On Friday, Shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), lost -2.11% to $7.41.
Achillion Pharmaceuticals stated financial results for the three and six months ended June 30, 2015. For the second quarter of 2015, Achillion stated a net loss of $29.0 million or $0.25 per share, contrast with a net loss of $15.7 million or $0.16 per share for the second quarter of 2014. Cash, cash equivalents, marketable securities, and interest receivable as of June 30, 2015 were $261.1 million.
During the second quarter, Achillion granted Janssen Pharmaceuticals, Inc. (Janssen), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, an exclusive, worldwide license to develop and, upon regulatory approval, commercialize HCV products and regimens containing one or more of Achillion’s HCV assets. Assuming successful development and commercialization, Achillion is eligible to receive up to $905 million in clinical, regulatory and commercialization milestone payments. Achillion is also eligible to receive tiered royalty percentages between mid-teens and low-twenties based upon future worldwide sales. Janssen is responsible for all of the development costs within the partnership and all subsequent costs related to commercialization of the HCV assets. On July 1, 2015, Achillion received $225 million from Johnson & Johnson Innovation – JJDC, Inc. following the issuance of 18,367,346 shares of Achillion at a price of $12.25 per share.
Second Quarter Results
For the three months ended June 30, 2015, Achillion stated a net loss of $29.0 million contrast with a net loss of $15.7 million during the same period of 2014. The Company recognized $711,000 in revenue for the three months ended June 30, 2015, representing a portion of the premium paid by JJDC associated with its equity purchase of Achillion common stock, which is being recognized over the 180-day technology transfer period. No revenue was recognized during the same period in 2014.
Research and development expenses were $19.8 million for the three months ended June 30, 2015, contrast with $12.2 million for the same period of 2014. Research and development expenses raised primarily due to raised manufacturing costs for ACH-3422 and preclinical costs for the Company’s complement inhibitors, partially offset by reduced clinical trial costs for odalasvir and its combination clinical trials. For the three months ended June 30, 2015, general and administrative expenses were $10.1 million, contrast with $3.6 million incurred during the same period in 2014. The enhance for the three months ended June 30, 2015 was primarily due to raised business consulting and corporate legal fees related to the Janssen Agreement, raised corporate fees and taxes, and raised non-cash stock-based compensation costs.
Achillion Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes anti-infective drug therapies in the United States and internationally. It focuses on developing combination therapies for the treatment of chronic hepatitis C (HCV) infection and drug-resistant bacterial infections.
Shares of Coty Inc (NYSE:COTY), declined - 2.82% to $29.61, during its last trading session.
Coty Inc., declared that its Board of Directors has approved a $700 million share repurchase authorization of its Class A common stock. This authorization comprises any amounts remaining under the existing stock repurchase authorization.
“We continue to remain focused on returning capital to our shareholders through share repurchases and dividends while ongoing to invest in our business. Our strong financial position and operating cash flow enabled us to continue with, and enhance the size of, our share repurchase program. Today’s declaration builds upon our ongoing commitment to our shareholders,” stated Patrice de Talhouët, Coty Executive Vice President, and Chief Financial Officer.
Repurchases will be made from time to time at the Company’s discretion, based on ongoing assessments of the capital needs of the business, the market price of its common stock, and general market conditions. No time has been set for the completion of the repurchase program, and the program may be suspended or suspended at any time. The repurchase program authorizes the Company to purchase its common stock from time to time through open market purchases, negotiated transactions or other means, counting 10b5-1 trading plans in accordance with applicable securities laws and other restrictions.
Coty Inc., together with its auxiliaries, manufactures, markets, and distributes women’s and men’s fragrances, color cosmetics, and skin and body care related products worldwide. The company operates through three segments: Fragrances, Color Cosmetics, and Skin & Body Care.
At the end of Friday’s trade, Shares of Republic Airways Holdings Inc. (NASDAQ:RJET), lost -1.03% to $3.85.
Republic Airways Holdings stated preliminary passenger traffic results for July 2015.
The Company generated more than 1 billion revenue passenger miles (RPMs) in July, down about 5 percent contrast to the same period in 2014, with a 6 percent reduction in accessible seat miles (ASMs). Block hours declined 5 percent to about 63,000, and the load factor raised 1 percentage point contrast to the same period last year. Republic Airways carried more than 2 million passengers during the month, an enhance of 1 percent contrast to July 2014.
Republic Airways Holdings Inc., based in Indianapolis, Indiana, is an airline holding company that owns Republic Airlines and Shuttle America, collectively called “the airlines.” The airlines operate a combined fleet of about 240 aircraft and offer planned passenger service with about 1,250 flights daily to about 100 cities in the U.S., Canada and the Caribbean through fixed-fee flights operated under our major airline partner brands of American Eagle, Delta Connection, United Express and US Airways Express. The airlines presently employ about 6,500 aviation professionals.
Republic Airways Holdings Inc., through its auxiliaries, provides planned passenger services. The company offers planned passenger service on about 1,229 flights daily to about 101 cities in the U.S. and Canada.
Finally, CMS Energy Corporation (NYSE:CMS), ended its last trade with 0.31% gain, and closed at $35.30.
Consumers Energy honored Michigan International Speedway for its commitment to renewable energy, naming Michigan’s largest racetrack as its Green Generation Customer of the Year.
Officials from the racetrack and Consumers Energy, Michigan’s largest energy provider, made the declaration before the start of the Pure Michigan 400. A year ago, Michigan International Speedway became the largest participant to match 100 percent of its energy use with renewable sources through Consumers Energy’s Green Generation program.
“We are happy to recognize Michigan International Speedway for not just talking the talk when it comes to making Michigan a better place to live, but walking the walk,” said Garrick Rochow, Consumers Energy’s vice president and chief customer officer. “Our friends at MIS are reducing their energy use, supporting renewable energy, and planting the seeds – literally – for Michigan’s future.”
CMS Energy Corporation operates as an energy company primarily in Michigan, the United States. The company’s Electric Utility segment engages in the generation, purchase, distribution, and sale of electricity to residential, commercial, and various industrial customers in Michigan’s Lower Peninsula.
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