On Tuesday, Following Stocks were among the “Top 50 Losers” of U.S. Stock Market: Amarin Corporation plc (NASDAQ:AMRN), magicJack VocalTec Ltd. (NASDAQ:CALL), Discovery Laboratories Inc. (NASDAQ:DSCO), StemCells Inc. (NASDAQ:STEM)
Amarin Corporation plc (NASDAQ:AMRN), with shares declined -16.84%, closed at $2.37.
magicJack VocalTec Ltd. (NASDAQ:CALL), with shares dropped -14.20%, settled at $7.01.
Discovery Laboratories Inc. (NASDAQ:DSCO), with shares dipped -12.26%, and closed at $1.36.
StemCells Inc. (NASDAQ:STEM), plummeted -11.29%, and closed at $1.10.
Latest NEWS regarding these Stocks are depicted underneath:
Amarin Corporation plc (NASDAQ:AMRN)
On Monday, Amarin Corporation plc (AMRN), declared the presentation of findings from a new in vitro study showing that pretreatment with eicosapentaenoic acid (EPA), an omega-3 fatty acid, reduced oxidation of small dense LDL (sdLDL) and resulted in improved endothelial function when contrast to other triglyceride (TG)-lowering agents, counting fenofibrates, niacin and gemfibrozil. The research was presented recently at a peer-reviewed poster session at the American College of Cardiology Scientific Session in San Diego, California.
Endothelial cell dysfunction contributes to raised risk for atherosclerosis and heart disease and is characterized by reduced nitric oxide (NO) presence and raised production of the cytotoxic peroxynitrite anion, which can lead to an inflammatory response in blood vessels.
Endothelial cell dysfunction has been observed in patients with various cardiovascular risk factors, such as dyslipidemia and diabetes. In addition, evidence suggests that sdLDL is highly atherogenic and associated with plaque formation in human arteries as contrast to larger LDL particles; and oxidation of sdLDL further raises its atherogenicity.
Researchers found that EPA pretreatment protected sdLDL particles from oxidative damage, reducing sdLDL oxidation by >90% (p<0.001) as contrast with the absence of EPA treatment. When applied directly to human umbilical vein endothelial cells (HUVECs), the vehicle-treated oxidized sdLDL significantly reduced NO release by 20% as contrast with non-oxidized sdLDL. Following exposure to sdLDL that had been treated with EPA preceding to oxidation, however, HUVEC release of NO raised significantly by 53% and 23%, as contrast with treatment with oxidized sdLDL and non-oxidized sdLDL treatments, respectively. All of the other TG-lowering agents failed to inhibit sdLDL oxidation, and instead resulted in noteworthy reductions in NO release contrast to vehicle-treated oxidized sdLDL.
These data add to the formerly published studies indicating a unique and potent antioxidant effect for EPA on LDL particles and suggest that EPA treatment may also protect lipoproteins such as sdLDL from proatherogenic modification by oxidation and may also reduce oxidative stress in endothelial cells, potentially leading to beneficial effects on endothelial function. More study is needed and is being conducted to further explore these unique potential protective effects of EPA.
The study was supported by Amarin and led by a researcher at Brigham and Women’s Hospital in partnership with investigators at Elucida Research in Beverly, Massachusetts and Ohio University in Athens, Ohio.
Amarin Corporation plc, a biopharmaceutical corporation, focuses on developing and commercializing therapeutics for the treatment of cardiovascular diseases in the United States. Amarin’s product development program leverages its extensive experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids.
magicJack VocalTec Ltd. (NASDAQ:CALL)
On Monday, magicJack VocalTec Ltd. (CALL), a leading VoIP cloud-based communications corporation, declared that its Board of Directors has authorized a new share repurchase program under which the corporation may repurchase up to $20.0 million of its outstanding ordinary stock from time to time on the open market or in privately negotiated transactions. The corporation’s preceding $100 million repurchase program, following which $91.3 million of its outstanding ordinary stock was repurchased and $8.7 million remained authorized for repurchases has been terminated.
