Friday , 6 March 2015

Latest News
Home » Business & Finance » Stocks In Focus: Endocyte, Inc (NASDAQ:ECYT), Smith & Wesson Holding Corp (NASDAQ:SWHC), Mast Therapeutics Inc (NYSEMKT:MSTX), Rigel Pharmaceuticals, Inc (NASDAQ:RIGL)
Stocks In Focus: Endocyte, Inc (NASDAQ:ECYT), Smith & Wesson Holding Corp (NASDAQ:SWHC), Mast Therapeutics Inc (NYSEMKT:MSTX), Rigel Pharmaceuticals, Inc (NASDAQ:RIGL)

Stocks In Focus: Endocyte, Inc (NASDAQ:ECYT), Smith & Wesson Holding Corp (NASDAQ:SWHC), Mast Therapeutics Inc (NYSEMKT:MSTX), Rigel Pharmaceuticals, Inc (NASDAQ:RIGL)

March 5, 2015 1:28 pm by: Category: Business & Finance Leave a comment A+ / A-

Insights about U.S. Stocks that landed in the Green-Zone during Wednesday’s trade, are depicted underneath:

Endocyte, Inc (NASDAQ:ECYT)’s shares picked up 10.15%, and closed at $6.73.

Endocyte, Inc. (ECYT), a leader in developing targeted small molecule drug conjugates (SMDCs) and companion imaging agents for personalized therapy, declared financial results for the fourth quarter ending December 31, 2014, and offered a clinical update.

Forthcoming Predictable Milestones:

  • Final overall survival results from the TARGET trial of vintafolide in combination with docetaxel in NSCLC predictable to be declared in the second or third quarter of 2015.
  • Completion of Phase 1 dose escalation trials for both EC1456 and EC1169, identifying the MTD and preferred plan for each agent. Safety and efficacy data predictable to be declared at a medical conference in 2015.
  • Expansion of the trial for EC1456, which will evaluate the safety and efficacy of EC1456 at the MTD as a monotherapy and in drug combinations in patients with all target lesions positive for the folate receptor in NSCLC, triple-negative breast, ovarian and endometrial cancers. We expect to initiate this portion of the trial in the second half of 2015, and to reach tumor response endpoints in some indications by mid-year 2016.
  • Expansion of the trial for EC1169, which will evaluate the safety and efficacy of EC1169 at the MTD in recurrent prostate cancer patients. We also expect to initiate this portion of the trial on the second half of 2015 and to reach primary endpoints by mid-2016.

Endocyte is a biopharmaceutical corporation and leader in developing targeted therapies for the treatment of cancer and other serious diseases. Endocyte uses its proprietary drug conjugation technology to create novel SMDCs and companion imaging agents for personalized targeted therapies. The corporation’s SMDCs actively target receptors that are over-expressed on diseased cells, relative to healthy cells.

Smith & Wesson Holding Corp (NASDAQ:SWHC), raised 9.89%, and closed at $14.34.

Smith & Wesson Holding Corporation (SWHC), a leader in firearm manufacturing and design, declared financial results for the fiscal 2015 third quarter ended January 31, 2015.

Third Quarter Fiscal 2015 Financial Highlights:

  • Total net sales for the third quarter were $130.6 million, a decrease of 10.5% from net sales of $145.9 million for the third quarter last year. Proceed exceeded the high end of the corporation’s stated guidance range as a result of order strength from distributors and key retailers in January 2015.
  • Firearm division net sales for the third quarter totaled $124.5 million, a decrease of 14.7% from the comparable quarter last year. The corporation believes that during the quarter a portion of the consumer demand for handguns and long guns was satisfied with excess industry channel inventory. Accordingly, net sales of the corporation’s handguns declined $6.8 million, or 6.8%, and net sales of the corporation’s long guns declined $13.5 million, or 39.8%, from the comparable quarter last year.
  • Accessories division net sales for the third quarter were $6.1 million, or 4.6% of total net sales. The corporation’s accessories division is comprised entirely of Battenfeld Technologies, Inc. (BTI), which was attained on December 11, 2014. Therefore, accessories division net sales reflect only a partial quarter of proceed.

Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC) is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality firearms, related products, and training to the global military, law enforcement, and consumer markets.

Mast Therapeutics Inc (NYSEMKT:MSTX), enhanced 9.33%, and closed at $ 0.574.

