On Wednesday, in the course of current trade, Shares of TetraLogic Pharmaceuticals Corporation (NASDAQ:TLOG), dropped -29.10%, and is now trading at $2.68, hitting its lowest level.
Today, TetraLogic Pharmaceuticals declared that it has temporarily halted enrollment in the birinapant chronic hepatitis B multiple ascending dose trial, presently being conducted in Australia, due to cranial nerve palsies observed in the first cohort.
TetraLogic Pharmaceuticals Corporation, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics in oncology and infectious diseases. TetraLogic has two clinical-stage product candidates in development: birinapant and SHAPE. Birinapant is presently being tested in Phase 1 and Phase 2 clinical trials for hematological malignancies and solid tumors, and is also being tested in a Phase 1b/2a clinical trial in hepatitis B. SHAPE is presently being tested in a Phase 2 clinical trial for early-stage cutaneous T-cell lymphoma.
During an Afternoon trade, Shares of Anadigics, Inc. (NASDAQ:ANAD), dipped -26.28%, and is now trading at $0.96.
ANADIGICS, stated first quarter 2015 net sales of $18.4 million, a sequential decrease of 11.7% and in line with preceding guidance.
GAAP net loss for the first quarter of 2015 was $5.0 million, or ($0.06) per diluted share, a sequential improvement of 7.6%. Non-GAAP net loss for the first quarter of 2015 was $3.8 million, or ($0.04) per share, representing a sequential improvement of 18.6%.
As of April 4, 2015, cash and cash equivalents totaled $17.0 million, or net cash of $13.0 million, after not taking into account $4.0 million drawn under the Company’s credit facility.
“We are very happy with the 23.3% sequential enhance in Infrastructure revenues in the first quarter. The resulting financial performance was enabled by our ongoing planned shift to an Infrastructure business model,” said Ron Michels, chairman & CEO. “While we anticipate some near-term market headwinds in Infrastructure, we believe this will be temporary, and our current outlook for long-term growth remains positive.”
“In line with our continued migration to a leaner Infrastructure business model, we are implementing the next phase of cost improvement measures designed to match our supply capability with demand,” said Terry Gallagher, executive vice president and CFO. “These actions are predictable to enable a more streamlined operating structure that lays the foundation for ANADIGICS’ long-term improvement.”
ANADIGICS, Inc. designs, manufactures, and sells radio frequency (RF) semiconductor solutions for infrastructure and mobile communications, and data transmission markets. The company’s product portfolio comprises line amplifiers, reverse path amplifiers, front-end integrated circuits (FEICs), and power amplifiers (PAs). Its CATV solutions comprise of line amplifiers, reverse path amplifiers, and other RF products that provide the critical link within CATV infrastructure communications networks, in addition to CPE devices, such as set-top boxes and cable modems.
Shares of Ardelyx, Inc. (NASDAQ:ARDX), during its Wednesday’s current trading session fell -24.47%, and is now trading at $8.24, hitting its lowest level.
Ardelyx, declared that a 154-patient Phase 2a clinical trial evaluating tenapanor in Stage 3 chronic kidney disease patients with type 2 diabetes mellitus and albuminuria did not meet the primary endpoint of decreasing the urinary albumin-creatinine ratio in tenapanor-treated patients contrast to patients receiving placebo.
Ardelyx formed a partnership with AstraZeneca in October 2012 to develop and commercialize tenapanor. Tenapanor has been evaluated in over 1,000 subjects as part of 14 clinical trials in healthy volunteers and in patients with constipation-predominant irritable bowel syndrome (IBS-C), hyperphosphatemia and chronic kidney disease (CKD). With the completion of the CKD trial, Ardelyx and AstraZeneca are assessing the data from all the trials. Under the terms of the agreement, AstraZeneca is obligated to communicate to Ardelyx, on or before June 29, 2015, whether it will continue the development of tenapanor. Should AstraZeneca decide to pursue the development of only the IBS-C indication, Ardelyx will be entitled to a milestone payment of $10 million. Should AstraZeneca decide to pursue the development of any other indication or multiple indications, Ardelyx will be entitled to receive a $20 million milestone payment.
Ardelyx, Inc. discovers, develops, and commercializes minimally-systemic small molecule therapeutics for the gastrointestinal (GI) tract to treat cardio-renal, GI, and metabolic diseases. Its lead product candidate is tenapanor, a small molecule NHE3 inhibitor, which has accomplished Phase 2b clinical trial for the treatment of patients with constipation-predominant irritable bowel syndrome and hyperphosphatemic patients with chronic kidney disease on dialysis, in addition to Phase 2a clinical trial in patients with late-stage chronic kidney disease.
Finally, Town Sports International Holdings Inc. (NASDAQ:CLUB), lost -20.12% Wednesday.
Town Sports International Holdings, declared its results for the first quarter ended March 31, 2015.
First Quarter Overview:
- Total member count raised 21,000 to 505,000 during Q1 2015 contrast to a decrease of 1,000 in Q1 2014.
- Membership monthly attrition averaged 3.7% per month in Q1 2015 contrast to 3.5% per month in Q1 2014.
- Revenue was $111.4 million in Q1 2015, a decrease of 3.9% contrast to Q1 2014.
- Comparable club revenue reduced 3.5% in Q1 2015 contrast to a decrease of 4.7% in Q1 2014.
- Adjusted EBITDA was $6.8 million in Q1 2015 contrast to $14.1 million in Q1 2014.
- Net loss was $12.8 million in Q1 2015, which comprised of a non-cash fixed asset impairment charge of $1.1 million and a separation accrual related to our former Executive Chairman of $1.3 million. These charges did not have any tax effect due to the impact of the Company’s tax valuation allowance in Q1 2015. This compares to net loss of $3.5 million in Q1 2014, which comprised of a non-cash fixed asset and goodwill impairment charge of $3.8 million ($2.1 million, net of taxes).
- Loss per share was $0.52 in Q1 2015, which comprised of loss per share of $0.05 for a non-cash fixed asset impairment charge and $0.05 for a separation accrual related to our former Executive Chairman. Loss per share in Q1 2014 was $0.15, which comprised of loss per share of $0.09 for a non-cash fixed asset and goodwill impairment charge.
- Cash collected for fees paid at the time of member enrollment in Q1 2015 raised $8.4 million from the preceding-year period related to an enhance in these join fees per membership in addition to an enhance in memberships sold. Our cash position was $110.8 million for a net debt level of $196.7 million contrast to a net debt level of $214.8 million as of December 31, 2014.
Town Sports International Holdings, Inc., together with its auxiliaries, owns and operates fitness clubs in the Northeast and Mid-Atlantic regions of the United States. It offers special purpose rooms for group fitness classes; and other exercise programs, in addition to accommodates cardiovascular and strength-training equipment.
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