狗仔卡
发表于 2015-8-8 07:51 AM
Summary
- I discuss the sudden pullback we saw in the broad biotech sector yesterday.
- I also discuss 2 short articles published here on seekingalpha, which coincided with the pullback and had some impact on stock prices of CTIX.
- Despite all that, Orexigen did well yesterday. There were also many earnings.
Dr De's Opening Thoughts 1: What went wrong with biotech yesterday
It was a terrible day for the biotech sector as the iShares NASDAQ Biotechnology Index ETF (NASDAQ:IBB) fell more than 4% and the SPDR S&P Biotech ETF (NYSEARCA:XBI) fell more than 5%. Despite the sharp pullback on Thursday, both ETFs are sharply higher for the year. While XBI is still up more than 31% for the year, and IBB is up more than 21%.
Thursday's sell-off is being seen by technical traders as a sign of weakness. Indeed, technical indicators are suggesting bearish sentiment. Below is the daily price chart of IBB and as you can see on Thursday, the ETF crossed below its 50-day moving average, which technical traders see as a bearish signal. But should this be a concern for investors who focus on the fundamentals?
Source; stockcharts.com
Remember that trading activity during the month of August is generally light so there is a high chance of a sharper pullback. Also, it must be noted that the broader market also saw a sharp pullback on Thursday, with seven of the 10 S&P 500 sectors ending the day in red. I don't think the pullback on Thursday is a sign of further weakness in the biotech sector as some are suggesting. Some of the biggest players in sector like Gilead Sciences (NASDAQ:GILD) and Amgen (NASDAQ:AMGN) are undervalued. There has been strong demand for recent IPOs, including Aimmune Therapeutics (NASDAQ:AIMT), which surged more than 50% on its trading debut. It is possible that investors are expecting a rate hike from the Federal Reserve next month and therefore pulling some money out of risk assets.
Related Thought: 2 short SeekingAlpha articles taking advantage of the biotech pullback
Yesterday, two short articles were written on seekingalpha that may have had major impact on their respective stock's prices. One was on Cellceutix (OTCPK:CTIX), which saw the stock go down by 30%. The other, on Anavex (OTCQX:AVXL) and released around 10am, saw the stock go down sharply around noon, but then it recovered, closing only 3% lower.
The Anavex article was written by an anonymous author who said s/he was a student of Timothy Sykes. The article said there were 40 million outstanding Anavex warrants at $.25 which, if dumped, (he assumed they would be dumped, but I don't think so) would bring the stock down by 70%. Longs responded by saying that was already priced into the stock. The author took care of the science discussion my just mentioning my article and saying it's been done. Very cavalier. I felt that the article's lack of focus on the science of an early stage startup didn't bode well for its fairness. Early stage startups often have shoestring budgets, but if they have good science, then there's hope. Anavex has been up 200% since I bought it last month, and although I expect a corrective pullback, I don't think there's any basis for a short thesis that sees a 70% devaluation.
On the other hand, the Cellceutix article targeted the company itself, said it was a scam. It was written by another anonymous author, Mako Research - this was their first article on SA. Now, I wrote on CTIX before, and I too didn't like the fuzziness around Krishna Menon's CV. However, a few things that I verified there looked solid to me - one, Dana Farber indeed has Kevetrin on its trial program, two, Krishna Menon has patents in his name, three, Brilacidin and Plurisol are on clinicaltrials.gov, four, Krishna Menon did present at ECCMID, and fifth, there is at least one peer reviewed study comparing Brilacidin with Daptomycin.
However, when I Googled Mako Research, I didn't find them on Dana Farber, nor did they have any patents or had peer reviewed articles discussing them.
I am not currently invested in CTIX, but just to satisfy my curiosity, I intend to investigate this more thoroughly. It isn't difficult to send somebody to a Manhattan office and take some pictures. Until then, I reserve my judgment, and base my opinion about CTIX solely on what I had verified earlier.
UPDATE - Just now, CTIX published a point by point rebuttal on the scientific aspects - or lack thereof - of the short article. The principal issues are with gram-negative and gram-positive bacteria (where Brilacidin is effective), the p53 Guardian Angel gene, and the shorters lack of scientific understanding. I am still going through the rebuttal. But I quickly noted it doesn't mention Krishna Menon or the other personalities involved, except the CEO of Polymedix. They really want to clear up the confusion around Krishna Menon. Shareholders will forgive an error or two in an early startup, if they exist; but obfuscation may be more severely considered.
