On Thursday, Following U.S. Stocks were among the “Top Losers”: AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX), EXCO Resources Inc. (NYSE:XCO), Spherix Incorporated (NASDAQ:SPEX), Biocept, Inc. (NASDAQ:BIOC)
AcelRx Pharmaceuticals Inc(NASDAQ:ACRX), with shares declined -11.32%, closed at $4.15.
EXCO Resources Inc(NYSE:XCO), with shares dropped -10.56%, settled at $1.44.
Spherix Inc(NASDAQ:SPEX), with shares dipped -10.31%, and closed at $0.87.
Biocept Inc(NASDAQ:BIOC), plummeted -9.43%, and closed at $2.88.
Latest NEWS regarding these Stocks are depicted underneath:
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX)
On March 9, AcelRx Pharmaceuticals, Inc. (ACRX), stated financial results for the three and twelve months ended December 31, 2014.
Fourth Quarter 2014 Financial Results:
Net loss for the fourth quarter of 2014 was $13.8 million, or $0.32 basic and diluted net loss per share, contrast to $17.8 million net revenue, or $0.41 basic net revenue per share and $0.39 diluted net revenue per share, for the fourth quarter of 2013.
Net loss in the fourth quarter as contrast to net revenue in the fourth quarter last year was primarily due to the receipt of a $30.0 million upfront payment under the partnership contract with Grunenthal, of which $27.4 million was recognized as proceed in the fourth quarter of 2013. In the fourth quarter of 2014, operating expenses of $12.0 million raised by $4.4 million from $7.6 million in the fourth quarter of 2013, primarily due to research and development activities to support resubmission of the Zalviso NDA, and an raise in headcount and related expenses in preparation for the potential commercialization of Zalviso.
Full Year 2014 Financial Results:
For the year ended December 31, 2014, AcelRx stated a net loss of $33.4 million, or $0.77 basic net loss per share and $0.91 diluted net loss per share, contrast to $23.4 million net loss, or $0.59 basic and diluted net loss per share for 2013.
Proceed for 2014 was $5.2 million, counting the receipt of a $5 million milestone payment from Grunenthal for the filing of the Marketing Authorization Application, or MAA, for Zalviso in Europe. Proceed for 2013 was $29.5 million mainly from the upfront payment received from Grunenthal for the partnership contract signed in December 2013.
Research and development expenses for 2014 were $24.5 million, contrast to $26.3 million for 2013. The decrease in research and development expense for 2014 was primarily due to a high level of activity associated with Phase 3 clinical studies of Zalviso in 2013. General and administrative expenses were $18.3 million for 2014, contrast to $9.9 million for 2013. The raise was primarily due to an raise in headcount, market research programs and other activities in preparation for the potential commercialization of Zalviso.
As of December 31, 2014, AcelRx had cash, cash equivalents and investments of $75.4 million, contrast to $103.7 million at December 31, 2013. The decrease in cash during the year was driven by cash used in operations and investing activities of $40.2 million, primarily offset by the $10.0 million drawdown of the second tranche of the loan contract with Hercules and receipt of $1.9 million from the exercise of stock options and purchase of stock under the employee stock purchase plan.
AcelRx Pharmaceuticals, Inc., a development stage specialty pharmaceutical corporation, focuses on the development and commercialization of therapies for the treatment of acute and breakthrough pain (BTP).
EXCO Resources Inc. (NYSE:XCO)
Formerly on February 24, EXCO Resources Inc. (XCO), declared fourth quarter and full year operating and financial results for 2014.
Financial results:
GAAP results comprised of net revenue of $81 million, or $0.30 per diluted share, for the fourth quarter 2014 contrast with net revenue of $42 million, or $0.15 per diluted share, for the third quarter 2014. The rise in net revenue was primarily due to volatility in commodity prices which resulted in higher unrealized gains on derivative contracts in the fourth quarter 2014. This was partially offset by lower proceeds in the fourth quarter 2014 due to a decrease in production and realized commodity prices.