Mast Therapeutics, Inc. (MSTX), a clinical-stage biopharmaceutical corporation, declared preliminary findings from a randomized, placebo-controlled, nonclinical study of vepoloxamer (MST-188) in a model of chronic, stable heart failure produced by intracoronary microembolizations. The primary objective of this study was to examine the effects of repeat intravenous administration of vepoloxamer on left ventricular (LV) systolic and diastolic function.

Consistent with results of a formerly stated study, in this study, a single, two-hour administration of vepoloxamer resulted in robust improvements that persisted for 1 - 2 weeks in key parameters of heart function, counting LV end-systolic volume, ejection fraction, stroke volume, and cardiac output. Notably, LV ejection fraction was improved by about 20% for up to two weeks, returning to baseline values by three weeks post-administration. Diastolic function also was improved. Following a second administration (three weeks after the first), similar improvements in LV systolic and diastolic function were again observed. The effects observed after the second administration persisted for at least three weeks post-administration to the end of the six-week study. Notably, after the second administration, LV ejection fraction had not returned to baseline values by the end of the six-week study, but was still improved by about 20% above baseline. Vepoloxamer had no statistically noteworthy effect on heart rate or blood pressure contrast to control.

Mast Therapeutics, Inc. is a publicly traded biopharmaceutical corporation headquartered in San Diego, California. The Corporation is leveraging the MAST (Molecular Adhesion and Sealant Technology) platform, derived from over two decades of clinical, nonclinical and manufacturing experience with purified and non-purified poloxamers, to develop vepoloxamer (MST-188), its lead product candidate, for serious or life-threatening diseases and conditions typically characterized by impaired micro vascular blood flow and damaged cell membranes.

Rigel Pharmaceuticals, Inc (NASDAQ:RIGL), rose 9.22%, and closed at $3.08.

Rigel Pharmaceuticals, Inc. (RIGL), stated financial results for the fourth quarter and year ended December 31, 2014. For the fourth quarter of 2014, Rigel stated a net loss of $22.3 million, or $0.25 per share, contrast to a net loss of $16.9 million, or $0.19 per share, in the fourth quarter of 2013. Weighted average shares outstanding for the fourth quarters of 2014 and 2013 were 87.8 million and 87.4 million, respectively.

Contract proceeds from collaborations of $8.3 million and $5.8 million in the fourth quarters of 2014 and 2013, respectively, were comprised of non-refundable payments earned from AstraZeneca AB (AZ) as a result of its continued development of R256 in asthma.

Rigel stated total costs and expenses of $30.6 million in the fourth quarter of 2014, contrast to $22.7 million in the fourth quarter of 2013. The raise in costs and expenses was primarily due to a charge related to the loss on executing a sublease during the quarter, in addition to an raise in stock-based compensation expense and severance costs related to the retirement of Rigel’s former chief executive officer, partially offset by the decrease in research and development costs. The loss on the sublease is determined based on the present value of the excess of Rigel’s future remaining payments to its landlord through January 2018 associated with the applicable subleased space over its contractual sublease revenue from its subtenant over the term of the sublease contract Rigel executed in December 2014. The research and development costs in the fourth quarter of 2013 were comprised of certain non-recurring development costs related to the transfer of fostamatinib raw materials from AZ. Research and development costs reduced in 2014 due to the completion of a Phase 2 clinical study with R348 in dry eye and the discontinuation of a Phase 1 clinical study with R118, Rigel’s indirect AMPK activator program.

Rigel Pharmaceuticals, Inc. is a clinical-stage drug development corporation that discovers and develops novel, small-molecule drugs for the treatment of inflammatory and autoimmune diseases, immuno-oncology related diseases, and muscle disorders. Rigel’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

Stocks In Focus: Endocyte, Inc (NASDAQ:ECYT), Smith & Wesson Holding Corp (NASDAQ:SWHC), Mast Therapeutics Inc (NYSEMKT:MSTX), Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) Reviewed by on . Insights about U.S. Stocks that landed in the Green-Zone during Wednesday's trade, are depicted underneath: Endocyte, Inc (NASDAQ:ECYT)'s shares picked up 10.15 Insights about U.S. Stocks that landed in the Green-Zone during Wednesday's trade, are depicted underneath: Endocyte, Inc (NASDAQ:ECYT)'s shares picked up 10.15 Rating: 0

About Sheila Burnford

Leave a Comment

scroll to top