On Friday, Shares of Pfizer Inc. (NYSE:PFE), gained 1.07% to $32.97.
Merck KGaA, Darmstadt, Germany and Pfizer declared that six abstracts on studies evaluating the potential role of programmed death-ligand 1 (PD-L1) inhibition and the safety and efficacy of the investigational cancer immunotherapy avelumab* will be presented at this year’s ECC in Vienna, Austria, September 25–29, 2015.
New data will be presented in urothelial (e.g. bladder), mesothelioma and gastric/gastroesophageal cancers. Additional NSCLC and ovarian cancer data from Phase Ib trials build on those formerly presented at the 2015 Annual Meeting of the American Society of Clinical Oncology (ASCO).1–10 As the promise of immuno-oncology continues to grow, these new data assist to further the understanding of the potential role of avelumab for patients suffering from cancers with high unmet need.
Despite continued progress in bringing new treatments to patients, there remains a noteworthy unmet need across many types of cancer. For example, the incidence of gastric cancer remains a major public issue in Western and Asian countries, and there is a continued need to better understand the disease biology to provide patients with the most appropriate and effective treatment. For some cancer types, such as mesothelioma, the incidence rates are rising worldwide, with limited treatment options presently available for patients.
“Our clinical program for avelumab continues to accelerate, and we remain on-target to initiate up to six pivotal trials this year,” said Dr Luciano Rossetti, Global Head of Research & Development of the biopharmaceutical business of Merck KGaA, Darmstadt, Germany. “As we investigate avelumab across a broad range of tumor types, Merck KGaA, Darmstadt, Germany and Pfizer are working together diligently to analyze and present data at important congresses like ECC, to share the latest knowledge and understanding of this immune-checkpoint inhibitor with the medical community.”
Presently, more than 1,000 cancer patients have been treated with avelumab in the Phase I/Ib clinical program (JAVELIN Solid Tumor), and more than 15 tumor types are under investigation.
Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. The company operates through Global Innovative Pharmaceutical (GIP); Global Vaccines, Oncology and Consumer Healthcare (VOC); and Global Established Pharmaceutical (GEP) segments.
Shares of Finisar Corp. (NASDAQ:FNSR), declined -18.44% to $12.16, during its last trading session, hitting its lowest level.
Finisar Corporation declared financial results for its first quarter of fiscal 2016, ended August 2, 2015.
COMMENTARY
“Revenues for our first fiscal quarter were $314.0 million contrast to $320.0 million in the prior quarter; however, the prior quarter had the benefit of an additional week. Taking that into consideration, the first fiscal quarter had a higher average weekly revenue relative to the prior quarter,” said Jerry Rawls, Finisar’s executive Chairman of the Board. “Strength in revenue was primarily driven by 40 gigabit transceivers for datacom applications”.
Financial Statement Highlights for the First Quarter of Fiscal 2016:
- Revenues reduced to $314.0 million, a decrease of $6.0 million, or (1.9)%, from $320.0 million in the preceding quarter, as the result of the impact of one fewer week than the prior quarter.
- Sales of products for datacom applications reduced by $8.7 million, or (3.6)%, contrast to the preceding quarter, primarily as the result of the impact of one fewer week than the prior quarter.
- Sales of products for telecom applications raised by $2.7 million, or 3.4%, contrast to the preceding quarter.
- GAAP gross margin was 27.8% contrast to 27.9% in the preceding quarter.
- Non-GAAP gross margin was 30.2% contrast to 30.3% in the prior quarter.
- GAAP operating expenses were $80.3 million contrast to $78.9 million in the prior quarter.
- Non-GAAP operating expenses were $68.4 million contrast to $68.2 million in the prior quarter.
- GAAP operating income reduced by $3.2 million, to $7.1 million or 2.2% of revenues, contrast to $10.3 million or 3.2% of revenues in the preceding quarter, primarily due to the lower revenue level.
- Non-GAAP operating income reduced by $2.3 million to $26.5 million, or 8.4% of revenues, contrast to $28.8 million, or 9.0% of revenues, in the preceding quarter.
- Cash, cash equivalents and short term investments raised $5.5 million to $495.7 million at the end of the first quarter, contrast to $490.2 million at the end of the preceding quarter.
Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, Malaysia, China, and internationally. Its optical subsystems primarily comprise of transmitters, receivers, transceivers, transponders, and active optical cables that provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in communication networks, counting the switches, routers, and servers used in wireline networks, in addition to the antennas and base stations used in wireless networks.
Finally, Baker Hughes Incorporated (NYSE:BHI), ended its last trade with -1.12% loss, and closed at $53.08.
Baker Hughes Incorporated declared that the international rig count for August 2015 was 1,137, up 19 from the 1,118 counted in July 2015, and down 202 from the 1,339 counted in August 2014. The international offshore rig count for August 2015 was 270, up 6 from the 264 counted in July 2015, and down 45 from the 315 counted in August 2014.
The average U.S. rig count for August 2015 was 883, up 17 from the 866 counted in July 2015, and down 1,021 from the 1,904 counted in August 2014. The average Canadian rig count for August 2015 was 206, up 23 from the 183 counted in July 2015, and down 193 from the 399 counted in August 2014.
The worldwide rig count for August 2015 was 2,226, up 59 from the 2,167 counted in July 2015, and down 1,416 from the 3,642 counted in August 2014.
Baker Hughes Incorporated supplies oilfield services, products, technology, and systems to the oil and natural gas industry worldwide. The company offers drilling and evaluation products and services, which comprise drill bits for performance drilling, hole enlargement, and coring; conventional and rotary steerable systems used to drill wells; measurement-while-drilling and logging-while-drilling systems to perform reservoir navigation services; drilling optimization services; tools for coil tubing drilling and wellbore re-entry systems; coring drilling systems; surface logging; emulsion and water-based drilling fluids systems; reservoir drill-in fluids; and fluids environmental services.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
