December 29, 2016: OvaScience moving higher after popular biotechnology blogger makes positive comments on Twitter. @BioBreakthrough tweets: “Long 100,000 shares of $OVAS. Stock could double in early January as tax loss selling abates. ~ $4/share in cash, multiple 2017 catalysts.”
Long 100,000 shares of $OVAS. Stock could double in early January as tax loss selling abates. ~ $4/share in cash, multiple 2017 catalysts.
— BiotechBreakthroughs (@BioBreakthrough) December 29, 2016
December 21, 2016: OvaScience announces that they will undergo corporate restructuring and cut workforce by 30%. The Company will continue to make AUGMENTSM available to patients at partner clinics in Canada and Japan and maintain its current commercial footprint. However, the Company will slow its commercial expansion, reassess its ongoing and planned clinical studies of AUGMENT, and undertake a corporate restructuring. These changes will enable the Company to extend its cash position into the first quarter of 2019 and increase its focus on the development of OvaPrimeSM and OvaTureSM.
In connection with this shift in strategy, President and Chief Executive Officer, Harald Stock, Ph.D. and Chief Operating Officer, Paul Chapman, who were brought on board to lead a global commercial expansion of AUGMENT, have chosen to step down to seek new opportunities. The Company will also reduce its workforce by approximately 30 percent. Michelle Dipp, M.D., Ph.D., Executive Chair and co-founder of OvaScience, will oversee operations while the Company conducts a comprehensive search for a new chief executive officer.
November 4, 2016: H.C. Wainwright/ Rodman & Renshaw reiterates a Buy rating on OvaScience and sets a price target of $15.
OvaScience Stock Chart
OvaScience is a global fertility company dedicated to improving treatment options for women around the world. OvaScience is discovering, developing and commercializing new fertility treatments because we believe women deserve more options. Each OvaScience treatment is based on the Company’s proprietary technology platform that leverages the breakthrough discovery of egg precursor (EggPCSM) cells – immature egg cells found inside the protective ovarian lining. The AUGMENTSM treatment, a fertility option specifically designed to improve egg health, is available in certain IVF clinics in select international regions outside of the United States. OvaScience has commenced a non-commercial preceptorship program with OvaPrimeSM treatment, which could increase a woman’s egg reserve, and is developing the OvaTureSM treatment, a potential next-generation IVF treatment that could help a woman produce healthy, young, fertilizable eggs without hormone injections. OvaScience treatments are not available in the United States.