Focus Ticker: Orexigen
Despite a sharp pullback in the biotech sector, Orexigen Therapeutics (NASDAQ:OREX) shares rallied more than 9% on Thursday. The rally was sparked after the maker of weight loss drug Contrave reported Q2 results.
Orexigen was one of the three companies in the race to develop anti-obesity drugs; the other two being Arena Pharmaceuticals (NASDAQ:ARNA) and VIVUS Inc. (NASDAQ:VVUS). Back in 2010/2011, all three companies generated significant excitement among investors. This was because the FDA had not approved any anti-obesity drug for more than a decade.
Orexigen fell behind in the race though as its NDA for Contrave was rejectedby the FDA in 2011. But that has turned to be not such a bad thing for OREX as the company had the chance to learn from the mistakes made by Arena and VIVUS when they launched their drugs. Arena and VIVUS launched their drug in 2013 and 2012, respectively, while Orexigen's Contrave was finally approved by the FDA in September 2014.
On Thursday, Orexigen reported revenue of $5.19 million, beating consensus forecast by $0.27 million. The company earned $3.1 million in royalties on U.S. net sales of Contrave. As SA author Spencer Osborne noted in a recent article, Contrave is leading the way in the anti-obesity market, with 38% market share. The problem for Orexigen, and the other players in the anti-obesity market, though is that weight loss drugs have failed to take off as investors had expected.
Orexigen also announced on Thursday that it has amended and restated its collaboration agreement with Takeda Pharmaceutical. With it, the two companies have resolved all outstanding disputes.
Sector News
Mylan CEO Says Company Has Other Options- Mylan (NASDAQ:MYL) CEO Heather Bresch said the company has other options if it fails to acquire Perrigo (NYSE:PRGO). Speaking to Reuters, Bresch said that getting the deal done though remains a top priority. Bresch is confident the company can complete the acquisition by the end of this year. Mylan shareholders will vote on whether to proceed with the offer later this month. I had noted in an article last week that Mylan shareholders should vote against the deal, especially if the company raises its offer. Mylan also reported its Q2 results on Thursday. The generic drugs company, which itself was a takeover target until recently,reported revenue of $2.37 billion, up 28.8% on a year-over-year basis. The company's revenue was $20 million below the consensus forecast. Mylan's second-quarter earnings of $0.91 per share though beat consensus forecast by 2 cents.
PBMs Step Up Pressure on Drug Makers- Pharmacy benefit managers such as Express Scripts (NASDAQ:ESRX) have been extremely vocal in their criticism about high cost of some of the new drugs such as Gilead Sciences Sovaldi/Harvoni and the recently approved PCSK9 inhibitor Praluent. According to the Wall Street Journal, PBMs have adopted some tough tactics to control rising drug costs. The Journal, for example, noted CVS Health's (NYSE:CVS) decision to stop covering anti-impotence pill Viagra for several of its members. A CVS spokeswoman told the WSJ that the strategy of excluding drugs has led to "significant savings." And it is not just PBMs that are worried about high cost of drugs. Even regulators have raised questions about cost of some drugs. According to report by the Financial Times, Pfizer (NYSE:PFE) has come under scrutiny for inflating the price of its anti-epilepsy drug.
Allergan Looking to Spend All That Cash, Reports Q2 Results- The $36 billion cash Allergan (NYSE:AGN) netted from the sale of its generic business to Teva Pharmaceutical (NYSE:TEVA) last week will be spent on acquisitions. Brent Saunders, the company's CEO, told the Financial Times that there was "certainly more to come" on the acquisitions front. We have already seen record M&A activity in the first seven months of 2015 in the healthcare sector. And looks the trend will continue for the remainder of the year. Allergan alsoreported its Q2 results on Thursday. The company posted second-quarter revenue of $5.76 billion, up 115.8% on a year-over-year basis. Net loss for the quarter $243.1 million. On a per share basis, AGN reported a net loss of $0.80.
Drug Approvals
ViiV Healthcare (NYSE:GSK) received labeling revisions for Triumeq and Tivicay. Tivicay is just doluetegravir, while Triumeq is abacavir, dolutegravir and lamivudine. Tivicay was approved in 2013 and was then touted as giving competition to Stribild and Complera from Gilead. It was expected to reach peak sales of $5 billion by the 2020s. GSK very smartly offset generic availability in third world countries by voluntarily offering licenses to generic drug makers in those countries. Initially priced at around $1200 in the US compared to $2400 for Stribild, it would have been only $30 in a country like South Africa where such a license was available. Then Triumeq came over, which was a three-in-one treatment including Tivicay, Ziagen and Epivir, old drugs, some with their own problems, but each somewhat capable against the virus, now in a combo pill. It doesn't also contain tenofovir, avoiding the problems of tenofovir. I have written extensively about Triumeq and what Gilead is doing to compete with its TAF drugs.
Astellas (OTCPK:ALPMY) had a labeling revision for Xtandi, its enzalutamide product indicated for "metastatic castration-resistant prostate cancer. It has a worldwide partnership with Medivation (NASDAQ:MDVN) for marketing Xtandi, which had US sales of $1 billion-plus last year, earning the two companies revenues of $650 million." Xtandi competes with Johnson & Johnson's (NYSE:JNJ) Zytiga, older drugs like Jevtana from Sanofi (NYSE:SNY) and Provenge from Dendreon (NASDAQ:DNDN), although, due to its better safety profile and oral availability, Xtandi is at least better than the last two. It has been approved for pre-chemo mCRPC, giving it an edge. However, a recently released ASCO scoring system for cancer drugs had an effect on MDVN's stock, as you can see in this article.
Janssen had an efficacy supplement with clinical support data for Simponi Aria, its golimumab product indicated for Rheumatoid arthritis. "SIMPONI ARIA is a tumor necrosis factor (TNF) blocker indicated for the treatment of adult patients with moderately to severely active Rheumatoid
Arthritis (NYSE:RA) in combination with methotrexate." Simponi Aria IV and Simponi had global sales of $300 million in the previous quarter, a rise of $15% from the same quarter in 2014. Simponi has also been approved for ulcerative colitis.
Allergan had a labeling revision for Botox. Botox has dozens of medical and cosmetic uses, and Allergan is the largest producer of botulinum toxin under the Botox brandname. In the second quarter, Botox revenue was $632 million, beating the $594.5 million average estimate. This July, Allergan had a $40.5 billion deal with Teva to sell its generic division. Allergan was recently acquired by Actavis for $72 billion, which took its name. According to Bloomberg, "with the cash set to arrive from Teva and an eased debt load, the company is on the prowl for big deals again, Chief Executive Officer Brent Saunders said last month." The entire list of Botox indicates is here:
BOTOX is an acetylcholine release inhibitor and a neuromuscular blocking agent indicated for:
•Treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency, and frequency, in adults who have an inadequate response to or are intolerant of an anticholinergic medication.
•Treatment of urinary incontinence due to detrusor overactivity associated with a neurologic condition [e.g., spinal cord injury (NYSE:SCI), multiple sclerosis (NYSE:MS)] in adults who have an inadequate response to or are intolerant of an anticholinergic medication
•Prophylaxis of headaches in adult patients with chronic migraine (≥15 days per month with headache lasting 4 hours a day or longer)
•Treatment of upper limb spasticity in adult patients
•Treatment of cervical dystonia in adult patients, to reduce the severity of abnormal head position and neck pain
•Treatment of severe axillary hyperhidrosis that is inadequately managed by topical agents in adult patients
•Treatment of blepharospasm associated with dystonia in patients ≥12 years
of age
•Treatment of strabismus in patients ≥12 years of age
Celgene (NASDAQ:CELG) had a labeling revision for Thalomid, its thalidomide product indicated for multiple myeloma. Thalomid was first approved in 1998, and had fetal toxicity side effects as well as venous thromboembolism. A more potent and less toxic version, Revlimid, is the standard product today, and had sales of $5 billion last year. Patent on Revlimid starts expiring in 2019, and Celgene is aiming for acquisitions to boost its pipeline. It recently acquired Receptos or $7.2 billion. Here's a list of Celgene's partnerships:
Shire Plc (NASDAQ:SHPG) got a labeling revision for Pentasa, its mesalamine compound indicated for the induction of remission and for the treatment of patients with mildly to moderately active ulcerative colitis. The drug was first approved in 1993. Lialda is its next formulation. Pentasa still has no generic version, and sales around $290 million per year. TNF-a inhibitors like Abbot's (NYSE:ABT) Humira and Janssen's Remicade are the next generation products especially in Crohn's disease.
