White Mountain rates Emisphere at sell, drops coverage

White Mountain Capital LLC rated Emisphere Technologies at a sell and dropped its coverage of the stock, citing what it called the firm's significant burn rate and partnering problems. Emisphere lacked consistent clinical and business development progress, causing concerns about the company's ability to sustain operations on terms favorable to shareholders. Shares of the Tarrytown, N.Y., biopharmaceutical company were down 31 cents, or 5.65%, at $5.18 on volume of 470,732 shares versus the three-month running average of 103,010 shares. (Nasdaq: EMIS)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.