On Monday, Following U.S. Stocks were among the “Top Losers”: ArQule, Inc. (NASDAQ:ARQL), AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) , Swift Energy Company (NYSE:SFY), Biocept Inc (NASDAQ:BIOC)
ArQule, Inc. (NASDAQ:ARQL), with shares declined –10.25%, closed at $1.97.
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) , with shares dropped -10.00%, settled at $1.26.
Biocept Inc (NASDAQ:BIOC), with shares dipped -9.93%, and closed at $2.54.
Swift Energy Company (NYSE:SFY), plummeted -9.83%, and closed at $2.11.
Latest NEWS regarding these Stocks are depicted underneath:
ArQule Inc. (NASDAQ:ARQL)
Formerly on March 4, ArQule Inc. (ARQL), stated a net loss of $23,391,000 or $0.37 per share, for the year ended December 31, 2014, contrast with a net loss of $24,600,000 or $0.39 per share, for the year ended December 31, 2013. For the quarter ended December 31, 2014, the Corporation stated a net loss of $3,512,000 or $0.06 per share, contrast with net loss of $5,956,000 or $0.10 per share, for the quarter ended December 31, 2013.
Proceeds and Expenses:
Proceeds for the year ended December 31, 2014 were $11,254,000 contrast with proceeds of $15,914,000 for the year ended December 31, 2013. For the quarter ended December 31, 2014, proceeds were $3,015,000, contrast with proceeds of $2,275,000 for the quarter ended December 31, 2013.
The $4.6 million proceed decrease in 2014 was primarily due to proceed decreases of $2.2 million from our Daiichi Sankyo tivantinib program due a change in the estimated development period, $1.2 million from our Daiichi Sankyo ARQ 092 contract that ended in June 2013 and $1.7 million of other proceed from a one-time research project that was accomplished 2013. These decreases were partially offset by lower contra-proceed of $0.5 million.
Fiscal 2014 research and development expenses were $22,271,000, contrast with $27,555,000 for fiscal 2013. Fourth quarter 2014 research and development expenses were $4,290,000, contrast with $5,337,000 for the fourth quarter 2013.
The $5.3 million decrease in research and development expense in 2014 was primarily due to lower labor related costs of $4.2 million from July 2013 and August 2014 restructurings and reduced lab expenses of $1.0 million. Other cost reductions in 2014 of $0.9 million were partially offset by a $0.8 million raise in outsourced clinical and product development costs. The decrease in research and development expense in the fourth quarter of 2014 was primarily due to lower labor related and other cost reductions from our August 2014 restructuring.
General and administrative expenses for fiscal 2014 were $12,154,000, contrast to $12,836,000 for fiscal 2013. Fourth quarter 2014 general and administrative costs were $2,836,000, contrast with $3,125,000 for the fourth quarter 2013. The decrease in general and administrative expense in 2014 was primarily due to lower labor related costs from restructurings taking place in July 2013 and August 2014. The decrease in general and administrative expense in the fourth quarter of 2014 was primarily due to lower professional fees.
ArQule is a biotechnology corporation engaged in the research and development of next-generation, small-molecule cancer therapeutics. The Corporation’s targeted, broad-spectrum products and research programs are focused on key biological processes that are central to human cancers. ArQule’s lead product, in Phase 2 and Phase 3 clinical development, is tivantinib (ARQ 197), an oral, selective inhibitor of the c-MET receptor tyrosine kinase.
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO)
Formerly on March 6, AVEO Pharmaceuticals, Inc. (AVEO), ended 2014 with $52.3 million in cash and cash equivalents.
Total partnership proceed for 2014 was about $18.1 million contrast with $1.3 million for 2013. The raise was primarily due to recognition of an additional $13.7 million of formerly deferred proceed as a result of the modification of the Corporation’s arrangement with Biogen Idec. In addition, the Corporation recognized an additional $3.1 million of partnership proceed in connection with the change in the estimated period of performance associated with the Corporation’s partnership with Astellas as a result of the termination of the contract in August 2014. Research and development (R&D) expense for 2014 was $38.3 million contrast with $68.5 million for 2013. The decrease in R&D expense was primarily due to a reduction in personnel-related expenses following AVEO’s June 2013 planned restructuring in addition to a decrease in external clinical trial, research, and medical affairs costs associated with reduced tivozanib clinical trial activity, and a decrease of costs regarding the manufacturing of ficlatuzumab, which was accomplished in 2013.