Trials
Nothing to report.
Deals
Aerie Pharmaceuticals Announces Research Collaboration- Aerie Pharmaceuticals (NASDAQ:AERI) has entered into a research collaboration and license agreement with GrayBug Inc. to deliver certain of AERI's preclinical product candidates to both the front and back of the eye using GrayBug's proprietary technology. GrayBug is a venture-stage pharmaceutical company engaged in the development of microparticle controlled release drug delivery technologies for the treatment of ocular diseases including wet age-related macular degeneration (NASDAQ:AMD) and glaucoma.
Dr. Reddy's and Amgen to Collaborate- Biotech major Amgen and India's Dr. Reddy's Laboratories (NYSE:RDY) have entered into a strategiccollaboration under which RDY will market and distribute three Amgen medicines in India in the areas of oncology and cardiology. The drugs includeRepatha, Amgen's PCSK9 inhibitor, Kyprolis and BLINCYTO. Dr. Reddy's will be responsible for full range of regulatory and commercial services to seek approval and launch the three drugs in India.
AstraZeneca Enters into Licensing Agreement with Heptares- British drug maker AstraZeneca (NYSE:AZN) and Heptares Therapeutics have enteredinto a licensing agreement under which AZN will acquire exclusive global rights to develop, manufacture and commercialize HTL-1071, a small molecule immuno-oncology candidate. HTL-1071 is an adenosine A2A receptor antagonist. Under the terms of the licensing agreement, AZN has also acquired exclusive global rights to potential additional A2A receptor-blocking compounds. AZN plans to explore the assets across a range of cancers, including in combination with its existing portfolio of immunotherapies.
Secondary Offerings
No secondary offerings to report.
IPOs
No IPOs to report.
Earnings
Egalet (NASDAQ:EGLT) reported first-quarter revenue of $0.96 million, up 95.9% on a year-over-year basis. This was in-line with consensus forecast. The company reported a loss of $1.03 per share for the quarter, missing consensus forecast by a penny.
Atara Biotherapeutics (NASDAQ:ATRA) reported a loss of $0.62 per share, 18 cents more than the consensus forecast. The company ended the quarter with $155 million in cash, cash equivalents and short-term available for sale investments.
Insys Therapeutics (NASDAQ:INSY) reported second-quarter revenue of $77.6 million, up 39.3% on a year-over-year basis. The company's revenue for the quarter beat consensus forecast by $3.54 million. INSY reported earnings of $0.21 per share for the quarter, a penny more than the consensus forecast.
Pernix Therapeutics (NASDAQ:PTX) reported second-quarter revenue of $46.98 million, up 170.3% on a year-over-year basis. The company's revenue beat consensus forecast by $0.92 million. PTX reported a loss of $0.10 per share for the quarter, 13 cents more than the consensus forecast.
Synta Pharmaceuticals (NASDAQ:SNTA) reported a loss of $0.15 per share, beating consensus forecast by 3 cents. SNTA ended the quarter with $98.3 million in cash, cash equivalents and marketable securities. The company believes that its current cash position will be sufficient to fund operations through at least the first half of 2016.
Curis (NASDAQ:CRIS) reported a loss of $0.06 per share for the second quarter, which was in-line with Street estimates. The company's revenue for the quarter was $2.08 million, down 56.7% on a year-over-year basis. This was $1.41 million below the consensus forecast.
GTx (NASDAQ:GTXI) reported a loss of $0.34 per share for the second quarter, well above the consensus forecast of loss of $0.04 per share. GTXI ended the quarter with $39.4 million in cash and short-term investments on its balance sheet.
Sarepta Therapeutics (NASDAQ:SRPT) reported a loss of $0.87 per share for the quarter, beating consensus forecast by 34 cents. The company ended the quarter with cash, cash equivalents, short-term investments and restricted investments related to a letter of credit of $157.7 million.