GAAP results comprised of net revenue of $121 million, or $0.45 per diluted share, for the year ended 2014 contrast with net revenue of $22 million, or $0.10 per diluted share, for the year ended 2013. The rise in net revenue for the year ended 2014 was primarily due to higher proceeds from oil production in the Eagle Ford shale and higher realized natural gas prices. The volatility in commodity prices resulted in higher unrealized gains on derivative contracts. Also, we did not recognize any impairments of our oil and natural gas properties in 2014 contrast to $109 million of impairments in 2013. This was partially offset by lower natural gas production year over year.
Adjusted EBITDA for the fourth quarter 2014 was $81 million contrast with $94 million for the third quarter 2014. Adjusted EBITDA for the year ended 2014 was $391 million contrast with $418 million for the year ended 2013. Adjusted EBITDA is a non-GAAP measure and is computed using earnings before interest, taxes, depletion, depreciation and amortization, and is further adjusted for gains from asset sales, non-cash asset impairments, other non-cash revenue and expenses, and other items influencing comparability.
Adjusted net revenue (loss), a non-GAAP measure, was a loss of $0.02 per diluted share for the fourth quarter 2014 contrast with revenue of $0.01 per diluted share for the third quarter 2014. Adjusted net revenue was $0.06 per diluted share for the year ended 2014 contrast with $0.30 per diluted share for the year ended 2013. The non-GAAP adjustments comprise gains from asset sales, unrealized gains or losses from derivative financial instruments, non-cash asset impairments, items influencing comparability and other items typically not comprised of by securities analysts in published estimates.
Oil, natural gas and natural gas liquid (“NGL”) production was 31 Bcfe, or 340 Mmcfe per day, for the fourth quarter 2014 contrast with 33 Bcfe, or 358 Mmcfe per day, in the third quarter 2014. Fourth quarter 2014 production from the East Texas/North Louisiana region was 240 Mmcfe per day contrast with 242 Mmcfe per day in the third quarter 2014. The slight decrease in production in North Louisiana was primarily due to the timing of wells turned-to-sales, restricted flowback on recent wells turned-to-sales and normal production declines. This was partially offset by an raise in production in the Shelby area of East Texas to 47 Mmcfe per day in the fourth quarter 2014 contrast to 24 Mmcfe per day in the third quarter 2014. Fourth quarter production from the South Texas region was 566 Mboe, or 6 Mboe per day, contrast with 540 Mboe, or 6 Mboe per day in the third quarter 2014. The raise in production was primarily the result of additional production from wells connected to central production facilities which became operational during the fourth quarter 2014. The fourth quarter 2014 production in the Appalachia region averaged 55 Mmcfe per day contrast with 56 Mmcfe per day in the third quarter 2014. Fourth quarter 2014 production from Compass Production Partners, L.P. (“Compass”) was 747 Mmcfe preceding to the sale on October 31, 2014 contrast to 2,271 Mmcfe in the third quarter 2014. Oil, natural gas and NGL production was 136 Bcfe, or 372 Mmcfe per day, for the year ended 2014 contrast with 162 Bcfe, or 444 Mmcfe per day, for the year ended 2013. The decrease in year over year production was primarily the result of natural production declines in our East Texas/North Louisiana region and was partially offset by higher oil production from our South Texas region. The production declines in the East Texas/North Louisiana region were primarily the result of reduced development activities within this region contrast to periods preceding to 2013.
