Spherix Incorporated (Nasdaq: SPEX) spotted trading -65.24% off 52-week high price. On the other end, the stock has been noted 18.04% away from the low price over the last 52-weeks. The stock changed 3.62% to recent value of $2.29. The stock transacted 117281 shares during most recent day however it has an average volume of 68.63K shares. The company has 2.57M of outstanding shares and 2.33M shares were floated in the market.
Spherix Incorporated (Nasdaq: SPEX) announced that the Company has executed an exclusive option agreement (“Option”) with the University of Kentucky (UK) related to its anticancer drug designated G4-1, a novel proteasome inhibitor.
Spherix’s Option includes two issued patents, United States Patent Nos. 9,493,439 and 9,586,946, each having expiration dates in the mid-2030’s. The lead inventors for both patents are Chang-Guo Zhan, professor, and Kyung Bo Kim, associate professor, in UK’s College of Pharmacy. Under the Option, Spherix has until late November to complete its due diligence and execute a license agreement for commercial development.
“Early research indicates great potential for the University of Kentucky’s anticancer drug G4-1. The published data is extremely encouraging, especially the drug’s benefits over already-approved drugs,” stated Mr. Anthony Hayes, CEO of Spherix. “We believe G4-1 will be a strong compliment to CBM’s lead compound, the pancreatic drug Gem-DHA, for which a U.S. patent will soon be issued. We expect it will add great value to our overall clinical development strategy and look forward to completing our diligence on this promising anticancer drug.”
“I am pleased that our team has once again identified and completed a transaction that we believe can yield exceptional financial benefit to Spherix and its shareholders,” added Hayes.
Its earnings per share (EPS) expected to touch remained 135.90% for this year .
According to the most recent quarter its current ratio was 1.8 that represents company’s ability to meet its current financial obligations. The price moved ahead of 5.13% from the mean of 20 days, 0.08% from mean of 50 days SMA and performed -25.17% from mean of 200 days price. Company’s performance for the week was 5.05%, 8.53% for month and YTD performance remained -16.27%.
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