BIND Therapeutic (NASDAQ:BIND) reported revenue of $2.52 million, up 2.4% on a year-over-year basis. Revenue for the second quarter though fell short of consensus forecast of $3.88 million. BIND reported a loss of $0.51 per share for the second quarter, which was in-line with estimates.
Epizyme (NASDAQ:EPZM) reported a loss of $0.63 per share for the quarter, beating consensus forecast by 7 cents. The company's revenue for the quarter was $0.74 million, down 92.2% on a year-over-year basis. Second-quarter revenue fell short of consensus forecast by $1.71 million.
Alliqua Biomedical (OTCQB:ALQA) reported revenue of $3.1 million for the second quarter, beating consensus forecast by $0.26 million. The company reported a loss of $0.20 per share for the quarter, 10 cents less than the consensus forecast.
Bio-Techne (NASDAQ:TECH) reported fourth-quarter revenue of $117.7 million, up 27.2% on a year-over-year basis. The company's fourth-quarter revenue beat consensus forecast by $0.85 million. TECH's earnings for the quarter were $0.87 per share, a penny more than the consensus forecast.
Acceleron Pharma (NASDAQ:XLRN) reported second-quarter revenue of $5.72 million, up 40.2% on a year-over-year basis. The company's revenue for the quarter beat consensus forecast by $1.49 million. XLRN reported a loss of $0.32 per share for the quarter, 17 cents below the consensus forecast.
Emergent BioSolutions (NYSE:EBS) reported revenue of $126.1 million for the second quarter, up 14.3% on a year-over-year basis. EBS's revenue for the quarter beat consensus forecast by $11.85 million. The company's earnings for the quarter were $0.36 per share, beating consensus forecast by 18 cents.
Repligen (NASDAQ:RGEN) reported revenue of $21.46 million, up 38% on a year-over-year basis. The company's revenue for the quarter beat consensus forecast by $1.36 million. RGEN's earnings for the quarter were $0.11 per share, beating consensus forecast by 3 cents.
Seres (NASDAQ:MCRB) reported a loss of $1.45 per share for the second quarter.
Chimerix (NASDAQ:CMRX) reported a loss of $0.59 per share for the second quarter, missing consensus forecast by 2 cents. The company's revenue for the quarter was $4.14 million, up 350% on a year-over-year basis. The company's revenue beat consensus forecast by $2.77 million.
Agios Pharmaceuticals (NASDAQ:AGIO) reported a loss of $0.85 per share, missing consensus forecast by 39 cents. The company's second-quarter revenue of $13.2 million also missed consensus forecast.
Progenics Pharmaceuticals (NASDAQ:PGNX) reported second-quarter revenue of $1.94 million, up 31.1% on a year-over-year basis. The company's revenue for the quarter beat consensus forecast by $0.31 million. PGNX reported a loss of $0.17 per share, missing consensus forecast by 3 cents.
Insmed (NASDAQ:INSM) reported a loss of $0.47 per share for the quarter, beating consensus forecast by a penny. The company ended the quarter with $335 million in cash and cash equivalents on its balance sheet.
Idera Pharmaceuticals (NASDAQ:IDRA) reported a loss of $0.11 per share for the second quarter, in-line with Street estimates. The company ended the quarter with cash, cash equivalents and investments of $106.3 million.
GW Pharmaceuticals (NASDAQ:GWPH) reported third-quarter revenue of GBP 8.6 million, up 13.2% on a year-over-year basis. The company reported a loss of GBP 0.09 per share, down 200% on a year-over-year basis.
Genocea Biosciences (NASDAQ:GNCA) reported revenue of $0.12 million for the second quarter, $0.07 million above the consensus forecast. The company reported a loss of $0.43 per share for the quarter, 8 cents less than the consensus forecast.
Fibrocell Science (NASDAQ:FCSC) reported a loss of $0.17 per share for the second quarter, missing consensus forecast by a penny. The company's revenue for the quarter was $0.14 million, up 133.3% on a year-over-year basis. Revenue for the quarter beat consensus forecast by $0.05 million.
Novo Nordisk (NYSE:NVO) reported second-quarter revenue of DKK27.06 billion, up 25.1% on a year-over-year basis. The company's earnings for the quarter were DKK3.23 per share.