The repurchase program will be funded using magicJack’s working capital. As of December 31, 2014, magicJack had cash and cash equivalents of $75.9 million and about 17.8 million shares of ordinary stock outstanding.
magicJack VocalTec Ltd., together with its auxiliaries, operates as a cloud-based communications corporation that provides voice-over-Internet-Protocol (VoIP) services in the United States. With its easy-to-use, low cost solution for telecommunications, the Corporation has sold more than 10 million award-winning magicJack devices, now in its fourth generation, has millions of downloads of its free calling app, and holds more than 30 technology patents.
Discovery Laboratories Inc. (NASDAQ:DSCO)
On Monday, Discovery Laboratories Inc. (DSCO), a specialty biotechnology Corporation dedicated to advancing a new standard in respiratory critical care, declared financial results for the fourth quarter ended December 31, 2014, in addition to recent business updates. The Corporation hosted a conference call on Tuesday, March 17, 2015.
Key Financial and Business Updates
The Corporation stated a net loss of $10.6 million ($0.12 per basic share) on 85.4 million weighted-average ordinary shares outstanding for the quarter ended December 31, 2014, contrast to a net loss of $11.7 million ($0.16 per basic share) on 73.1 million weighted-average ordinary shares outstanding for the comparable period in 2013. Comprised of in the net loss is the change in fair value of certain ordinary stock warrants that are classified as derivative liabilities, resulting in non-cash revenue of $1.8 million and non-cash expense of $0.9 million for the quarters ended December 31, 2014 and 2013, respectively. For the quarter ended December 31, 2014, the Corporation stated an operating loss of $11.2 million contrast to $10.3 million for the comparable period in 2013.
Net cash outflows for the quarter ended December 31, 2014 were $10.2 million. As of December 31, 2014, the Corporation had cash and cash equivalents of $44.7 million.
The Corporation is planning to restructure its business to focus on the development of aerosolized KL4 surfactant for respiratory diseases starting with AEROSURF® for respiratory distress syndrome (RDS) in premature infants. With respect to SURFAXIN® (lucinactant) intratracheal suspension, the Corporation has made noteworthy cash investments to support manufacturing, quality systems, supply chain and distribution, marketing, medical and commercial activities. In 2014, cash outflows in support of such operating activities for SURFAXIN were about $19.0 million. The Corporation now believes that more of its capital and resources than formerly anticipated would have to be allocated to SURFAXIN to achieve broad market acceptance within an acceptable period. Therefore, the Corporation is actively pursuing, with the intention of promptly implementing, a planned alternative for SURFAXIN. The preferred alternative would be a potential planned alliance or partnership arrangement, but if an alliance or partnership arrangement cannot be implemented promptly, the Corporation would plan to cease the commercialization of SURFAXIN.
Enrollment in the ongoing AEROSURF phase 2a open label trial in 29 to 34 week GA infants (n=48) with respiratory distress syndrome (RDS) is proceeding in the third and final dose group. Enrollment in this phase 2a study is predictable to be accomplished by the end of the first quarter of 2015 or early second quarter of 2015 with results communicated shortly thereafter. The aim of this study is to assess: (1) the safety and tolerability of AEROSURF, (2) physiological evidence of delivery of aerosolized KL4 surfactant in the lung, and (3) performance of the Corporation’s proprietary aerosolization technology. Based on results to date in safety and tolerability, evidence suggesting delivery of surfactant to the lung, and performance of the aerosolization technology, the Corporation has initiated work to prepare to advance to the next phase of clinical evaluation to comprise 26 to 28 week GA infants, and has initiated startup activities, site selection and investments in devices and infrastructure to prepare for the planned phase 2b study in 26 to 32 week GA infants. The phase 2b study is predictable to be a multicenter trial conducted in select medical centers both within and outside the U.S. The primary objective of this trial will be to determine the optimal dose(s) and define the predictable efficacy margin. The Corporation anticipates the phase 2b study to conclude in 2Q 2016.
“Although we continue to believe that SURFAXIN has the potential to become the market-leading surfactant, we believe our existing capital is best used for the development of AEROSURF, which has the potential to revolutionize the administration of RDS and generate the greatest value for our stakeholders,” commented John G. Cooper, Discovery Labs’ President and Chief Executive Officer. “If successful with AEROSURF, we believe that we may be able to develop a pipeline of other aerosolized KL4 surfactant products, potentially to address other respiratory diseases where there are presently noteworthy unmet medical needs.”
