Insights about U.S. Stocks that landed in the Red-Zone during Thursday’s trade, are depicted underneath:
Amedisys Inc (NASDAQ:AMED)’s shares dwindled -3.67%, and closed at $3.67.
Amedisys Inc. (AMED), a leading home health and hospice corporation, stated its financial results for the fourth quarter and year ended December 31, 2014.
Three-Month Periods Ended December 31, 2014 and 2013:
- After adjusting for the 2014 period, $0.2 million ($0.1 million, net of revenue tax ) or $0.01 per diluted share and for the 2013 period $9.6 million ($5.9 million, net of revenue tax) or $0.19 per diluted share for certain items*, our adjusted results from ongoing operations were as follows:
- Net service proceed of $300.5 million contrast to $303.5 million in 2013.
- Net revenue from ongoing operations attributable to Amedisys, Inc. of $9.0 million contrast to net loss from ongoing operations of $2.2 million in 2013. (Net revenue from ongoing operations attributable to Amedisys, Inc. of $9.1 million contrast to net loss from ongoing operations attributable to Amedisys, Inc. of $8.2 million in 2013 on a GAAP basis.)
- Net revenue from ongoing operations attributable to Amedisys, Inc. per diluted share of $0.27 contrast to net loss from ongoing operations attributable to Amedisys, Inc. of $0.07 per diluted share in 2013. (Net revenue from ongoing operations attributable to Amedisys, Inc. per diluted share of $0.28 contrast to net loss from ongoing operations attributable to Amedisys Inc. per diluted share of $0.26 in 2013 on a GAAP basis.)
- Earnings before interest, taxes, depreciation and amortization attributable to ongoing operations (“EBITDA”) of $22.9 million contrast to $6.8 million in 2013.
Amedisys, Inc., together with its auxiliaries, provides home health and hospice care services. It operates through two segments, Home Health and Hospice.
Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC), declined -3.64%, and closed at $1.06.
Cyclacel Pharmaceuticals, Inc. (CYCC), declared that it has priced its formerly declared public offering of 10,000,000 shares of its ordinary stock, at a price to the public of $1.00 per share, for gross proceeds of $10.0 million. The offering is predictable to close on March 9, 2015, subject to customary closing conditions. The net proceeds, after deducting placement agent fees and expenses and other estimated fees and expenses payable by the Corporation, are about $9.2 million. The Corporation intends to use the proceeds from this offering for the continued clinical development of its most advanced product candidate, sapacitabine, in myelodysplastic syndromes (MDS) and other indications, Phase 1 clinical trials of its cyclin dependent kinase (CDK) inhibitor, CYC065, and general corporate purposes.
H.C. Wainwright & Co., LLC is acting as the sole book runner for the offering.
Cyclacel is a biopharmaceutical corporation developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious diseases. Sapacitabine, Cyclacel’s most advanced product candidate, is the subject of SEAMLESS, a Phase 3 trial, which has accomplished enrollment and is being conducted under an SPA with the FDA as front-line treatment for acute myeloid leukemia (AML) in the elderly, and other studies for myelodysplastic syndromes (MDS) and chronic lymphocytic leukemia (CLL).
MannKind Corporation (NASDAQ:MNKD), dipped -3.54%, and closed at $5.73.
Formerly on February 24, MannKind Corp. (MNKD), stated financial results for the fourth quarter and full year ended December 31, 2014.
For the fourth quarter, our operating expenses declined 35% contrast to the similar quarter in 2013. Research and development costs were significantly lower, mainly due to a reduction in non-cash compensation expenses and much lower clinical trial expenses following the completion of the Affinity studies in 2013. General and administrative costs declined 29%, mainly reflecting lower non-cash compensation expenses.
For the full year 2014, our total operating expenses raised modestly, with a decrease in research and development costs offset by an raise in general and administrative costs. Research and development costs reduced due to the completion of our Affinity trials, the pivotal clinical trials regarding the efficacy and safety of our novel inhaled insulin, Afrezza. Higher general and administrative costs resulted primarily from raised professional fees, principally related to the negotiation and completion of a partnership contract with Sanofi. In addition, professional fees reflected a noteworthy expansion in our program to identify, screen and fully evaluate new product opportunities that will best take advantage of the unique advantages of our Technosphere(R) drug delivery technology.
Cash and cash equivalents at the end of 2014 were $120.8 million. Subsequent to year end, we received $50.0 million regarding two product development milestones achieved in the fourth quarter of 2014 from our partnership contract with Sanofi. In addition, we have $30.1 million of borrowings remaining under the loan arrangement with the Mann Group.
“After achieving a number of noteworthy milestones during 2014, we began the commercial production of Afrezza during the fourth quarter of the year,” said Hakan Edstrom, MannKind’s President and Chief Executive Officer. “With our flagship product, Afrezza(C), in the early stages of its commercial launch in the United States, we now enter a very exciting new phase for MannKind.”
MannKind Corporation, a biopharmaceutical corporation, focuses on the discovery, development, and commercialization of therapeutic products for diabetes in the United States.
InterDigital, Inc (NASDAQ:IDCC), dropped -3.49%, and closed at $53.61, hitting new 52-week high of $56.27.
InterDigital, Inc. (IDCC), declared that it intends to offer, subject to market and other conditions, $275 million aggregate principal amount of Senior Convertible Notes due 2020 in a private offering. The notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Act”). InterDigital also anticipates to grant to the initial purchasers of the notes a 13-day option to purchase up to an additional $41 million aggregate principal amount of notes, solely to cover over-allotments, if any.
The notes will pay interest semi-annually in cash on March 1 and September 1 and will mature on March 1, 2020. Preceding to December 1, 2019, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second planned trading day preceding the maturity date. Conversions of the notes will be settled in cash, shares of InterDigital’s ordinary stock or a combination thereof, at InterDigital’s election. The interest rate, the conversion rate of notes and certain other terms of the notes will be determined by negotiations between InterDigital and the initial purchasers of the notes.
InterDigital anticipates to use a portion of the net proceeds from the offering of the notes and the proceeds from the sale of the warrants to fund the cost of the convertible note hedge transactions. The remaining net proceeds from the offering of the notes will be used for the repurchase of up to $50 million of shares of InterDigital ordinary stock from institutional investors through one of the initial purchasers or its associate, as InterDigital’s agent, co-presently with the pricing of the offering of the notes, and for general corporate purposes, which may comprise, among other things, the repurchase or retirement of InterDigital’s outstanding indebtedness.
The notes and the shares of InterDigital ordinary stock issuable upon conversion, if any, have not been registered under the Act or applicable state securities laws and may not be offered or sold in the United States except following an exemption from the registration requirements of the Act and applicable state securities laws.
InterDigital develops technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment.