NeuroDerm (NASDAQ:NDRM) reported a loss of $0.34 per share for the quarter, missing Street estimates by 14 cents. The company ended the quarter with cash and cash equivalents and short-term bank deposits totaling $36.7 million. This does not include proceeds of $72.3 million from a secondary offering the company completed last month.
Alnylam Pharmaceuticals (NASDAQ:ALNY) reported a loss of $0.85 per share for the quarter, missing consensus forecast by 10 cents. The company's revenue for the quarter was $8.69 million, up 19% on a year-over-year basis. Second-quarter revenue missed consensus forecast by $3.95 million.
ImmunoCellular Therapeutics (NYSEMKT:IMUC) reported a loss of $0.03 per share for the second quarter, beating consensus forecast by 2 cents. The company ended the quarter with $30.9 million in cash on its balance sheet.
Oncothyreon (NASDAQ:ONTY) reported a loss of $0.11 per share, missing consensus forecast by 3 cents. The company ended the quarter with $70 million in cash, cash equivalents and investments on its balance sheet.
CTI BioPharma (NASDAQ:CTIC) reported revenue of $1.1 million, down 17.9% on a year-over-year basis. The company's revenue missed consensus forecast by $11.67 million. CTIC reported a loss of $0.19 per share for the quarter, beating consensus forecast by 9 cents.
Invitae (NYSE:NVTA) reported revenue of $1.8 million for the second quarter, beating consensus forecast by $0.13 million. The company reported a loss of $0.76 for the quarter, missing consensus forecast by 21 cents.
Ohr Pharmaceutical (NASDAQ:OHRP) reported a net loss of $3.3 million for the third quarter. The company ended the quarter with $31 million in cash and cash equivalents of $31 million.
Spectrum Pharmaceuticals (NASDAQ:SPPI) reported a loss of $0.01 per share, beating consensus forecast by 21 cents. The company reported revenue of $44.98 million for the second quarter, down 4% on a year-over-year basis but $10.15 million above the consensus forecast.
Athersys (NASDAQ:ATHX) reported a loss of $0.05 per share for the second quarter, 3 cents more than the consensus forecast. The company's revenue for the quarter was $0.22 million, down 43.6% on a year-over-year basis and $2.44 million below the consensus forecast.
XOMA (NASDAQ:XOMA) reported a loss of $0.20 per share for the quarter, missing consensus forecast by 2 cents. The company's revenue for the quarter was $2.54 million, down 57.5% on a year-over-year basis and $1.84 million below the consensus forecast.
TherapeuticsMD (NYSEMKT:TXMD) reported a loss of $0.16 per share, missing consensus forecast by 5 cents. The company's revenue for the quarter was $4.85 million, up 29.3% on a year-over-year basis. TXMD's revenue for the quarter beat consensus forecast by $0.2 million.
ChemoCentryx (NASDAQ:CCXI) reported a loss of $0.28 per share for the quarter, beating consensus forecast by a penny. The company ended the quarter with cash, cash equivalents and investments of $94.2 million on its balance sheet.
ACADIA Pharma (NASDAQ:ACAD) reported a loss of $0.39 per share for the quarter, missing consensus forecast by 6 cents. The company's revenue was just $1,000, missing consensus forecast by $59,000.
Clovis Oncology (NASDAQ:CLVS) reported second-quarter loss of $2.10 per share. The company had cash, cash-equivalents and available-for-sale securities of $377.6 million at the end of the quarter.
Cytori Therapeutics (NASDAQ:CYTX) reported revenue of $1.61 million for the second quarter, up 71.3% on a year-over-year basis. Second-quarter revenue fell short of consensus forecast by $0.89 million. The company reported earnings of $0.03 per share, beating consensus forecast by 6 cents.
Galena Biopharma (NASDAQ:GALE) reported a loss of $0.10 per share for the second quarter, missing consensus forecast by a penny. The company's revenue for the second quarter was $3.38 million, up 45.1% on a year-over-year basis but $0.16 below the consensus forecast.
Tesaro (NASDAQ:TSRO) reported a loss of $1.51 per share for the second quarter, missing consensus forecast by 37 cents. The company ended the quarter with $354.4 million in cash and cash equivalents on its balance sheet.
