On Friday, Immunomedics, Inc. (NASDAQ:IMMU)’s shares inclined 6.25% to $1.87
Immunomedics, Inc. (IMMU) stated financial results for the fourth quarter and fiscal year ended June 30, 2015. The Company also highlighted recent key developments and planned activities for its clinical pipeline.
Fourth Quarter Fiscal 2015 Results
Total revenues for the fourth quarter of fiscal year 2015, which ended on June 30, 2015, were $2.4 million as contrast to total revenues of $1.2 million for the same quarter last fiscal year. The enhance of $1.2 million in total revenues this quarter was primarily due to a $1.0 million license fee revenue earned upon reaching a clinical milestone in the Company’s PartnershipAgreement, as amended, with Bayer (formerly Algeta ASA). There was no license fee revenue recorded in the same quarter last fiscal year.
Total costs and expenses for the current quarter were $13.6 million, as contrast to $13.1 million for the same period in 2014, representing an enhance of $0.5 million, or 4%. This enhance was driven primarily by $1.1 million higher research and development expenses from raised clinical trial cost for the Phase 3 PANCRIT-1 registration study of yttrium-90-labeled clivatuzumab tetraxetan for the therapy of patients with advanced pancreatic cancer, and raised product development and manufacturing expenses related to the expansion of clinical studies for the two antibody-drug conjugate (ADC) programs. The enhance in research and development expenses was partially offset by $0.4 million reduced general and administrative costs mainly from reduced legal and professional fees.
Immunomedics, Inc., a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune, and other diseases. The company is developing Yttrium-90-labeled clivatuzumab tetraxetan, which is in Phase III registration study used for the treatment of pancreatic cancer.
ABIOMED, Inc. (NASDAQ:ABMD)’s shares dropped -5.00% to $97.08.
Abiomed, Inc. (ABMD), a leading provider of breakthrough heart support technologies, declared recently that it has presented U.S Food & Drug Administration (FDA) pre-market approval (PMA) supplemental submissions requesting to expand Impella® 2.5 PMA approval to all of the Impella family of devices (Impella 2.5, Impella CP® and Impella 5.0/LD). The submissions are for a set of indications related to the use of the Impella devices in patients suffering cardiogenic shock following acute myocardial infarction or cardiac surgery. A request for a longer duration of support is also comprised of.
These submissions are projected as a supplement to the Impella 2.5 PMA approval for high risk percutaneous coronary intervention (PCI) received on March 23, 2015, and comprise analysis on 415 patients from the FDA study RECOVER 1 and the U.S. Impella registry, and a relevant Impella literature review that references 692 patients in 17 clinical studies. Additionally, over 24,000 Impella patients supported by Impella devices were reviewed in a safety analysis offered using the FDA/Medical Device Reporting (MDR) database. Through its review of the supplemental submission, the FDA will ultimately render a decision concerning the safety and efficacy of the Impella CP and the Impella 5.0 in the applied-for patient populations.
ABIOMED, Inc. researches, develops, and sells medical devices in circulatory support and continuum of care in heart recovery to acute heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; Impella CP that provides partial circulatory support using an extracorporeal bypass control unit; Impella 5.0 catheter and Impella LD, which are percutaneous micro heart pumps with integrated motors and sensors for use primarily in the heart surgery suite; and Impella RP, a percutaneous catheter-based axial flow pump.
At the end of Friday’s trade, Meritor Inc (NYSE:MTOR)‘s shares dipped -2.38% to $12.70.
Meritor, Inc. (NYSE: MTOR) continues to grow its aftermarket clutch offering by adding a self-adjusting 15.5″ model to its current Euclid® line for medium- and heavy-duty trucks.
Customers can purchase the new clutch, which comprises 15.5″ x 2″ models with seven springs or nine springs in four- and six-paddle options, from warehouse distributors stocking Euclid-branded parts. All units are new with no core charge. The clutch offers end users a 24-month/unlimited mileage warranty against defects in material and workmanship.
Unique features of the self-adjusting model comprise:
- New over-adjustment prevention technology
- Patent-pending Actively Expanding Seal (AES) provides anti-contamination enclosure
- Self-locking worm gear to ensure positive adjustment
- Installation employing the same procedure used for installing manually adjusted clutches
- Simple reset procedure (if required) that does not require clutch removal
Meritor, Inc. designs, develops, manufactures, sells, markets, distributes, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors.
BCE Inc. (USA) (NYSE:BCE), ended its Friday’s trading session with 0.76% gain, and closed at $41.48.
BCE Inc. (BCE) declared that it has sold its 15% equity position in the Globe and Mail Inc. to The Woodbridge Company Limited, the primary investment vehicle for members of the Thomson family of Canada and majority owner of the Globe. Terms of the transaction were not revealed.
George Cope , President and Chief Executive Officer of BCE and Bell Canada stated that they thank Woodbridge for their partnership and support over the years and wish them the very best in taking Canada’s national newspaper forward.
BCE Inc., a telecommunications and media company provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through Bell Wireless, Bell Wireline, and Bell Media segments. The company offers data, local, long distance, and other communications services under the Bell Home Phone brand; direct-to-home satellite TV services under the Bell TV name; Internet protocol (IP) TV services under the Bell Fibe TV brand; and competitive local exchange carrier (CLEC) services.
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