Oil, natural gas and NGL proceeds for the fourth quarter 2014 were $128 million contrast with $151 million for the third quarter 2014. Our average sales price per Mcfe reduced to $4.08 per Mcfe for the fourth quarter 2014 from $4.58 per Mcfe for the third quarter 2014. Our sales price per Mcfe was negatively influenced by lower market prices for oil and natural gas in the fourth quarter 2014 contrast to the third quarter 2014. When the influences of cash settlements from derivatives are considered, oil, natural gas and NGL proceeds were $141 million, or $4.51 per Mcfe for the fourth quarter 2014, contrast with $153 million, or $4.65 per Mcfe for the third quarter 2014. Oil, natural gas and NGL proceeds for the year ended 2014 were $660 million contrast with $634 million for the year ended 2013. The raise in proceeds is primarily due to higher natural gas prices and oil production from the Eagle Ford shale. This was partially offset by lower natural gas production. Our average sales price per Mcfe raised to $4.86 per Mcfe for the full year 2014 from $3.92 per Mcfe for the full year 2013. The raise in price was primarily due to higher natural gas prices and a higher percentage of our proceeds attributable to oil. When the influences of cash settlements from derivatives are considered, oil, natural gas and NGL proceeds were $641 million, or $4.72 per Mcfe for the full year 2014, contrast with $676 million, or $4.18 per Mcfe for the full year 2013.
Direct operating costs were $0.50 per Mcfe for the fourth quarter 2014 contrast with $0.43 per Mcfe for the third quarter 2014. The raise was primarily the result of higher direct operating costs per Mcfe associated with activities in the South Texas region related to the connection of wells to central production facilities and other operational initiatives to improve the efficiency of our production equipment. Direct operating costs were $0.47 per Mcfe for the year ended 2014 contrast with $0.38 per Mcfe for the year ended 2013. The raise in direct operating costs per Mcfe is primarily attributable to lower production in relation to certain fixed lease operating expenses. This was partially offset by the cost saving initiatives in our South Texas region which reduced direct operating costs per Mcfe in the region to $1.14 per Mcfe for the year ended 2014 from $1.85 per Mcfe for the year ended 2013.
EXCO Resources, Inc., an independent oil and natural gas corporation, engages in the attainment, exploration, exploitation, development, and production of onshore oil and natural gas properties with a focus on shale resource plays in the United States.
Spherix Incorporated (NASDAQ:SPEX)
Spherix Incorporated (SPEX), remained among the top losers stock of yesterday’s trade. The stock recently hit its new 52-week low of $0.75. This was the worst performance of the stock so far this year. However, if we take a look of its positivity then it lastly hit its 52-week high price of $5.00, on Mar 26, 2014. The stock carries the beta value of 3.56, showing that it’s a volatile stock. The stock holds the outstanding shares of 28.61M.
Spherix Incorporated operates as an intellectual property corporation that owns patented and unpatented intellectual properties. The corporation owns about 330 patents and patent applications.
Biocept, Inc. (NASDAQ:BIOC)
Biocept, Inc. (BIOC), a molecular oncology diagnostics corporation specializing in biomarker analysis of circulating tumor DNA (ctDNA) and circulating tumor cells (CTCs), declared the launch of its EGFR mutation detection testing utilizing a patient’s blood-based liquid biopsy. This innovative diagnostic has the potential to assist physicians identify which of their patients may be receptive to certain non-small cell lung cancer treatments.
The identification of these mutations in patients with advanced NSCLC can provide them with the opportunity to receive optimal targeted therapies, known as Tyrosine Kinase Inhibitors (TKIs). In the United States, there are two FDA-approved TKI therapies for patients with specific EGFR mutations: Erlotinib, marketed as Tarceva(R) by Genentech, Inc.; and Afatinib, marketed as Gilotrif(R) by Boehringher Ingelheim GmbH.
Lung cancer is the leading cause of cancer-related death among men and women. According to data from the National Cancer Institute in 2013, an estimated 228,190 Americans will be diagnosed with lung cancer, and 159,480 would die from the disease. About 85 percent of lung cancers are non-small cell lung cancers (NSCLC), making it the most ordinary type of lung cancer. EGFR gene mutations are present in the tumors of about 10 percent of NSCLC patients, with the majority of these gene mutations expressing EGFR in exon 19 deletions or exon 21 L858R substitutions.
Biocept, Inc., a cancer diagnostics corporation, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA tests utilizing a standard blood sample.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