Esperion Therapeutics (NASDAQ:ESPR) reported second-quarter loss of $0.55 per share, beating consensus forecast by 3 cents. The company ended the quarter with cash, cash equivalents and investment securities available-for-sale of $314.3 million on its balance sheet.
Medivation reported second-quarter earnings of $0.58 per share, beating consensus forecast by 13 cents. The company's second-quarter revenue of $175.7 million also beat consensus forecast.
Amarin (NASDAQ:AMRN) reported a loss of $0.15 per share for the quarter, missing consensus forecast by 3 cents. The company's revenue of $17.71 million also missed consensus forecast.
Ocata Therapeutics (OTCQB:OCAT) reported second-quarter loss of $0.20 per share, missing consensus forecast by a penny. The company ended the quarter with $31.9 million in cash and cash equivalents on its balance sheet.
Amyris (NASDAQ:AMRS) reported a loss of $0.47 per share for the second quarter, missing consensus forecast by 16 cents. The company reported revenue of $7.84 million, down 15.8% on a year-over-year basis and also below the consensus forecast.
IRIDEX (NASDAQ:IRIX) reported a loss of $0.07 per share for the second quarter. The company's second-quarter revenue of $9 million fell 15.1% on a year-over-year basis.
Dicerna Pharmaceuticals (NASDAQ:DRNA) reported a loss of $0.72 per share, beating consensus forecast by 6 cents. The company reported revenue of $0.18 million.
Flexion Therapeutics (NASDAQ:FLXN) reported a loss of $0.58 per share, missing consensus forecast by 4 cents. The company ended the quarter with $127.4 million in cash, cash equivalents and marketable securities on its balance sheet.
Anacor Pharmaceuticals (NASDAQ:ANAC) reported a loss of $0.30 per share for the second quarter, beating consensus forecast by 2 cents. The company's revenue of $21.34 million also beat consensus forecast and rose 628.3% on a year-over-year basis.
Alexza Pharma (NASDAQ:ALXA) reported a loss of $0.63 per share for the second quarter, missing consensus forecast by 3 cents. The company's revenue for the quarter was $1.88 million, up 27% on a year-over-year basis. ALXA's second-quarter revenue beat consensus forecast by $0.39 million.
Raptor Pharmaceutical (NASDAQ:RPTP) reported a loss of $0.12 per share for the second quarter, beating consensus forecast by 9 cents. The company's revenue for the quarter was $23.33 million, up 43% on a year-over-year basis and $1.93 million above the consensus forecast.
TearLab (NASDAQ:TEAR) reported a loss of $0.24 per share for the second quarter, beating consensus forecast by a penny. The company reported revenue of $6.35 million for the quarter, up 27% on a year-over-year basis and above the consensus forecast.
Aratana Therapeutics (NASDAQ:PETX) reported second-quarter revenue of $0.23 million, missing consensus forecast by $0.03 million. The company reported a loss of $0.23 per share for the quarter, beating consensus forecast by 15 cents.
Cerulean (NASDAQ:CERU) reported a loss of $0.37 per share for the second quarter, 6 cents below the consensus forecast. The company ended the quarter with $85.5 million in cash and cash equivalents on its balance sheet.
StemCells (NASDAQ:STEM) reported a loss of $0.08 per share for the second quarter, beating consensus forecast by a penny. The company reported revenue of $0.03 million for the quarter, in-line with estimates.
TransEnterix (OTCQB:TRXC) reported a loss of $0.14 per share, beating consensus forecast by a penny. The company ended the quarter with $71.1 million in cash and cash equivalents on its balance sheet.
Revance Therapeutics (NASDAQ:RVNC) reported a loss of $0.71 per share for the second quarter, beating consensus forecast by 13 cents. The company's revenue for the quarter was $0.08 million, $0.05 million below the consensus forecast.
Provectus Biopharmaceuticals (OTC:PVCT) reported a loss of $0.02 per share for the second quarter. The company ended the quarter with $23.12 million incash and cash equivalents on its balance sheet.
Five Prime Therapeutics (NASDAQ:FPRX) reported second-quarter revenue of $6.3 million, missing consensus forecast by $0.62 million. The company reported a loss of $0.45 per share for the quarter, 1 cent more than the consensus forecast.
