On Friday, Shares of Apache Corporation (NYSE:APA), lost -3.23% to $47.68.
Apache Corporation, declared third-quarter 2015 financial and operational results on its website, www.apachecorp.com. There will be a conference call to discuss the results at 1 p.m. Central time.
The conference call will be webcast live from the website, and the webcast replay will be archived there as well. The conference call will be available for delayed playback by telephone for one week starting at about 4 p.m. Central time on Nov. 5.
Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, and the Texas Panhandle, Gulf Coast areas of the United States, in addition to in Western Canada.
Shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), inclined 11.79% to $10.05, during its last trading session.
Achillion Pharmaceuticals, stated financial results for the three and nine months ended September 30, 2015. For the third quarter of 2015, Achillion stated a net income of $26.3 million or $0.19 per share, contrast with a net loss of $15.7 million or $0.16 per share for the third quarter of 2014. Cash, cash equivalents, marketable securities, and interest receivable as of September 30, 2015 were $476 million.
Third Quarter Results
For the three months ended September 30, 2015, Achillion stated a net income of $26.3 million contrast with a net loss of $15.7 million during the same period of 2014.
During the third quarter, Achillion and Janssen Pharmaceuticals, Inc. (Janssen), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, accomplished the closing of the partnershipproviding Janssen with an exclusive, worldwide license to develop and, upon regulatory approval, commercialize HCV products and regimens containing one or more of Achillion’s HCV assets. Assuming successful development and commercialization, Achillion is eligible to receive up to $905 million in clinical, regulatory and commercialization milestone payments. Achillion is also eligible to receive tiered royalty percentages between mid-teens and low-twenties based upon future worldwide sales. Janssen is responsible for all of the development costs within the partnershipand all subsequent costs related to commercialization of the HCV assets. Achillion received $225 million from Johnson & Johnson Innovation – JJDC, Inc. following the issuance of 18,367,346 shares of Achillion at a price of $12.25 per share.
Achillion recognized in the third quarter of 2015 revenue of $33.8 million under the Janssen Agreement, representing a portion of the premium paid by JJDC associated with its equity purchase of Achillion common stock which is being recognized over the 180-day technology transfer period. No revenue was recognized during the three months ended September 30, 2014.
Research and development expenses were $12.0 million for the three months ended September 30, 2015, contrast with $12.1 million for the same period of 2014. The improvement was primarily due to raised preclinical and manufacturing costs related to our complement inhibitor program and raised manufacturing costs related to ACH-3422. These amounts were partially offset by reduced clinical trial costs related to our odalasvir and sofosbuvir combination trial and ACH-2684 clinical and manufacturing costs. Personnel and non-cash stock-based compensation costs also raised due to the addition of personnel in our development group.
Achillion Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes anti-infective drug therapies in the United States and internationally. It focuses on developing combination therapies for the treatment of chronic hepatitis C (HCV) infection and drug-resistant bacterial infections.
Finally, Shares of Tenet Healthcare Corp (NYSE:THC), ended its last trade with 5.12% gain, and closed at $35.34.
Tenet Healthcare Corporation, will take part in the Credit Suisse 24th Annual Healthcare Conference in Scottsdale, Ariz. on Tuesday, November 10, 2015. Members of senior administration will speak at the conference at about 10:00 a.m. ET (8:00 a.m. MT).
Tenet Healthcare Corporation, a healthcare services company, primarily operates acute care hospitals and related healthcare facilities in the United States. It operates through two segments, Hospital Operations and Other, and Conifer. The company’s general hospitals offer acute care services, operating and recovery rooms, radiology services, respiratory therapy services, clinical laboratories, and pharmacies.