On Tuesday, Following Stocks were among the “Top 50 Gainers” of U.S. Stock Market: Arotech Corporation (NASDAQ:ARTX), Catalyst Pharmaceutical Partners Inc. (NASDAQ:CPRX), CorMedix, Inc. (NYSEMKT:CRMD), Tekmira Pharmaceuticals Corp (NASDAQ:TKMR)
Arotech Corporation (NASDAQ:ARTX), with shares inclined 9.03%, closed at $3.14.
Catalyst Pharmaceutical Partners Inc. (NASDAQ:CPRX), with shares jumped 9.01%, settled at $4.84, hitting new 52-week high of $4.90.
CorMedix, Inc. (NYSEMKT:CRMD), with shares climbed 8.65%, and closed at $8.79.
Tekmira Pharmaceuticals Corp (NASDAQ:TKMR), surged 8.46%, and closed at $20.
Latest NEWS regarding these Stocks are depicted underneath:
Arotech Corporation (NASDAQ:ARTX)
On Monday, Arotech Corporation (ARTX), declared financial results for its fourth quarter and full-year ended December 31, 2014.
Proceeds for the fourth quarter were $28.5 million, contrast to $20.9 million for the comparable period in 2013, an raise of 36%. The year-over-year raise was driven, in large part, by the attainment of UEC in the first half of 2014 and the resulting inclusion of the operations of UEC in Arotech’s 2014 results, while Proceeds for the full-year 2014 of $103.5 million, contrast to $88.5 million for full-year 2013, an raise of 17%. The year-over-year raise was driven, in large part, by the attainment of UEC in the first half of 2014 and the resulting inclusion of the operations of UEC in Arotech’s 2014 results.
Gross profit for the quarter was $7.4 million, or 25.9% of proceeds, contrast to $6.1 million, or 29.3% of proceeds, for the preceding year period. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) for the quarter was $1.0 million, contrast to $0.4 million for the corresponding period in 2013. Arotech believes that information concerning Adjusted EBITDA enhances overall understanding of its current financial performance, while Gross profit for the year was $32.7 million, or 31.6% of proceeds, contrast to $24.1 million, or 27.2% of proceeds, for last year, a 4.4 point improvement in the gross margin percentage. The improvement in gross margin is the result of changes in the structure of certain contracts and the mix of products between 2013 and 2014.
The Corporation stated an operating loss for the fourth quarter of 2014 of $1.3 million, contrast to an operating loss of $0.3 million for the corresponding period in 2013. Operating expenses in the quarter grew by $8.7 million contrast to the corresponding quarter in 2013. A large portion of the raise was due to the inclusion of the operating expenses of UEC in the results for the fourth quarter of 2014, in addition to raised incentive compensation costs resulting from the Corporation’s outstanding 2014 results, while The Corporation stated operating revenue of $3.5 million for fiscal 2014, which is in line with operating revenue generated in fiscal 2013. Operating expenses for the year grew to $29.2 million as compared to $20.6 million the preceding year. A large portion of the raise was due to the costs of the attainment of UEC in the first half of 2014 and the inclusion of the operating expenses of UEC in the results for the last three quarters of 2014, in addition to an raise in R&D investment related to development of the Corporation’s iron flow battery technology, and raised incentive compensation costs resulting from the Corporation’s outstanding 2014 results.
Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, counting multimedia interactive simulators/trainers and advanced battery solutions, innovative energy administration and power distribution technologies, and zinc-air and lithium batteries and chargers. Arotech operates two major business divisions: Training and Simulation, and Power Systems.
Catalyst Pharmaceutical Partners Inc. (NASDAQ:CPRX)
On Monday, Catalyst Pharmaceutical Partners Inc. (CPRX), stated financial results for the fourth quarter and year-ended December 31, 2014.
“2014 was a year of great progress for Catalyst, clearly highlighted by the positive results from our pivotal Phase 3 Firdapse(TM) trial in LEMS,” said Patrick J. McEnany, Chief Executive Officer of Catalyst. “As we look towards the NDA submission for Firdapse(TM) this year, we continue to build our commercial infrastructure, together with looking for Firdapse(TM) expansion opportunities to assist patients beyond the LEMS indication. We continue to advance the development of our pipeline with results from the CPP-115 Phase 1 trial and the Tourette disorder open label study predictable in the second quarter of 2015.”
Fourth Quarter and Full-Year 2014 Financial Results:
For the year ended December 31, 2014, Catalyst stated a GAAP net loss of $15,509,061, or $0.24 per basic and diluted share, contrast to a GAAP net loss of $12,154,596, or $0.27 per basic and diluted share, for the 2013 fiscal year. Not including non-cash expense of $993,866 attributable to the change in fair value of liability-classified warrants, Non-GAAP net loss was $14,515,195, or $0.23 per basic and diluted share for the year ended December 31, 2014. In comparison, Non-GAAP net loss for the year ended December 31, 2013 was $10,264,237, or $0.23 per basic and diluted share, which excludes non-cash expense of $1,890,359 attributable to the change in fair value of liability-classified warrants.
