Novogen Limited (ADR) (NASDAQ:NVGN) is currently trading at $1.51, 39 cents or
34.82% above its previous day close on no significant news of accord. Shares of
an Australia-based biotechnology company gained 97 cents or 206.61% in last 1
month trading sessions from $0.54 on Dec 27 to $1.51 in today's trading
session with overall volume of 1.77 million shares. The Company recently
announced that they have received notice from NASDAQ advising that it has been
granted an additional 180 calendar days, or until 18 July, 2011, to regain
compliance in accordance with NASDAQ Rule 5810(c)(3)(A). On Dec 21, the company
along with Marshall Edwards, Inc. announced that they have entered into a
definitive asset purchase agreement pursuant to which Marshall Edwards will
acquire Novogens isoflavone-based intellectual property portfolio in exchange
for $4 million of convertible preferred stock. Each share of the 1,000 shares of
Class A Preferred Stock is convertible into a minimum of 4,827 shares of
Marshall Edwards common stock valued at $4 million based on the volume weighted
average price over the prior 20 trading days. So far this year, the stock is now
down 46.34%. It has a 52-week range of $0.41-$2.75. The stock opened at $1.13
and touched the intraday high of $1.60 and low of $1.12. Volume of 1.14 million
shares has traded, compared to its average volume of 71,827 shares. At the
current market price, the market capitalization of the stock stands at $29.37
million with beta of 1.93. The company has total outstanding shares of 20.42
million, of which 14.21 million shares are floating. On a technical basis, the
stock is trading above its 50-Day Moving Average and 200-Day Moving Average of
$0.56 and $0.54 respectively. Novogen Limited is an Australia-based
biotechnology company engaged in pharmaceutical research and development, as
well as marketing of consumer healthcare products. The Company is primarily
involved in the development of prescription drugs based on the isoflavonoid
technology platform. Disclaimer: The assembled information distributed by
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