On Tuesday, FibroGen Inc (NASDAQ:FGEN)’s shares declined -7.34% to $18.44.
FibroGen Inc (FGEN) stated financial results for the quarter ended March 31, 2015.
Other Program Updates
FG-3019
- In idiopathic pulmonary fibrosis, we continue to enroll patients in a 136 patient Phase 2 placebo controlled study in the U.S. and expect to open additional clinical sites outside of the U.S. in the third quarter of 2015.
- In pancreatic cancer, we are evaluating in an open-label Phase 2 study the ability of FG-3019, in combination with gemcitabine and nab-paclitaxel, to convert inoperable pancreatic cancer to operable cancer.
- In Duchenne muscular dystrophy, following an expert advisory panel review accomplished in March 2015, we plan to file an IND, and to commence a Phase 2 study in non-ambulatory patients in the second half of 2015.
Financial Highlights
- The final audited reports of two long-term roxadustat pre-clinical carcinogenicity studies were accomplished, further supporting the safety profile of roxadustat and triggering a $15.0 million milestone payment by AstraZeneca.
- Revenue was $16.3 million and operating expenses were $61.0 million for the first quarter of 2015. Net loss per share for the first quarter of 2015 was $(0.78) based on 59.2 million shares outstanding contrast to net loss per share of $(0.27) for the first quarter of 2014 based on the same number of shares outstanding on a pro-forma basis.
FibroGen, Inc., a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents to treat serious unmet medical needs. It is developing roxadustat, or FG-4592, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; FG-3019, a monoclonal antibody in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, and liver fibrosis; and FG-5200 for the treatment of corneal blindness resulting from partial thickness corneal damage.
Paragon Offshore PLC (NYSE:PGN)’s shares dropped -7.95% to $1.62.
Paragon Offshore PLC (PGN) stated first quarter 2015 net income of $61.1 million, or $0.69 per diluted share as contrast to first quarter 2014 net income of $124.6 million, or $1.47 per diluted share. Results for the quarter comprise a $16.8 million, or $0.17 per diluted share, gain on the sale of an asset and a $4.3 million, or $0.05 per diluted share, gain related to the repurchase of an aggregate principal amount of $11 million of its senior unsecured notes. For periods preceding to Paragon’s spin-off from Noble Corporation plc (“Noble”) on August 1, 2014 (the “Spin-Off”), results of operations are based on Noble’s standard-specification business and comprise contributions from three standard specification rigs retained by Noble and three standard specification rigs that were sold preceding to the Spin-Off.
Operating Highlights
Paragon’s total contract backlog at March 31, 2015 was an estimated $1.9 billion contrast to $2.2 billion at December 31, 2014.
Utilization of Paragon’s marketed floating rig fleet raised in the first quarter to 100 percent contrast to 94 percent in the fourth quarter of 2014. Average daily revenues for Paragon’s floating rig fleet reduced four percent to $277,000 per rig in the first quarter of 2015 from $287,000 per rig in the fourth quarter of 2014.
First quarter 2015 utilization of Paragon’s marketed jackup rig fleet reduced to 71 percent contrast to the 82 percent utilization achieved during the fourth quarter of 2014. Average daily revenues for Paragon’s jackup fleet during the first quarter improved by five percent to $127,000 per rig from $120,000 per rig during the fourth quarter of 2014.
Paragon Offshore plc, together with its auxiliaries, provides offshore drilling rigs. The company is involved in contracting its rigs, related equipment, and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a day rate basis.
At the end of Tuesday’s trade, Intelsat SA (NYSE:I)‘s shares dipped -7.20% to $10.44.
Intelsat SA (I) has donated its satellite services to two organizations making a difference in the region: the American Red Cross working in partnership with the International Federation of Red Cross & Red Crescent Societies (IFRC), and Team Rubicon. These organizations are deploying satellite-based broadband networks to support critical medical and logistical operations in the region.
The Red Cross network is utilizing capacity on Intelsat 906 located at 64° E, linking via the IntelsatOne® terrestrial network at Intelsat’s Fuchsstadt, Germany Teleport to support internet and Voice over Internet Phone (VoIP) service to remote hospitals in Nepal, providing field aid workers with connectivity that improves safety, morale and peace of mind in the wake of the disaster.
Intelsat S.A., through its auxiliaries, provides satellite communications services worldwide. It offers a range of communications services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications in the air and on the seas, multinational corporations, and ISPs; and commercial satellite communication services to the U.S. government and other military organizations and their contractors.
ReneSola Ltd. (ADR) (NYSE:SOL), ended its Tuesday’s trading session with -7.01% loss, and closed at $1.46.
ReneSola Ltd. (ADR) (SOL) declared that it will report its unaudited financial results for the first quarter ended March 31, 2015 before the U.S. markets open on June 2, 2015.
ReneSola’s administration will host an earnings conference call on June 2, 2015 at 8 am U.S. Eastern Time (8 pm Beijing/Hong Kong time).
ReneSola Ltd, through its auxiliaries, manufactures and sells various solar power products. It operates through two segments, Wafer, and Cell and Module. The company offers virgin polysilicon; mono crystalline and multi crystalline solar wafers; and photovoltaic cells.
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