For the quarter ended December 31, 2014, Catalyst stated a GAAP net loss of $3,490,030, or $0.05 per basic and diluted share, contrast to a GAAP net loss of $1,354,658, or $0.03 per basic and diluted share, for the 2013 fiscal year. Not including non-cash revenue of $472,026 attributable to the change in fair value of liability-classified warrants, Non-GAAP net loss was $3,962,056 or $0.06 per basic and diluted share for the fourth quarter of 2014. In comparison, Non-GAAP net loss for the fourth quarter of 2013 was $2,684,813, or $0.05 per basic and diluted share, which excludes non-cash revenue of $1,330,155 attributable to the change in fair value of liability-classified warrants.
General and administrative expenses for the year ended December 31, 2014 totaled $4,473,654, contrast to $2,214,884 in the 2013 fiscal year. For the fourth quarter of 2014, general and administrative expenses totaled $1,599,620, contrast to $638,840 in the same period in 2013. The raise in general and administrative expenses from preceding year comprises mainly of raises in headcount, consulting and marketing expenses, as a result of our pre-commercialization efforts during 2014.
Catalyst had no proceeds in the year 2014 or 2013.
At December 31, 2014, Catalyst had cash and cash equivalents, certificates of deposit and short-term investments of $39.3 million and no debt. Catalyst believes that its existing capital resources will be sufficient to support its planned operations through 2016.
Catalyst Pharmaceuticals is a biopharmaceutical corporation focused on developing and commercializing innovative therapies for people with rare debilitating diseases, counting Lambert-Eaton Myasthenic Syndrome (LEMS), congenital myasthenic syndrome (CMS), infantile spasms, and Tourette Syndrome.
CorMedix, Inc. (NYSEMKT:CRMD)
Last Monday, CorMedix, Inc. (CRMD), declared that the extension to April 30, 2015 of the expiration date applies to all publicly traded warrants.
The holders of CorMedix warrants should note that the Corporation issued two tranches of warrants in 2010 with the same CUSIP number (No.21900C118). The first tranche of warrants were purchased for cash in connection with the Corporation’s initial public offering of ordinary stock in 2010, and may be exercised at the specified exercise price in exchange for registered, freely tradable shares of ordinary stock issued following a presently effective registration statement.
The second tranche of warrants was also issued in 2010 to a select group of investors in exchange for debt issued preceding to the Corporation’s initial public offering. The holders of these warrants may exercise and receive in exchange shares of unregistered ordinary stock. The Corporation intends to file a registration statement for the resale of the shares issuable upon exercise of the second tranche of warrants as soon as practicable following the filing later this week of the Corporation’s Annual Report Form 10-K.
CorMedix Inc., a pharmaceutical corporation, intends to in-license, develop, and commercialize therapeutic products for the prevention and treatment of cardiac, renal, and infectious diseases.
Tekmira Pharmaceuticals Corp (NASDAQ:TKMR)
Last Thursday, Tekmira Pharmaceuticals Corp (TKMR), declared its 2014 audited financial results and offered a corporate update.
On March 4, 2015, Tekmira accomplished a merger with OnCore Biopharma, Inc., whereby OnCore became a wholly owned partner of Tekmira. Tekmira recently is focused on developing a cure for HBV by combining multiple therapeutic approaches. This merger brings together the companies’ broad expertise in antiviral drug development to build and advance a robust portfolio of compounds aimed at eradicating HBV.
Non HBV Assets:
In 2014, noteworthy progress was made in advancing Tekmira’s non-HBV assets, based on its proprietary Lipid Nanoparticle (LNP) delivery platform. These comprise:
- TKM-PLK1 — accomplished enrolment in Phase IIa development programs in gastrointestinal neuroendocrine tumors (GI-NET) and adrenocortical carcinoma (ACC). Data will be presented mid-2015;
- TKM-PLK1 — accomplished enrolment of first two dose cohorts in Phase I/II development program in hepatocellular carcinoma (HCC). While numbers are small, early observations indicate some noteworthy anti-tumor effects in tumor size. Dose escalation is predictable to be accomplished by mid-year;
- TKM-Ebola — development program is fully funded by the U.S. Department of Defense (DoD). A compelling feature of this program is a potential FDA product approval, which could qualify for a priority review voucher;
- TKM-Ebola-Guinea — Phase II study initiated in West Africa. The study is conducted by the International Severe Acute Respiratory and Emerging Infection Consortium (ISARIC) and funded by the Wellcome Trust;
- TKM-HTG (rare forms of hypertriglyceridemia / non-alcoholic steatohepatitis (NASH) — strong preclinical data on our HTG candidate, which is comprised of two RNAi triggers, demonstrates a dual mechanism of action and super-additive effects on serum triglyceridemia;
- TKM-GSD (glycogen storage disorder Type IV) — preclinical modeling of this rare disorder is ongoing;
- TKM-ALDH (alcohol use disorder) — novel mechanism of action has been identified in primates. A unique dual trigger product is being evaluated in a primate alcohol avoidance model. Preclinical proof of concept data is predictable 2H 2015; and
- TKM-mRNA — development of technology and intellectual property enabling the delivery of messenger RNA constructs is ongoing.
- In addition, the corporation continues to support ongoing LNP-based and royalty generating partnerships with Alnylam, Monsanto, Dicerna and Spectrum, which brought in non-dilutive financing totaling $20.0 million in 2014.
Tekmira is committed to maximizing the value in these non-HBV assets while at the same time focusing the majority of the Corporation’s R&D spend going forward on the HBV asset portfolio.
Tekmira Pharmaceuticals Corporation is a biopharmaceutical corporation dedicated to discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV).
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