Diamonds and Dogs
12/1/14Can-Fite BioPharma Ltd. (CANF)
Can-Fite BioPharma is trading higher today, up 18.34% to $4.85. The biopharmaceutical company saw its shares jump over $1.00 intraday after news of a potential breakthrough for its drug. Researchers from St. Louis University found that Can-Fite's drug, CF-101, binds itself to the A3 adenosine receptor to reduce neuropathic pain in animal models. The good news shines some light on the progress of Can-Fite and investors seem to be jumping on board. Shares of Can-Fite climbed as high as $5.47, but sold off a bit coming into the close. Can-Fite's 52-week high is $9.46.
Goodrich Petroleum Corp. (GDP)
Goodrich Petroleum is burning down today, down 18.44% to $4.93. The oil and natural gas company saw its shares fall after oil continued its downward spiral (before its late rally). Oil prices hitting a five-year low weighed heavily on the Goodrich and many other oil companies. Further kicking Goodrich down was a downgrade from KeyBanc Capital Markets, who moved the company from buy to hold citing too much uncertainty surrounding balance sheet constraints. Shares of Goodrich fell over $1.00 today and hit a new 52-week low of $4.36 intraday.