On Thursday, Shares of Infosys Ltd ADR (NYSE:INFY), gained 1.01% to $18.03.
SugarCRM Inc., declared its partnership with Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, to deliver customer relationship administration (CRM) solutions based on Sugar products. With more than 900 clients in various industries across 50 countries, Infosys will extend SugarCRM’s global presence in the market for enterprise CRM solutions.
Under the terms of the agreement, Infosys and SugarCRM will collaborate on joint opportunities, with SugarCRM providing CRM software and Infosys providing related services. The two companies will also work together to build out reference architectures and solutions for selected industries, counting electronics, financial services and manufacturing. Infosys and SugarCRM will invest in adding Sugar to the Infosys Digital Integration Services Center of Excellence, and in developing skills within that center.
As partners, Infosys and Sugar will address the market’s heightened expectations of CRM technology — a tool that drives business transformation through customer engagement. Together, the two companies will offer enterprise customers unprecedented innovation and flexibility on a global scale.
Infosys Limited, together with its auxiliaries, provides business consulting, technology, engineering, and outsourcing services in North America, Europe, India, and internationally. Its solutions comprise business information technology (IT) services comprising application development and maintenance, independent validation services, infrastructure administration, business process administration, and engineering services compriseing of product engineering and life cycle solutions; and consulting and systems integration services, counting consulting, enterprise solutions, systems integration, and advanced technologies.
Shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), declined -8.59% to $1.17, during its last trading session.
AVEO Oncology stated financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Financial Highlights
- AVEO ended Q2 2015 with $26.8 million in cash and cash equivalents.
- Total partnership revenue was about $0.1 million contrast with $1.8 million for Q2 2014. The decrease was primarily due to an additional $1.8 million in revenue recognized in connection with our agreement with Astellas, which concluded in August 2014.
- Research and development (R&D) expense was $1.8 million contrast with $9.3 million for Q2 2014. The decrease in R&D expense was primarily due to a reduction in personnel-related expenses following our January 2015 planned restructuring, the reduction of our leased facilities, in addition to a decrease in external clinical trial and consulting costs associated with the reduced tivozanib clinical development activity and AV-380 preclinical development activity.
- General and administrative (G&A) expense was $2.9 million contrast with $4.8 million for Q2 2014. The decrease in G&A expense was primarily due to a reduction in external legal costs associated with various ongoing legal matters and a decrease in employee compensation, facilities and IT costs following our January 2015 restructuring and the reduction of our leased facilities.
- Restructuring and lease exit expense was $25,000 contrast with $5.2 million for Q2 2014. The expense incurred during Q2 2015 related to accretion expense associated with the lease termination liability for the 650 E. Kendall Street facility, whereas the expense incurred during Q2 2014 related to the portion of the 650 E. Kendall Street facility that we ceased using during that quarter.
- Net loss for Q2 2015 was $5.5 million, or a loss of $0.10 per basic and diluted net loss per share contrast with net loss of $18.0 million or a loss of $0.35 per basic and diluted net loss per share for Q2 2014.
AVEO Pharmaceuticals, Inc., a biopharmaceutical company, develops targeted therapies for patients with cancer and related diseases. Its product candidates under development comprise Tivozanib, an tyrosine kinase inhibitor for various vascular endothelial growth factors; Ficlatuzumab, a hepatocyte growth factor inhibitory antibody, which has accomplished Phase II trial; and AV-203, an anti-ErbB3 monoclonal antibody that has accomplished a Phase I dose escalation study.
Finally, Arrowhead Research Corp (NASDAQ:ARWR), ended its last trade with -1.37% loss, and closed at $5.77.
The four tickers Immunomedics Inc. (IMMU), KaloBios Pharmaceuticals Inc. (KBIO), Pluristem Therapeutics Inc. (PSTI), and Arrowhead Research Corp (ARWR) have been attracting investors’ attention.
While biotech R&D risks exist (e.g., manufacturing complexity, social and ethical issues), the segment continues to see great potential and that is representative of market innovation and investment. However, investor confidence lags pre-recession levels and limits revenue growth somewhat. Nonetheless, recent years have seen some positive news in relation to FDA approvals and U.S. IPOs, which may improve the segment’s attractiveness. Biotechnology companies need to focus on improving R&D efficiency in the face of limited resources and investor skepticism.
To pick out the winners, investors must do a lot of research and have in-depth understanding about the industry. Our report gives an overview about the industry, its key success factors, the current stage of the biotechnology industry, in addition to our opinions on the four stocks.
Arrowhead Research Corporation develops novel drugs to treat intractable diseases in the United States. The company’s principal product candidates comprise ARC-520, an RNAi-based therapeutic that is in Phase IIa clinical trial to treat chronic hepatitis B virus infection; and ARC-AAT, a novel unlocked nucleobase analog containing RNAi-based therapeutic for the treatment of liver disease associated with alpha-1 antitrypsin deficiency.
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