Shares of GlobeImmune (GBIM) Up on Pending Reverse Merger Speculation

Share

Shares of GlobeImmune Inc (NASDAQ: GBIM) are up today in afternoon trading on speculation that there is a forthcoming merger.  While no official news has been released since their third quarter results back on November 13th, investors are speculating that the company will enter into some sort of reverse merger before the end of 2015.

The company has previous engaged Cantor Fitzgerald & Co. in order to explore merger possibilities, or the sale of their assets.  While some may see a merger as detrimental to the original business plan of the company, others seem to have hopes that a merger could be very beneficial to the company in the long run.

Shares of GlobeImmune are down 53.8% YTD and up 58.3% in the past 5 days.  Today alone, the stock has gained 39.55% or $1.35 per share.  GlobeImmune is a clinical stage biopharmaceutical firm located in Louisville, Colorado.  They specialize in developing vaccines which treat infectious diseases as well as cancer.  They currently have a couple therapeutic vaccines in clinical trials: GI-6301 and GI-6207, which are both intended for use on patients with cancer.  Unfortunately the company announced this past July that they would significantly reduce their workforce.

It should be interesting to follow this stock as the day goes on, and see if we do in fact see any sort of merger in the coming weeks, leading up to the new year.  Today 396,426 shares have traded hands, blowing away the 3-month average of 34,478.  With a market capital of 27.77 million and a relatively low float, this company could make for the perfect reverse merger candidate.

COMMENTS: