During Monday’s Current trade, Shares of Sarepta Therapeutics Inc (NASDAQ:SRPT), lost -0.95% to $33.54.
Sarepta Therapeutics, Inc.(SRPT), a developer of innovative RNA-targeted therapeutics, recently stated financial results for the three and six months ended June 30, 2015, and offered an update of recent corporate developments.
Financial Results
For the second quarter of 2015, Sarepta stated a non-GAAP net loss of $35.9 million, or $0.87 per share, contrast to a non-GAAP net loss of $24.5 million for the second quarter of 2014, or $0.61 per share. The incremental loss of $11.4 million was primarily the result of raised operating expenses in addition to a decrease in revenue from the Company’s government contracts.
On a GAAP basis, the net loss for the second quarter of 2015 was $41.9 million, or $1.01 per share (counting $5.9 million of stock-based compensation), contrast to a net loss of $33.9 million, or $0.85 per share (counting $5.6 million of stock-based compensation and restructuring expenses) for the second quarter of 2014. The enhance in net loss was primarily due to a decrease of $2.6 million from government contract revenue and enhances of $8.5 million from research and development expenses and $0.7 million from general and administrative expenses. The enhance in operating expenses was primarily due to the timing of manufacturing activities, counting the purchase of raw materials, raised clinical activity in connection with our DMD programs, research and development personnel growth and raised stock compensation expense. These enhances were offset by a decrease of $3.8 million from a loss on change in warrant valuation as all warrants were exercised or expired during 2014.
Sarepta Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery and development of RNA-based therapeutics for the treatment of rare, infectious, and other diseases. Its lead product candidate is Eteplirsen, an antisense phosphorodiamidate morpholino oligomer therapeutic, which is in Phase III clinical development stage for the treatment of individuals with Duchenne muscular dystrophy (DMD), a rare genetic muscle-wasting disease caused by the absence of dystrophin.
Shares of PG&E Corporation (NYSE:PCG), declined -3.37% to $51.29, during its current trading session.
Pacific Gas and Electric Company (PG&E) declared its $1 million commitment to support the installation of rooftop solar on 79 hoes with 18 different Habitat for Humanity local associates throughout Northern and Central California. From the Mendocino Coast to Merced, PG&E’s Solar Habitat Program, in partnership with Habitat for Humanity, is making affordable housing and solar energy a reality for deserving families, particularly in neighborhoods that have been historically underserved and overlooked.
For 10 years, PG&E’s Solar Habitat Program has offered more than $9.6 million to assist respond to the housing needs of families in Northern and Central California. As the exclusive solar partner of Habitat for Humanity in the Bay Area, PG&E’s Solar Habitat Program has funded the installation of solar on more than 600 new-construction Habitat for Humanity homes throughout the utility’s Northern and Central California service area.
PG&E Corporation, through its partner, Pacific Gas and Electric Company, transmits, delivers, and sells electricity and natural gas to residential, commercial, industrial, and agricultural customers primarily in northern and central California. The company’s electricity distribution network comprises of 141,700 circuit miles of electric distribution lines, 55 transmission switching substations, and 603 distribution substations; and electricity transmission network comprises 18,100 circuit miles of interconnected transmission lines and 91 electric transmission substations. Its natural gas system comprises of about 42,700 miles of distribution pipelines, about 6,400 miles of backbone and local transmission pipelines, and various storage facilities.
Energy Transfer Equity LP (NYSE:ETE), during its Monday’s current trading session decreased -1.93% to $26.97.
Energy Transfer Equity, L.P. (ETE) declared a $0.04 enhance in its quarterly cash distribution to $0.53 per ETE common unit on a pre-split basis ($0.02 per ETE common unit to $0.265 on a post-split basis) for the second quarter ended June 30, 2015. Annualized, the enhance equates to $2.12 per ETE common unit on a pre-split basis and $1.06 per ETE Common unit on a post-split basis.
ETE formerly declared a two-for-one split (“Unit Split”) of the Partnership’s common units that is planned to be accomplished tomorrow. As a result of the Unit Split, the number of outstanding ETE common units will double. Therefore, the enhance in the quarterly distribution will be $0.02 to $0.265 per ETE common unit on a post-split basis. Since the record date for distributions is after the completion of the Unit Split, ETE unitholders will be paid the quarterly distribution on a post-split basis.
Energy Transfer Equity, L.P., through its auxiliaries, provides diversified energy-related services in the Unites States. It owns and operates about 7,700 miles of natural gas transportation pipelines and 3 natural gas storage facilities located in the state of Texas; and about 12,800 miles of interstate natural gas pipeline. The company sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
Finally, Alcatel Lucent SA (ADR) (NYSE:ALU), decreased -3.82%, to $3.14.
Alcatel-Lucent (ALU) is to deploy its Rapport™ communications software with the world’s largest telecommunications service provider, China Mobile, enabling it to simplify and consolidate video, voice and messaging services onto a single platform.
As a result of the deployment, China Mobile will be able to offer high-quality, high-definition VoLTE (voice over LTE) services for the first time in China, paving the way for future cloud-based services.
China Mobile will be able to leverage Rapport’s native APIs and WebRTC (Web Real Time Communications) capabilities to create new contextual applications and services, enabling subscribers to personalize how they connect with others using video, voice and messaging on any connected device. The deployment will also set the stage for China Mobile to offer new services through the use of voice over Wi-Fi®.
Alcatel-Lucent provides Internet protocol (IP) and cloud networking, and ultra- broadband access worldwide. The company’s Core Networking segment offers IP routing, carrier Ethernet, network functions virtualization, and software defined networking applications and infrastructure to meet the challenges of network traffic growth while supporting the delivery of cloud-enabled business, mobile, and residential services for service providers, mobile network operators, cable/multiple system operators, transportation, utilities, and large-scale enterprises.
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