BioLife Solutions (OTC:BLFS) reported second-quarter revenue of $1.5 million, up 24% on a year-over-year basis. The company's revenue for the quarter missed consensus forecast by $0.1 million. BLFS reported second-quarter loss of $0.08 per share, 2 cents below the consensus forecast.
Aquinox Pharma (NASDAQ:AQXP) reported a loss of $0.44 per share for the second quarter, beating consensus forecast by 12 cents. The company ended the quarter with $29 million in cash, cash equivalents and investments on its balance sheet.
Relypsa (NASDAQ:RLYP) reported a loss of $0.95 per share for Q2, beating consensus forecast by 5 cents. The company ended the quarter with $299 million in cash, cash equivalents and short-term investments on its balance sheet.
Enanta Pharma (NASDAQ:ENTA) posted third-quarter earnings of $0.13 per share, missing consensus forecast by 6 cents. The company's revenue for the quarter was $11.6 million, $4.58 below the consensus forecast.
AxoGen (NASDAQ:AXGN) reported a loss of $0.13 per share for the quarter, beating consensus forecast by $0.01 per share. The company's revenue of $6.42 million for the second quarter also beat consensus forecast.
Inotek Pharmaceuticals (NASDAQ:ITEK) posted a loss of $0.15 per share for the second quarter, beating consensus forecast by 10 cents. The company ended the quarter with cash and cash equivalents of $49 million.
Taro Pharmaceutical (NYSE:TARO) reported first-quarter earnings of $2.42 per share. The company's revenue of $215.3 million rose 65.4% on a year-over-year basis.
GlycoMimetics (NASDAQ:GLYC) reported earnings of $0.51 per share for the second quarter. The company's second-quarter revenue of $20 million rose 33.3% on a year-over-year basis.
bluebird bio (NASDAQ:BLUE) reported a loss of $1.57 per share for the second quarter, missing consensus forecast by 78 cents. The company reported revenue of $4.9 million, down 22.2% on a year-over-year basis and $3.7 million below the consensus forecast.
ZS Pharma (NASDAQ:ZSPH) reported a loss of $1.30 per share for Q2, missing consensus forecast by 45 cents. The company ended the quarter with $232.9 million in cash and cash equivalents on its balance sheet.
Kythera (NASDAQ:KYTH) reported a loss of $1.44 per share for the second quarter, missing consensus forecast by 29 cents. The company ended the quarter with cash and cash equivalents of $184.9 million on its balance sheet.
Mirati Therapeutics (NASDAQ:MRTX) reported a loss of $0.95 per share for the second quarter, missing consensus forecast by 21 cents. The company ended the quarter with $58.9 million in cash, cash equivalents and short-term investments on its balance sheet.
Caladrius Biosciences (NASDAQ:CLBS) reported second-quarter revenue of $5 million, down 5.7% on a year-over-year basis but above the consensus forecast. The company reported net loss of $26.1 million for the quarter.
Insider Transactions
Regeneron Insider Sells- Robert E. Landry, SVP Finance & CFO at Regeneron Pharmaceuticals (NASDAQ:REGN) sold 4,000 shares at $592.84. The total value of the transaction was $2.37 million.
CTI BioPharma Insider Sells- Matthew Plunkett, EVP, Corporate Development at CTI BioPharma sold 10,000 shares at $1.84. The total value of the transaction was $18,426.
Big Movers
NASDAQ- Aimmune Therapeutics shares soared on their trading debut. The stock closed 50.63% higher. Zynerba Pharmaceuticals (NASDAQ:ZYNE) closed 18.89% higher. Sangamo Biosciences (NASDAQ:SGMO) was one of the worst performers, closing 17.86% lower. Amicus Therapeutics (NASDAQ:FOLD) also tumbled, closing 16.88% lower.
NYSE- Opko Health (NYSE:OPK) shares closed 13.59% lower.
NYSEMKT- TherapeuticsMD was one of the major biotech movers on the NYSEMKT. The stock closed 2.54% lower at $7.28.
OTC- Cellceutix dropped 29.92% on substantial volume. Anavex Life Sciences once again saw significant trading activity. The stock closed 3.33% lower at $1.45 on above average volume of 11.30 million.
Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.
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