Apr 29, 2016

Posted by in Biotech Stocks | 0 Comments

Stocks in the News: Alexion Pharmaceuticals Inc (NASDAQ:ALXN), Cytori Therapeutics Inc (NASDAQ:CYTX), Immunomedics Inc (NASDAQ:IMMU)

Stocks in the News: Alexion Pharmaceuticals Inc (NASDAQ:ALXN), Cytori Therapeutics Inc (NASDAQ:CYTX), Immunomedics Inc (NASDAQ:IMMU)

Alexion Pharmaceuticals Inc (NASDAQ:ALXN) stock is at $142.53, down -5.47 percent from its previous close of $150.78. The stock opened the session at $142.99 and touched its highest price point at $146.48. The company’s stock’s lowest price point for the session stood at $139.12. Its yesterday’s volume was 3.28 million shares in comparison to its usual trading volume of 1.58 million shares.

Alexion Pharmaceuticals Inc (NASDAQ:ALXN) on April 28, 2016 announced financial results for the first quarter of 2016. Total revenues grew to $701 million, a 17 percent increase, compared to $600 million for the same period in 2015. In the first quarter, the negative impact of currency on total revenue was 5 percent or $30 million, net of hedging activities, compared to the same quarter last year. First quarter revenue growth was further negatively impacted by increased macroeconomic weakness in Latin American countries, primarily Brazil and Argentina. Non-GAAP diluted earnings per share (EPS) for the first quarter of 2016 was $1.11 per share, compared to $1.28 per share in the first quarter of 2015. On a GAAP basis, diluted EPS for the first quarter of 2016 was $0.41 per share, compared to $0.45 per share in the first quarter of 2015.

First Quarter 2016 Financial Highlights

  • Soliris® (eculizumab) net product sales were $665 million compared to $600 million in Q1 2015. Net product sales increased 11 percent year-on-year, despite continued currency headwinds as well as increased macroeconomic weakness in Latin American countries, primarily Brazil and Argentina. Soliris volume increased 18 percent year-on-year.
  • Strensiq® (asfotase alfa) net product sales were $33 million.
  • Kanuma® (sebelipase alfa) net product sales were $2.5 million.
  • Non-GAAP R&D expense was $158 million, compared to $97 million in the same quarter last year. GAAP R&D expense was $176 million, compared to $221 million in the same quarter last year.
  • Non-GAAP SG&A expense was $194 million, compared to $157 million in the same quarter last year. GAAP SG&A expense was $233 million, compared to $187 million in the same quarter last year.
  • Non-GAAP diluted EPS was $1.11 per share, compared to $1.28 per share in the same quarter last year. On a GAAP basis, diluted EPS was $0.41 per share, compared to $0.45 per share in the same quarter last year.

Cytori Therapeutics Inc (NASDAQ:CYTX) stock is at $0.340, down -2.86 percent from its previous close of $0.35. Its yesterday’s volume was 3.23 million shares in comparison to its usual trading volume of 2.35 million shares. Previous 5 days graph demonstrated a positive move of 14.21%. Its quarterly performance remained green with the percentage of 74.36, while its year to date performance showed that the stock advanced overall 78.95%.

Cytori Therapeutics Inc (NASDAQ:CYTX) on April 18, 2016 announced a number of key additions to its patent portfolio in Japan and Europe. The company now has 85 global patents issued, 12 of which are in Japan, and another 55 pending around the globe.

The Japanese Patent Office recently granted to Cytori patent No. 5,883,553 which is a foundational patent for the production of cellular and tissue therapeutics containing a combination of adipose tissue with adipose-derived regenerative cells. This patent broadly protects methods for manufacturing therapeutics including those currently being used in Cytori-supported ADRESU phase III urinary incontinence trial in Japan as well as many other indications in the urology, reconstructive and aesthetic markets. This patent protects the Cytori Cell Therapy™ and systems for these applications through at least 2022.

Cytori has also recently strengthened its position in the European market by adding several patents to its existing European portfolio of 8 patents, and by successfully opposing 2 third party European patents related to its core technology.

The European Patent Office granted Patent No. 1921133, which protects current and next generation cellular therapeutic manufacturing technology throughout Europe. The ‘133 patent claims protect Cytori’s technology across all of its clinical indications. Also granted were European Patents No. EP1778293 and EP1776126 that protect cellular therapeutics in the treatment of degenerative disc disease and stroke, respectively.

Immunomedics Inc (NASDAQ:IMMU) traded in the range of $3.60 and $3.86 in its previous trading session. The stock recorded the volume of 3.01 million shares so far, in comparison its average daily trading volume of 816,257.00 shares. Company’s year to date performance remained quiet optimistic with the rise of 24.26%. The stock opened at $3.68 and its closing price for the day was $3.79, up +2.71 percent from its previous close.

Immunomedics Inc (NASDAQ:IMMU) on April 28, 2016 announced that it will host a conference call and live audio webcast on Thursday, May 5, 2016 at 10:00 a.m. Eastern Time to discuss financial results for the third quarter of fiscal year 2016, and review key clinical developments and future planned activities. The Company plans to report its financial results for the third quarter ended March 31, 2016 after the close of U.S. financial markets on Wednesday, May 4, 2016.

Immunomedics is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Immunomedics’ advanced proprietary technologies allow the Company to create humanized antibodies that can be used either alone in unlabeled or “naked” form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.

 

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