General and administrative (G&A) expense for 2014 was $18.6 million contrast with $28.7 million for 2013.The decrease in G&A expense was primarily due to a reduction in personnel-related expenses following AVEO’s June 2013 planned restructuring in addition to a decrease in marketing and consulting costs due to termination of work related to tivozanib pre-commercialization activities.
Restructuring and lease exit expense for 2014 was $11.7 million contrast with $8.0 million for 2013. The expenses incurred during 2014 relate to costs associated with partially vacating and subsequently terminating the contract for the Corporation’s leased space. The expenses incurred during 2013 relate to severance and employee benefits incurred as part of the June 2013 planned restructuring.
Net loss for 2014 was $52.7 million, or a net loss of $1.01 per basic and diluted share contrast with net loss of $107.0 million or a net loss of $2.10 per basic and diluted share for 2013.
AVEO Oncology (AVEO) is a biopharmaceutical corporation committed to developing targeted therapies through biomarker-driven insights to provide improvements in patient outcomes where noteworthy unmet medical needs exist.
Biocept, Inc. (NASDAQ:BIOC)
Biocept, Inc. (BIOC), declared the launch of its EGFR mutation detection testing utilizing a patient’s blood-based liquid biopsy. This innovative diagnostic has the potential to assist physicians identify which of their patients may be receptive to certain non-small cell lung cancer treatments.
The identification of these mutations in patients with advanced NSCLC can provide them with the opportunity to receive optimal targeted therapies, known as Tyrosine Kinase Inhibitors (TKIs). In the United States, there are two FDA-approved TKI therapies for patients with specific EGFR mutations: Erlotinib, marketed as Tarceva(R) by Genentech, Inc.; and Afatinib, marketed as Gilotrif(R) by Boehringher Ingelheim GmbH.
“At the time of recurrence or progression of non-small cell lung cancer, many patients may not have the option to have an assessment of EGFR mutation status because all of the original tissue biopsy material was consumed by the diagnostic testing conducted to identify the cancer. In other cases, patients may be too sick to undergo a surgical biopsy. For patient populations who are not candidates for tissue biopsy, there is a clear need for a test that enables physicians to better manage their cancer,” said Raaj Trivedi, VP of Commercial Operations for Biocept. “With the addition of EGFR mutation testing to our NSCLC diagnostic capabilities, we believe we are addressing this unmet medical need by delivering diagnostic results that are comparable to those accessible through tissue biopsy from a simple blood test.”
“With existing FDA-approved drugs on the market, every lung cancer patient should have the opportunity to have their sample tested to potentially qualify and benefit from one of these targeted therapies,” said Veena Singh, M.D., Senior Medical Director of Biocept. “Our blood test, with its high level of both sensitivity and specificity, may assist patients qualify for important therapeutic options when a tissue biopsy is not safe or practical. Testing for these mutations in blood is a safe and effective alternative to tissue biopsy for monitoring patients for both response and possible resistance to therapies.”
Biocept, Inc., a cancer diagnostics corporation, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA tests utilizing a standard blood sample.
Swift Energy Co. (NYSE:SFY)
in a research note on Tuesday, February 24th , Analysts at SunTrust restated, Swift Energy Co. (SFY), set a $2.00 price target (down formerly from $8.00) on shares of Swift Energy Corporation and assign a “reduce” rating.
Analysts at Howard Weil set a “sector perform” rating for the stock and lowered their price target on shares of Swift Energy Corporation from $6.00 to $2.00, in a research note on Monday, February 2nd.
In a research note on Wednesday, January 14th, Analysts at Barclays set an “underweight” rating on the stock and lowered their price target on shares of Swift Energy Corporation from $1.50 to $0.50. As a final point, analysts at Raymond James downgraded shares of Swift Energy Corporation from a “market perform” rating to an “underperform” rating in a research note on Tuesday, January 6th.
Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.06.
Swift Energy Corporation, an independent oil and gas corporation, attains, explores, develops, and operates oil and gas properties. The corporation focuses on the Eagle Ford trend of South Texas, in addition to the onshore and inland waters of Louisiana.
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