During Friday’s Morning trade, Shares of Penumbra, Inc. (NYSE:PEN), surged 21.55% to $48.95.
Penumbra declared that its administration team is planned to present at the Canaccord Genuity Medical Technologies and Diagnostics Forum in New York, NY, on Thursday, November 19, 2015.
Penumbra, Inc. designs, develops, manufactures, and markets medical devices in United States, Japan, and internationally. The company offers neurovascular access products under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, PXSLIM, and Velocity brands; and aspiration-based thrombectomy systems and accessory devices under the Penumbra System brand, in addition to stent retriever for mechanical thrombectomy under the 3D brand.
Shares of Aoxing Pharmaceutical Company, Inc. (NYSEMKT:AXN), inclined 12.05% to $1.48, during its current trading session.
Aoxing Pharmaceutical, declared that, for the first quarter of fiscal 2016 ended September 30, 2015, the company achieved revenue of $8,744,822, a 92 percent improvement on revenue of $4,565,081 recorded in the same quarter in fiscal 2015.
The company’s net income in Q1 fiscal 2016 was $1,348,433, or .02 per share, contrast to a net loss of $2,405, or $(.00) per share, in like year-ago quarter.
Weighted average number of shares outstanding was 69,852,302 for Q1 fiscal 2016 and 53,098,267 for Q1 fiscal 2015.
Aoxing’s cash balance as of September 30, 2015 was $8,171,875, contrast to $2,343,822 as of September 30, 2014.
The company’s year-over-year improvement in first quarter revenue was primarily attributable to a higher proportion of direct product sales made by Aoxing to its end customers, allowing for higher gross margins. Aoxing’s Q1 revenue also improved as a result of procurement from four provincial governments of the company’s lead TCM product, Zhongtongan. This procurement commenced as a result of Zhongtongan being comprised in the government essential drug procurement lists in these provinces.
Aoxing Pharmaceutical Co., Inc., a specialty pharmaceutical company, engages in research, development, manufacture, and distribution of narcotic, pain-administration, and addiction treatment pharmaceutical products primarily in the People’s Republic of China. The company’s principal products comprise Zhongtongan, a capsule of herbal extraction for the indication of oral and dental pain; and Bismuth Potassium Citrate, an oral solution for the treatment of chronic gastritis and stomachache due to excessive stomach acid.
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