S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Health and Healthcare

eXegenics: Dr.Frost Continues His Hot Hand

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

by H.S. Ayoub
BioHealth Investor.com

Back in February, I recommended investing in Continucare (CNU) after doctor Phillip Frost, founder of Ivax Corporation, purchased shares of the healthcare company.

I also explained how it seemed that anything Dr.Frost touches turns into gold. His large purchase of shares of Ladenburg Thalmann Financial Services Inc (LTS) catapaulted the stock to multiple returns, and I continue to hold shares in LTS.

Just last Thursday, March 22nd, Dr.Frost and his group purchased controlling shares of Getting Ready Corporation (GTRY.OB) at around $1.25 a share. The stock ended trading on Tuesday at $2.99 a share!

Today, eXegenics (EXEG.OB), which Dr.Frost and his investment group invested in recently, announced that the empty shell company has agreed to merge with two eye disease biotech firms, and form a new company called Opko Corporation.

Opko will be headquartered in Miami, Dr.Frost’s business stronghold, and will utilize Acuity Pharmaceuticals and Froptix Corporation’s novel eye disease drug programs.

Acuity holds the rights to a drug that successfully completed Phase II clinical trials for wet age-related macular degeneration and diabetic macular edema.

Froptix has a number of drug candidates in preclinical development to treat dry age- related macular degeneration and other ophthalmic diseases. The company also intends to develop complimentary diagnostic tools.

Both companies were privately held.

What really was interesting in Exegenics’ press release today was this statement, "…intends to apply to have its shares listed on the American Stock Exchange"

Shares of Exegenics closed Tuesday’s trading session at $3.28 a share, after closing at $2.52 the day before. I purchased shares at $1.95 shortly after the closing of Dr.Frost’s purchase a couple of months ago.

Here are Dr.Frost stocks I hold:

LTS
bought= $1.09
high= $3.74

CNU
bought= $3.03
high= $3.69

EXEG.OB
bought= $1.95
high= $3.29

Here are some stocks that Dr.Frost has purchased shares of which I do not hold in my portfolio:

Non-Invasive Monitoring Systems Inc.
(NIMU.OB)

Castle Brands
(ROX)

Cellular Technical Services Co.
(CTSC.OB)

Getting Ready Corporation
(GTRY.OB)

Source: BioHealhInvestor.com

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

BioWatch Alert: eXegenics Jumps 10% on Strong Volume, No News!

by H.S. AyoubBioHealthInvestor.com
Ohr Pharma Drops on Secondary Offering
Chris Lange |

Ohr Pharma Drops on Secondary Offering

Ohr Pharmaceutical, Inc. (NASDAQ: OHRP) is watching its shares drop on Thursday after the company announced the pricing of a…
How Adverum Bio Is Winning With FDA Update
Chris Lange |

How Adverum Bio Is Winning With FDA Update

Adverum Biotechnologies shares made a handy gain on Thursday after the company announced a key update from the FDA.
Nightstar Therapeutics Announces Potential Pricing for IPO
Chris Lange |

Nightstar Therapeutics Announces Potential Pricing for IPO

Nightstar Therapeutics intends to price more than 5 million shares in a range that results in an initial public offering…
Opko’s Phillip Frost May Be the Ultimate Insider, as Seen in Recent March Purchases
247patrick |

Opko’s Phillip Frost May Be the Ultimate Insider, as Seen in Recent March Purchases

When it comes to insider transactions, there are few insiders as consistent and successful as Opko Health CEO Phillip Frost.
Merrill Lynch Loves Large Cap Biotech: 4 Top Stocks to Buy Now
Lee Jackson |

Merrill Lynch Loves Large Cap Biotech: 4 Top Stocks to Buy Now

Merrill Lynch recently highlighted sectors it considers a good opportunity now that are likely to outperform in the near term,…
4 Stocks That Are Breaking Hearts on Valentine’s Day
Chris Lange |

4 Stocks That Are Breaking Hearts on Valentine’s Day

A few companies holding back the ongoing rally. In fact, in Tuesday’s session alone some companies have downright broken shareholders’…
Biotech Has Been Crushed: 5 Stocks to Buy Now That Pay Big Dividends
Lee Jackson |

Biotech Has Been Crushed: 5 Stocks to Buy Now That Pay Big Dividends

Shares of five top established and mature biotechnology and pharmaceutical companies have been hit hard and are offering some of…
Chris Lange |

RegenXBio Updates Anticipated Price for IPO

This is a leading biotechnology company focused on the development, commercialization and licensing of recombinant adeno-associated virus (AAV) gene therapy.

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618