During Friday’s Morning trade, Shares of Mirna Therapeutics Inc (NASDAQ:MIRN), gained 1.46% to $6.25.
Mirna Therapeutics, stated financial results and recent highlights for the three and nine months ended September 30, 2015.
“I’m happy to report that Mirna made noteworthy clinical and operational progress in the quarter,” said President and CEO Paul Lammers, M.D., M.Sc. “We continued to advance the Phase 1 clinical trial of our lead product candidate MRX34, the first microRNA mimic to enter clinical development. Interim data from this study have shown effects on biological targets of miR-34 in addition to clinical benefits in various solid cancers, counting two confirmed partial responses in patients with Stage IV cancer with metastases. In addition, we have strengthened our leadership team with the addition of our Chief Scientific Officer and Chief Financial Officer, and raised over $65 million in public and private financings, leaving us well positioned to advance our pipeline of microRNA therapeutics.”
Mirna Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops microRNA-based oncology therapeutics. Its lead product candidate is MRX34, a mimic of naturally occurring microRNA-34 encapsulated in a liposomal nanoparticle formulation that is in Phase 1 clinical trial.
Shares of Quanta Services Inc (NYSE:PWR), inclined 0.97% to $20.87, during its current trading session.
Quanta Services, declared that company administration will present at the Baird 2015 Industrial Conference to be held November 9-11, 2015, in Chicago. Jim O’Neil, chief executive officer and Kip Rupp, vice president – investor relations, will present at the Baird 2015 Industrial Conference on Tuesday, November 10, 2015, at 2:00 p.m. Central time.
Quanta Services, Inc. provides specialty contracting services to the electric power, and oil and gas industries in North America and internationally. The company’s Electric Power Infrastructure Services segment provides network solutions comprising design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities.
Finally, Shares of Adamas Pharmaceuticals Inc (NASDAQ:ADMS), gained 4.02%, and is now trading at $15.77.
Adamas Pharmaceuticals, stated financial results for the third quarter of 2015. The company stated a net loss attributable to common stockholders of $14.9 million, or $0.81 per share, for the quarter ended September 30, 2015. In the same period last year, the company stated a net loss attributable to common stockholders of $9.6 million, or $0.57 per share. Adamas ended the current quarter with $132.6 million in cash, cash equivalents, and available-for-sale securities contrast to $158.7 million at December 31, 2014.
“We are advancing our ADS-5102 program, counting the Phase 3 studies for the treatment of levodopa-induced dyskinesia (LID) associated with Parkinson’s disease and enrolling patients in the ongoing Phase 2 trial in MS Gait,” stated Gregory T. Went, Ph.D., Chairman and Chief Executive Officer of Adamas. “With the enrollment of the EASE LID study complete, we look forward to finishing enrollment in EASE LID 3 and announcing top-line results from EASE LID. It is exciting to be pioneering a therapeutic treatment for LID as there are presently no approved medicines for this debilitating movement disorder.”
Fiscal 2015 Third Quarter and Nine-month Results
For the quarters ended September 30, 2015 and September 30, 2014, Adamas stated total revenue of $0.8 million and $0.2 million, respectively. Revenues for both periods comprised reimbursement of expenses associated with Adamas’ partnership with Forest Laboratories Holdings Limited (“Forest”) and government grants and contracts. Research and development expenses for the quarter ended September 30, 2015 were $10.0 million, counting $0.8 million in stock-based compensation expense, contrast to $5.4 million for the quarter ended September 30, 2014, which comprised $0.6 million in stock-based compensation expense. The improvement in research and development expenses was related to continued investment in the ADS-5102 clinical program. General and administrative expenses for the quarter ended September 30, 2015 were $5.8 million, counting $1.8 million in stock-based compensation expense, contrast to $4.4 million for the quarter ended September 30, 2014, which comprised $1.4 million in stock-based compensation expense. The improvement in general and administrative expenses was due primarily to higher headcount-related costs associated with expansion of the company’s capabilities as a public and pre-commercial company.
For the nine months ended September 30, 2015, the company stated a net loss attributable to common stockholders of $41.1 million, or $2.28 per share. For the nine months ended September 30, 2014, the company recorded net income attributable to common stockholders of $53,000, or $0.00 per share, during which period Adamas recorded as revenue a $25.0 million development milestone from Forest. For the nine months ended September 30, 2015 and September 30, 2014, Adamas stated total revenues of $1.4 million and $25.5 million, respectively. Research and development expenses for the nine months ended September 30, 2015 were $26.2 million, counting $2.3 million in stock-based compensation expense, contrast to $13.3 million for the nine months ended September 30, 2014, which comprised $1.7 million in stock-based compensation expense. General and administrative expenses for the nine months ended September 30, 2015 were $16.6 million, counting $4.9 million in stock-based compensation expense, contrast to $10.7 million for the nine months ended September 30, 2014, which comprised $3.2 million in stock-based compensation expense.
For the nine months ended September 30, 2015, Adamas’ $26.1 million net use of cash, cash equivalents and available-for-sale securities was influenced by the company’s payment of $4.7 million in income taxes in the first quarter of 2015. This was offset by the issuance of shares under the company’s at-the-market (ATM) offering program in June and July, which added $9.7 million in net proceeds to the cash balance stated during this period.
Adamas Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on the development and commercialization of therapeutics targeting chronic disorders of the central nervous systems. The company’s lead product candidate, ADS-5102 is in Phase 3 clinical development for the treatment of a movement disorder, known as levodopa-induced dyskinesia associated with Parkinsons disease. ADS-5102 is also in a Phase 2 clinical study for the treatment of symptoms associated with various sclerosis, counting walking impairment.