On Friday, Horizon Pharma PLC (NASDAQ:HZNP)’s shares declined -6.02% to $27.62.
Horizon Pharma PLC (HZNP) declared its first quarter 2015 financial results.
First Quarter 2015 Financial Results
Total net sales in the first quarter of 2015 were $113.1 million, contrast with $51.9 million in the first quarter of 2014, and representing 118 percent growth.
- Gross margins were 74 percent in the first quarter of 2015 contrast with 85 percent in the first quarter of 2014. On an Adjusted non-GAAP basis, gross margins were 91 percent in the first quarter of 2015 and 89 percent in the first quarter of 2014, not taking into account depreciation, intangible amortization, amortization of inventory step-up and royalty accretion, but counting royalties incurred during the quarter based on that period’s net sales for VIMOVO and ACTIMMUNE.
- Total operating expenses were $79.5 million in the first quarter of 2015, contrast to $42.7 million in the first quarter of 2014. The enhance in operating expenses reflects the enhances in research and development expenses, principally related to ACTIMMUNE, sales and marketing expenses primarily due to the expansion of our sales force for PENNSAID 2% together with other costs related to ACTIMMUNE and PENNSAID 2% and general and administrative expenses, principally due to the build out of infrastructure to support the Company’s growth. First quarter 2015 operating expenses comprised of $3.7 million of transaction-related expenses associated with the acquisitions of Vidara Therapeutics International plc, or Vidara, and Hyperion Therapeutics, Inc., or Hyperion.
Horizon Pharma plc, a specialty biopharmaceutical company, engages in identifying, developing, acquiring or in-licensing, and commercializing medicines for the treatment of arthritis, pain, inflammatory, and/or orphan diseases in the United States and internationally.
Merck & Co., Inc. (NYSE:MRK)’s shares gained 0.73% to $60.74.
Merck & Co., Inc. (MRK) known as MSD outside the United States and Canada, recently declared financial results for the first quarter of 2015.
Select Business Highlights
Worldwide sales were $9.4 billion for the first quarter of 2015, a decrease of 8 percent contrast with the first quarter of 2014, counting a 5 percent negative impact from foreign exchange and a 9 percent net unfavorable impact resulting from the divestiture of the Consumer Care business and select products, partially offset by the acquisition of Cubist Pharmaceuticals, Inc. (Cubist).
The following table reflects sales of the company’s top pharmaceutical products, in addition to total sales of Animal Health and Consumer Care products.
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
At the end of Friday’s trade, XOMA Corp (NASDAQ:XOMA)‘s shares surged 12.46% to $3.70.
XOMA Corp (XOMA) declared recent achievements and financial results for the first quarter ended March 31, 2015.
Recent Achievements
- One ocular exacerbation away from reaching the targeted number of exacerbations in the pivotal Phase 3 EYEGUARD-B clinical study of gevokizumab in Behcet’s disease uveitis.
- Servier, XOMA’s gevokizumab development partner, initiated a 370-patient Phase 2 study of gevokizumab in patients with diabetic nephropathy.
- Presented positive Phase 1 data from XOMA 358 at the ENDO Conference 2015. XOMA 358, a first-in-class, fully human, allosteric monoclonal antibody that down-regulates the insulin receptor, is being evaluated for the treatment of non-drug-induced, endogenous hyperinsulinemic hypoglycemia (low blood glucose caused by excessive insulin produced endogenously).
- Obtained a $20.0 million secured loan from Hercules Technology III, L.P., as lender, and associate of Hercules Technology Growth Capital, Inc., as agent. The Company used a portion of the proceeds to repay General Electric Capital Corporation’s outstanding principle balance and interest of $5.5 million. The remaining proceeds will be used for general corporate purposes.
- Renegotiated the terms of Servier’s loa contract.
Plasmatech Biopharmaceuticals Inc (NASDAQ:PTBI), ended its Friday’s trading session with 0.55% gain, and closed at $7.34.
Plasmatech Biopharmaceuticals Inc (PTBI) Earlier in the week, business magnate George Soros attained a 5% stake in the biotech company. Then it declared that PlasmaTech reached a definitive agreement to acquire Abeona Therapeutics, a Cleveland-based company engaged in the development and commercialization of therapies for patients with lysosomal storage diseases. Under the terms of the agreement, PlasmaTech will issue to Abeona Therapeutic members a total of 3,979,761 common shares upon closing of the transaction, and up to an additional $9 million in performance milestones, in common stock or cash, at the Company’s option. Additionally, Abeona’s CEO Tim Miller now takes the helm of CEO PTBI. BioMedReports sat down with Miller to inquire about his long term strategy for PlasmaTech.
PlasmaTech Biopharmaceuticals, Inc., a biopharmaceutical company, develops protein biologic therapies and oncology supportive care products. The company’s marketed product comprises MuGard the administration of oral mucositis; and ProctiGard for the treatment of radiation proctitis, a frequent side effect of radiation treatment to the pelvic region.
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