NEW YORK, NY / CRWEPRESSRELEASE / August 11, 2015 / Aquinox Pharmaceutical Inc. (NASDAQ: AQXP) a clinical-stage pharmaceutical company, engaged in discovering and developing targeted therapeutics for diseases in the areas of inflammation and immuno-oncology, recently released its second quarter 2015 financial results showing a net loss EPS of $(0.49) versus estimates of $(0.44). This positive news accompanied by positive mid-trial results from its AQX-1125 drug candidate, sent the stock soaring nearly 2000%.
The jump in share price was likely a result of the low float in the stock structure and the heavy buying from institutional investors including Bake Brothers Investments who increased their stake in the company to 40%. Large drug maker also showed interest in the company filing SEC reports indicating a stake in the company. This rocket will certainly be news driven for the next several months as investors have had their eyes turned towards the stock.
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