AgroFresh Solutions Inc (NASDAQ:AGFS)
During Tuesday’s Current trade, Shares of AgroFresh Solutions Inc (NASDAQ:AGFS), declined -34.57% to $4.70. The firm opened its current trade at $7.15, and as of now, it is trading at $4.66. The total volume traded for the day is 693,615.00 shares, as compared to its average daily volume of 151,433.00 shares. The stock is floating in a range of $4.61 - $7.15. The stock holds the market capitalization of $234.22M.
AgroFresh Solutions, Inc. declared financial results for the three and nine months ended September 30, 2015. AgroFresh became a stand-alone company upon closing of a transaction with The Dow Chemical Company (“Dow”) on July 31, 2015 (the “Business Combination”).
Highlights:
- Q3’15 Net Sales declined 0.4% and Adjusted EBITDA raised 7.5%, both on a constant currency basis as compared to the preceding year period
- Stated Q3’15 Net Sales were $61.8 million, Adjusted EBITDA was $44.5 million, and net loss was $16.5 million
- Year-to-Date Net Sales raised 5.6% and Adjusted EBITDA raised 11.4%, both on a constant currency basis, as compared to the preceding year period
- Stated Year-to-Date Net Sales were $112.3 million, Adjusted EBITDA was $62.5 million, and net loss was $28.1 million
- SmartFresh™ penetration raised for apples and other crops, further strengthening market position
- Successful stand-up of business as a stand-alone, independent company
- Continued strong focus on delivering healthy margins, well-managed cost structure, and strong cash flow
Thomas Macphee, Chief Executive Officer, commented, “We successfully launched AgroFresh as an independent public company on July 31st, making a seamless transition as we continued to execute on our strategy to drive profitable growth. Our performance in the third quarter reflected solid raised penetration of SmartFresh™ for apples and other crops. This is compriseent with both our growth strategy and our strong position with customers globally. While the smaller size of this year’s Northern Hemisphere apple crop is a headwind, our continued very strong profit margins and cash flow reflect an excellent start for AgroFresh.”
Margaret Loebl, Executive Vice President and Chief Financial Officer, added, “Our high margin structure and cash generation are key tenets of the AgroFresh business model and effective cost administration has contributed most specifically to the EBITDA growth in year-to-date 2015. Our confidence in our strategy and commitment to enhancing shareholder value was also reflected in the warrant repurchase program that we declared and, subsequent to the end of the third quarter, accomplished.”
Certain of the financial measures presented in the highlights and the sections that follow are non-GAAP financial measures. Please see the information and tables under “Non-GAAP Financial Measures” below for a description of these non-GAAP financial measures, and the tables at the end of this press release for a reconciliation of non-GAAP financial measures to GAAP results.
AgroFresh Solutions, Inc. provides data-driven specialty chemical solutions. Its solutions enable growers and packers of fresh produce to preserve and enhance the freshness, quality, and value of fresh produce.
SunLink Health Systems, Inc (NYSEMKT:SSY)
Shares of SunLink Health Systems, Inc (NYSEMKT:SSY), dipped -25.18% to $1.01, during its current trading session.
SunLink Health Systems, Inc. declared a loss from ongoing operations for its first fiscal quarter ended September 30, 2015 of $1,521,000 or a loss of $0.16 per fully diluted share, contrast to a loss from ongoing operations of $111,000 or a loss of $0.01 per fully diluted share, for the quarter ended September 30, 2014. Net loss for the quarter ended September 30, 2015 was $1,668,000, or a loss of $0.18 per fully diluted share, contrast to a net loss of $413,000, or a loss of $0.04 per fully diluted share, for the quarter ended September 30, 2014. The losses resulted primarily from lower inpatient volume and surgeries in the Healthcare Facilities Segment and the inability to reduce costs commensurate with the lower revenue.
Merged net revenues from ongoing operations for the quarters ended September 30, 2015 and 2014 were $20,472,000 and $22,376,000, respectively, a decrease of 8.5% in the current year’s first quarter. Healthcare Facilities Segment net revenues in the first quarter of 2016 of $12,683,000 reduced $2,097,000, or 14.2%, contrast to $14,780,000 for the comparable quarter of the preceding year due to lower inpatient volume and surgeries. The Specialty Pharmacy Segment revenues of $7,567,000 in the quarter ended September 30, 2015 raised $113,000, or 1.5%, over the comparable quarter of the preceding year due primarily to improvements in retail pharmacy and durable medical equipment sales.
The company had an operating loss from ongoing operations for the quarter ended September 30, 2015 of $1,759,000, contrast to an operating profit from ongoing operations for the quarter ended September 30, 2014 of $305,000. The operating profit reduced in the current year’s quarter primarily due to the lower Healthcare Facilities Segment net revenues.
SunLink Health Systems, Inc., through its auxiliaries, provides healthcare services in the United States. It operates through two segments, Healthcare Facilities and Specialty Pharmacy.
Sophiris Bio Inc (NASDAQ:SPHS)
Finally, Shares of Sophiris Bio Inc (NASDAQ:SPHS), dropped -16.79%, and is now trading at $1.94.
Sophiris Bio Inc. (SPHS), a biopharmaceutical company developing PRX302 (topsalysin) for the treatment of urological diseases, recently declared financial results for the three and nine months ended September 30, 2015.
At September 30, 2015, we had cash, cash equivalents and securities available-for-sale of $9.9 million and net working capital of $7.6 million. We expect that our cash, cash equivalents and securities available-for-sale as of September 30, 2015 will be sufficient to fund our operations through the end of April 2016 assuming that we do not initiate any additional clinical development of PRX302. We will need to obtain additional capital to fund a second Phase 3 clinical trial of PRX302 for the treatment of the symptoms of BPH and for any future clinical development of PRX302 for the treatment of localized prostate cancer beyond our ongoing Phase 2a proof of concept clinical trial.
For the three months ended September 30, 2015
The Company stated a net loss of $3.7 million ($0.22 per share) for the three months ended September 30, 2015 contrast to a net loss of $8.2 million ($0.49 per share) for the three months ended September 30, 2014.
Sophiris Bio, Inc., a clinical-stage biopharmaceutical company, focuses on the development of products for the treatment of urological diseases. The companys primary product candidate is PRX302, which is in Phase III clinical trial for treatment for the symptoms of benign prostatic hyperplasia (BPH), in addition to for the treatment of localized low to intermediate risk prostate cancer.
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