On Tuesday, Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX), lost -20.56% to $16.96.
Celldex Therapeutics, stated business and financial highlights for the second quarter ended June 30, 2015.
Second Quarter and First Six Months 2015 Financial Highlights and 2015 Guidance
- Cash position: Cash, cash equivalents and marketable securities as of June 30, 2015 were $334.0 million contrast to $359.8 million as of March 31, 2015. The decrease was primarily driven by our second quarter net cash burn of $25.8 million. As of June 30, 2015 Celldex had 98.5 million shares outstanding.
- Revenues: Total revenue was $2.2 million in the second quarter of 2015 and $2.7 million for the six months ended June 30, 2015, contrast to $0.6 million and $1.0 million for the comparable periods in 2014. The enhance in the second quarter of 2015 and the six months ended June 30, 2015 was primarily due to our clinical trial partnership with Bristol-Myers Squibb and our research and development agreement with Rockefeller University.
- R&D Expenses: Research and development (R&D) expenses were $26.5 million in the second quarter of 2015 and $51.6 million for the six months ended June 30, 2015, contrast to $24.1 million and $51.2 million for the comparable periods in 2014.
Celldex Therapeutics, Inc., a biopharmaceutical company, develops, manufactures, and commercializes novel therapeutics for human health care in the United States. The company’s lead drug candidates comprise rindopepimut (CDX-110), a targeted immunotherapeutic in a pivotal Phase III study for the treatment of front-line glioblastoma, in addition to in Phase II study for the treatment of recurrent glioblastoma; and Glembatumumab vedotin (CDX-011), a targeted antibody-drug conjugate in a randomized Phase IIb study for the treatment of triple negative breast cancer, in addition to in Phase II study for the treatment of metastatic melanoma.
Shares of GrafTech International Ltd (NYSE:GTI), inclined 0.20% to $5.05, during its last trading session.
GrafTech International Ltd., declared it has consummated the formerly declared sale of $150 million of preferred equity to an associate of Brookfield Asset Administration Inc. (BAM) (BAM-A.TO) (Euronext: BAMA) (Brookfield).
Under the terms of the investment agreement, GrafTech issued to Brookfield, in a private offering convertible preferred shares in two series, series A shares and series B shares. The series A shares are right away convertible into GrafTech common shares equal to about 19.9% of the presently outstanding shares of GrafTech common stock, at a conversion price of $5.00 per common share, subject to customary anti-dilution adjustments. The series B shares will become convertible into common shares equal to about 2% of the presently outstanding shares only upon approval by GrafTech stockholders in accordance with New York Stock Exchange requirements. If approved, the two series will be combined into one series.
GrafTech International Ltd. manufactures and sells graphite and carbon material science-based solutions. It operates through two segments, Industrial Materials and Engineered Solutions.
Finally, NetScout Systems, Inc. (NASDAQ:NTCT), ended its last trade with -1.13% loss, and closed at $39.43.
NetScout Systems declared financial results for its first quarter of fiscal year 2016 ended June 30, 2015.
“NetScout’s first-quarter fiscal year 2016 results reflect another quarter with revenue in excess of $100 million together with solid non-GAAP profitability as we were very happy by the growing interest in our nGeniusONE solution by both enterprise and service provider customers,” stated Anil Singhal, NetScout’s president and CEO. “With the planned acquisition of Danaher’s Communication business now complete, we have the potential to significantly accelerate the planned plans that we put in place several years ago to further expand our business and extend our reach into complementary markets. We move forward with a compelling range of capabilities that we believe extends our leadership position in the broader service assurance and cyber security markets, as we drive to fulfill the responsibility associated with our new tag line and mission, called Guardians of the Connected World.”
Q1 FY16 Financial Results
NetScout’s financial results for the first quarter of fiscal year 2016 do not comprise any contribution from Danaher’s Communications Business, which was attained on July 14, 2015.
Total revenue for the first quarter of fiscal year 2016 was $100.7 million, a 7% decrease from over $107.9 million in the same period last year. Non-GAAP revenue for the first quarter of fiscal year 2016 also reduced by 7%. The first-quarter fiscal year 2016 revenue performance was in line with the Company’s guidance that was offered at the starting of the quarter. As formerly stated, total revenue in last year’s first quarter benefited primarily from the activity of one of NetScout’s tier-one service provider customers who has a purchasing pattern of placing one large order to support deployment plans that span multiple quarters.
NetScout Systems, Inc., together with its auxiliaries, designs, develops, manufactures, markets, licenses, sells, and supports network, application, and service assurance solutions in the United States, Europe, Asia, and internationally.
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