Bridgepoint DISAPPOINTED by Ashford University’s Accreditation Denial and 2 Stocks that Have Hit 52-Week Lows
Bridgepoint Education (NYSE:BPI) reported that its Ashford University institution received notice on July 5th that its application for initial accreditation was denied by the Accrediting Commission for Senior Colleges and Universities of the Western Association of Schools and Colleges, which is one of out of seven regional accrediting commissions, holding jurisdiction over schools located in the states of California and Hawaii, as well as the U.S. Pacific Islands. Ashford University is disappointed by the Commission’s decision, and has informed the WASC that it intends to initiate an appeal of the decision in accordance within the Association’s established procedures and time frames, and that it also intends to undertake the parallel process allowed by the Association to re-apply for initial accreditation. Moreover, Ashford University is currently accredited by, and in good standing with, the Higher Learning Commission of the North Central Association of Schools and Colleges through the years 2014 to 2015, and at that time it will participate in another comprehensive evaluation to maintain its accreditation. The university has been advised by the HLC that it has until December 1st to show compliance with the HLC’s “substantial presence” requirement. Shares closed down 33.72 percent on the day at $7.25, having traded between $16.01 and $30.62 for the last 52 weeks.
Gevo (NASDAQ:GEVO) has responded to a limited court order relating to an appeal of the U.S. District Court of Delaware’s decision to dismiss its Preliminary Injunction Motion by Butamax Advanced Biofuels: “We anticipated Butamax’s appeal and were satisfied to see that in denying the preliminary injunction request of Butamax the judge’s opinion that plaintiff (Butamax) does not hold a valid patent, nor would the defendant infringe if it did’ remains intact, said Brett Lund, Executive Vice President and General Counsel. The judge did issue a temporary order while Butamax appeals to the Federal Court. Under the temporary order, Gevo remains free to operate in markets such as chemicals, jet fuel, marine fuel, small engine fuel and all other markets, except Gevo may not supply the automotive fuel blendstock market with biobased isobutanol from our Luverne facility during the appeals process. We disagree with that decision and have filed an appeal of the order. Testing for automobile fuels will continue, but with non-biobased isobutanol.” Shares closed down 5.86 percent on the day at $4.18, having traded between $4.35 and $18.75 for the last 52 weeks.
Nymox Pharmaceutical (NASDAQ:NYMX) has provided an update regarding its Phase 3 NX02-0020 repeat injection U.S. study for NX-1207, Nymox’s investigational drug for benign prostatic hyperplasia. The firm said that the recent Safety Monitoring Committee meeting was positive and indicated no significant safety concerns for the trial to date. Recruitment of patients and trial activities for this U.S. Phase 3 Study are almost complete at urology investigative sites throughout the country. Shares closed down 2.95 percent on the day at $6.25, having been traded in a 52-week range between $6.35 and $9.89.
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