On Tuesday, Shares of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO), lost -53.42% to $18.40.
Genetic Technologies Limited (GENE), Can-Fite BioPharma Ltd. (CANF), KaloBios Pharmaceuticals, Inc. (KBIO), and Sarepta Therapeutics, Inc. (NASDAQ:SRPT) are four tickers in the biotech space with varying degrees of fundamental strength. A recent slump in the sector has temporarily stymied the IPO pipeline and caused valuations to drop. Notably, through mid-October, the NASDAQ Biotech Index has declined 23% from its all-time high in July 2015. This has set up the sector quite nicely for a rebound and a surge as the decline was likely due to sentimental factors while fundamentals for most companies remained strong. Determining which company has strong fundamentals will prove to be profitable for the patient investor.
KaloBios Pharmaceuticals, Inc., a biopharmaceutical company, develops monoclonal antibody therapeutics for the treatment of cancer in the United States. The company’s product candidates comprise KB004, which is in a Phase II clinical trial for the treatment of myelodysplastic syndrome and myelofibrosis; and KB003 that accomplished Phase II clinical trial to treat chronic myelomonocytic leukemia, an orphan oncology indication. KaloBios Pharmaceuticals, Inc. was founded in 2000 and is headquartered in South San Francisco, California.
Shares of Chico’s FAS, Inc. (NYSE:CHS), declined -0.37% to $12.14, during its last trading session.
Chico’s FAS, declared its financial results for the fiscal 2015 third quarter and thirty-nine weeks ended October 31, 2015.
For the thirteen weeks ended October 31, 2015 (“the third quarter”), the Company stated adjusted net income of $17.7 million contrast to adjusted net income of $28.9 million for the thirteen weeks ended November 1, 2014, and third quarter 2015 adjusted earnings per diluted share of $0.13 contrast to adjusted earnings per diluted share of $0.19 in last year’s third quarter. During the third quarter we signed a non-binding letter of intent to sell the Boston Proper direct-to-consumer (“DTC”) business. The third quarter adjusted results exclude net charges of $0.22 per diluted share in 2015 and $0.02 per diluted share in last year’s third quarter related to Boston Proper and restructuring and planned charges (the “Net Charges”), as presented in the accompanying GAAP to Non-GAAP Reconciliation. Counting the impact of the Net Charges, the Company stated a third quarter 2015 net loss of $11.6 million, or $0.09 per diluted share, contrast to net income of $26.5 million, or $0.17 per diluted share, in last year’s third quarter.
For the thirty-nine weeks ended October 31, 2015, the Company stated adjusted net income of $99.7 million contrast to adjusted net income of $101.2 million for the thirty-nine weeks ended November 1, 2014, and adjusted earnings per diluted share of $0.70 contrast to adjusted earnings per diluted share of $0.66 in the same period last year. The adjusted results exclude Net Charges of $0.54 per diluted share in 2015 and $0.03 per diluted share in the same period last year, as presented in the accompanying GAAP to Non-GAAP Reconciliation. Counting the impact of the Net Charges, the Company stated net income of $23.0 million, or $0.16 per diluted share, in 2015 contrast to net income of $96.5 million, or $0.63 per diluted share, in the same period last year.
Chico’s FAS, Inc. operates as an omni-channel specialty retailer of women’s private branded, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items. The company’s portfolio of brands comprises of Chico’s, White House|Black Market (WH|BM), Soma Intimates (Soma), and Boston Proper.
Finally, Shares of United Continental Holdings Inc (NYSE:UAL), ended its last trade with -3.01% loss, and closed at $56.80.
United Continental Holdings, declared that it has reached a contract in Principle with the Air Line Pilots Association (ALPA) for a contract extension covering the airline’s more than 12,000 pilots more than a year ahead of the amendable date of the current contract. The agreement is subject to a ratification process which comprises final documentation, review, and consideration by the ALPA Master Executive Council.
“The fact that we were able to reach this Agreement in Principle in fewer than 30 days is a direct result of the positive, collaborative relationship between ALPA leadership and United,” said Executive Vice President Human Resources and Labor Relations Mike Bonds. “We appreciate the hard work of the company and union negotiating teams in assisting us reach a contract in Principle that will benefit pilots and United.”
United has joint collective bargaining agreements covering the majority of its represented employees and recently declared that it will open contract negotiations early for the airline’s ramp service and passenger service agents, storekeepers, load planners, maintenance and fleet technical instructors, and other groups represented by the International Association of Machinists and Aerospace Workers. The airline is also engaged in mediated negotiations with the Association of Flight Attendants and recently declared a contract with the International Brotherhood of Teamsters to put a projected joint collective bargaining agreement out for ratification by the company’s technicians and related employees.
United Continental Holdings, Inc., together with its auxiliaries, provides air transportation services in North America, the Asia-Pacific, Europe, the Middle East, Africa, and Latin America. It transports people and cargo through its mainline operations, which use jet aircraft with about 118 seats, and its regional operations.