provided certain financial information (not required by US laws) for the month ended May 31, 2013, to the Italian securities regulatory authority CONSOB.
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Federal National Mortgage Association (OTCBB:FNMA) rocketed up 17.8% at $1.39 after trading 79.32 million shares. The stock appeared to be recoup some of the extensive price damage it had suffered during the month after falling from over $2.6 levels. The housing recovery may be clouded after the Fed indicated that it may “taper” off on its monetary easing. The announcement resulted in mortgage rates shooting up by the largest weekly increase in rates in 26 years. This is likely to result in increased mortgage delinquencies, a factor that could work to the detriment of Fannie and Freddie Mac.
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