Sophiris Bio Inc (NASDAQ:SPHS) is looking to venture into the debt market, a move that has not gone well with some investors. The biopharmaceutical company plans to offer and sell its common shares in open market, subject to market and other conditions.

 Secondary Offering

The company has yet to issue the finer details of the amount of shares it plans to sell or at what price they will go on sale. However, it has appointed Piper Jaffray as the sole book-running manager for the offering. News of the proposed offering did not go well with investors seen by the stock plummeting by more than 20% before bouncing back and closing the day on the green.

The proposed offering also comes on the heels yet another offering issued in May where the company raised $4.6 million. The news continues to rattle investors most of whom are already questioning how solid the company is, financially.

News of the proposed secondary offering comes on the heels of yet another disappointing news on the clinical trial front. Sophiris Bio has confirmed that it is not planning to pursue new clinical trials until it obtains additional financing. However, it has reiterated that it is evaluating options on how to proceed with the clinical development of Topsalysin.

 Q2 Earnings

 Separately Sophiris Bio posted a net loss of $4.1 million for the three months ended June 30 an increase from a net loss of $3.7 million or $0.22 a share for the same period last year. For the first six months of the year, the company says it had a net loss of $ 6.3 million, an improvement from a net loss of $8 million for the first six months of last year.

Cash and cash equivalents as of June 30, 2016, stood at $8.3 million backed by a net working capital of $5.7 million. Sophiris Bio Inc (NASDAQ:SPHS) has sought to quash investors’ concerns about its financial position by reiterating that it has sufficient funds to cater for operations for at least twelve months.

Iddriven Inc (OTCMKTS:IDDR) Files 2Q2016 Financial Report

Iddriven Inc (OTCMKTS:IDDR) has filed its quarterly report for the 2Q2016, recording revenues of $5,241, over $22,000 lower than that of the preceding year. Moreover, the company saw a surge in its operating expenses, of over $350,000. However, IDDR recorded a positive change in fair value and derivative liability, which helped the company report a net income for the 2Q2016. Iddriven had a net loss of $176,000 during the 2Q2015, as compared to a net profit of $248,500 this year.

Moreover, IDDR was able to improve its cash position for the 1H2016, as compared to the 2H2015, by over $20,000. The balance sheet for the 1H2016 also revealed that the company had acquired convertible debt of over $570,000 during the 1H2016. Added to this, the company revealed that it plans to raise additional funds through equity or debt offerings. It should be noted here that IDDR last conducted a forward stock split in January 2016, with a ratio of 1 for 6.