On Friday, Shares of Applied Materials, Inc. (NASDAQ:AMAT), gained 0.77% to $16.98, hitting its lowest level.
Applied Materials will hold a webcast to talk about its third quarter of fiscal 2015 financial results, together with its business outlook, on Thursday, August 13, 2015, at 4:30 p.m. ET (1:30 p.m. PT).
Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, flat panel display, solar photovoltaic (PV), and related industries worldwide. The company’s Silicon Systems Group segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
Shares of Opko Health, Inc. (NYSE:OPK), declined -1.01% to $13.76, during its last trading session.
OPKO Health, stated operating and financial results for its second quarter ended June 30, 2015.
Financial Highlights
- Cash, cash equivalents and marketable securities were $221.2 million as of June 30, 2015.
- Reflects receipt of Pfizer upfront payments of $295.0 million, partially offset by a $94.7 million cash payment for the acquisition of EirGen (net of cash on hand of EirGen) and a one-time $25.9 million payment to the Office of the Chief Scientist in Israel related to the Pfizer transaction.
- Merged revenues raised to $42.4 and $72.5 million during the three and six months ended June 30, 2015 from $23.5 and $45.8 million in the comparable periods of 2014. Revenue for the three and six months ended June 30, 2015 comprised of $17.7 and $30.2 million of revenue resulting from OPKO’s partnership agreement with Pfizer. OPKO is recording revenue in connection with the Pfizer transaction on a straight-line basis over the predictable development period.
- Net loss for the three and six months ended June 30, 2015 was $42.8 million and $159.9 million and comprised of raised operating expenses counting raised research and development expense of $13.3 million and $17.8 million, respectively, in comparison to the 2014 periods. Further, the three and six month periods comprised of noteworthy non-recurring and or non-cash charges, such as:
- $25.9 million of non-recurring operating expense related to the repayment of a grant to the Office of the Chief Scientist in Israel related to the Pfizer transaction; and
- $16.6 million and $66.3 million in non-cash charges related to the change in value of embedded derivatives during the three and six months of 2015, which are part of our January 2013 convertible senior notes due in 2033 (the “2033 Senior Notes”). This non-cash charge is principally a result of the raised market price of our common stock since December 31, 2014.
OPKO Health, Inc., a biopharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies in the United States and internationally. It operates through two segments, Pharmaceuticals and Diagnostics.
Finally, Orexigen Therapeutics, Inc. (NASDAQ:OREX), ended its last trade with -10.79% loss, and closed at $3.72.
Orexigen Therapeutics declared that wholly-owned partner Orexigen Therapeutics Ireland Ltd. and Kwang Dong Pharmaceutical Company, Ltd. have executed a distributorship agreement for South Korea for Contrave® (naltrexone HCl / bupropion HCl extended release) monotherapy for weight administration in overweight or obese adult patients. Under the terms of the agreement, Kwang Dong will be responsible for seeking regulatory approval and for all commercialization activity and expenses. Orexigen will supply Contrave tablets to Kwang Dong for a $7 million upfront payment, about 35 – 40% of net sales, potential sales-based milestone payments, and other fees. Kwang Dong anticipates to start marketing Contrave in the second half of 2016, if regulatory approval is obtained.
Obesity and related comorbidities are a serious health problem in South Korea, where about 38% of men and 26% of women are obese according to recent statistics from the National Health Institute. In 2014, sales of anti-obesity prescription medicines exceeded $67 million in Korea.
Orexigen Therapeutics, Inc., a biopharmaceutical company, focuses on the development of pharmaceutical products in the United States.
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