During Thursday’s afternoon trade, Shares of MannKind Corp. (NASDAQ:MNKD), surged 24.77% to $2.77.
MannKind Corporation (MNKD.TA) (MNKD.TA) recently declared that its shares will enter the following Tel Aviv Stock Exchange, or TASE, indexes as planned on November 15, 2015: TA-100, TA-75, TA-Composite, TA-Biomed, TA-Blue-Tech and TA-Tech-Elite.
The Company is reconfirming its expectation of concluding a formerly-declared registered direct offering of its common stock to selected investment funds in Israel that are required to hold securities comprised within certain stock indexes of the TASE. The final number of shares to be sold in the offering will be determined based upon the number of shares the purchasers are required to hold within the indexes, and subject to the purchasers’ desired allocation amounts.
MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes in the United States. Its lead product is AFREZZA inhalation powder, an insulin to control high blood sugar in adult patients with type 1 and type 2 diabetes. MannKind Corporation was founded in 1991 and is headquartered in Valencia, California.
Shares of LiqTech International, Inc. (NYSEMKT:LIQT), inclined 20.75% to $1.28, during its current trading session.
LiqTech International, declared its financial results for the three and nine months ended September 30, 2015.
Financial highlights for the three months ended September 30, 2015
- Net sales for the three months ended September 30, 2015 were $6.9 million, contrast to $4.9 million for the same period in 2014, representing an improvement of $2.0 million or 40.8%. Our results this year have been significantly influenced by currency translation effects. As a result, third quarter 2015 net sales at constant currency were 85% higher than last year. The improvement in net sales was primarily driven by an improvement in sales of membranes and systems of $1.3 million and an improvement in sales of diesel particulate filters of $0.8 million. The improvement in sales of membranes and systems was a result of raised order inflow in the first 9 months that is now starting to materialize into revenue. The improvement in sales of our diesel particulate filters was primarily driven by raised sales activities in China.
- Gross profit for the three months ended September 30, 2015 was $2.3 million contrast to $1.5 million in the same period of 2014, representing an improvement of $0.8 million or 53.3%. Gross profit margin was 33.4% contrast to 29.8% in the same period of the preceding year. The improvement in gross profit was primarily driven by higher sales activities contrast to the same period in 2014. The improvement in gross margin was primarily driven by higher sales of membranes and systems that carry a higher gross margin than our other products. Comprised in gross profit is depreciation of $0.4 million and $0.4 million for the three months ended September 30, 2015 and 2014, respectively.
- Net profit attributable to LiqTech for the three months ended September 30, 2015 was $0.621 million, contrast to $0.347 million in the same period last year, representing an improvement of $0.274 million or 79.0%.
LiqTech International, Inc., a clean technology company, provides technologies for the gas and liquid purification by manufacturing ceramic silicon carbide filters. It manufactures and sells ceramic silicon carbide membranes and systems for liquid filtration under the LiqTech, Cometas, and Provital brand names that are used for the filtration of produced water, pre-filtration of reverse osmosis drinking water, ballast water and waste water treatment, and various industrial applications, in addition to for producing clean drinking water.
Finally, Eyegate Pharmaceuticals, Inc. (NASDAQ:EYEG), surged 23.84%, and is now trading at $4.
Eyegate Pharmaceuticals, declared financial results for the three months ended September 30, 2015 and offered an update on recent planned and operational initiatives.
Third Quarter and Recent Business Highlights:
Accomplished public offering of common stock and warrants generating net proceeds of $8.8 million
Stated interim data from Phase 1b / 2a trial of EGP-437 in macular edema, suggesting that iontophoresis can non-invasively deliver drug to the back of the eye;
Received USPTO Notice of Allowance for two key patents regardingproprietary dexamethasone phosphate formulation and next generation iontophoretic delivery system
Signed exclusive, worldwide licensing agreement with partner of Valeant Pharmaceuticals International, Inc. (VRX) (VRX) for EGP-437 in the field of uveitis
Third Quarter 2015 Financial Review
Net loss for the third quarter of 2015 was $1.4 million, contrast with net income of $0.3 million in the third quarter of 2014.
Research and development expenses for the quarter totaled $0.4 million contrast with $0.1 million in the third quarter of 2014. The improvement in research and development expense was attributable to an improvement in clinical activity, namely the resumption of the Company’s Phase III clinical trial for the treatment of anterior uveitis and Phase I/II clinical trial for the treatment of macular edema.
Eyegate Pharmaceuticals, Inc., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing therapeutics and drug delivery systems for treating eye diseases. The company is developing EGP-437 that has accomplished Phase III clinical trials for the treatment of non-infectious anterior uveitis, a form of intraocular inflammation of the anterior portion of the uvea.