Discovery Laboratories, Inc., a specialty biotechnology corporation, focuses on developing life-saving products for critical-care patients with respiratory disease and care in pulmonary medicine.
StemCells Inc. (NASDAQ:STEM)
On Monday, StemCells Inc. (STEM), a leading stem cell corporation developing and commercializing novel cell-based therapeutics for diseases of the central nervous system, offered a business update and stated financial results for the fourth quarter and year ended December 31, 2014.
Fourth Quarter and Full-Year Financial Results:
In the fourth quarter of 2014, we sold and accomplished the wind down of our partner’s (Stem Cell Sciences UK Limited) operations in Cambridge, UK, which comprises the SC Proven(R) reagent and cell culture business. We classified the historical results of this component as suspended operations in our Merged Statement of Operations. At December 31, 2014, the remaining assets and liabilities of the suspended operations comprised of in our Merged Balance Sheets are not significant. From the sale and wind-down of our SC Proven reagent and cell culture business, we received about $800,000 for certain business intellectual property rights, trade mark, records and licenses. For the disposal of these assets, we recorded a net loss on disposal of assets of about $111,000 in our Merged Statement of Operations. As a result of the disposition, we are no longer engaged in the business of marketing and selling specialized cell culture products and antibody reagents through the SC Proven product line.
For the fourth quarter of 2014, the Corporation stated a net loss of $10,108,000 from ongoing operations and a net loss of $141,000 from suspended operations for a total net loss of $10,249,000 or $(0.15) per share. In comparison, for the fourth quarter of 2013, the Corporation stated a net loss of $6,848,000 from ongoing operations and a net loss of $115,000 from suspended operations for a total net loss of $6,963,000, or $(0.13) per share.
Not including certain non-cash charges associated with stock based compensation, depreciation and amortization, impairment of intangible assets and changes in the fair value of our warrant liability, for the fourth quarter of 2014, the Corporation stated a non-GAAP net loss of $9,330,000 or $(0.14) per share. In comparison, for the fourth quarter of 2013, the Corporation stated a non-GAAP net loss of $8,887,000 or $(0.16) per share. Administration believes that these non-GAAP financial measures provide important insight into our operational results.
Total proceed from ongoing operations during the fourth quarter of 2014 was $883,000, contrast to $45,000 in the same period of 2013. Proceed from ongoing operations is primarily from royalties and milestone payments received under various licensing contracts. The raise in 2014 was primarily attributable to a milestone payment of about $500,000 received under a licensing contract with ReNeuron Ltd. and a licensing fee of about $400,000 in connection with our divestiture of the SC Proven business reached with Takara Bio Inc., a publicly traded Japanese corporation.
Total operating expenses from ongoing operations in the fourth quarter of 2014 were $10,612,000, contrast to $9,341,000 in the fourth quarter of 2013. The raised operating expenses were primarily attributable to the initiation of our Phase II controlled efficacy studies in SCI and expenses incurred to strengthen our product development and clinical operations capabilities.
Other expense, net in the fourth quarter of 2014 was $379,000, contrast to other revenue, net of $2,448,000 in the fourth quarter of 2013. In the fourth quarter of 2014, as part of our strategy to focus on our clinical operations, we wrote-off about $2,440,000 in goodwill and other intangible assets related to our suspended SC Proven business and other technology not related to our therapeutic product development programs. Other revenue, net in the fourth quarter of 2013 was primarily due to changes in the estimated fair value of our warrant liability.
For the full year 2014, the Corporation stated a net loss of $32,741,000, or $(0.53) per share, contrast with a net loss of $26,439,000, or $(0.61) per share, for 2013.
Not including certain non-cash charges associated with stock based compensation, depreciation and amortization, impairment of intangible assets and changes in the fair value of our warrant liability, for the full year 2014, the Corporation stated a non-GAAP net loss of $29,381,000 or $(0.48) per share. In comparison, for the fourth quarter of 2013, the Corporation stated a non-GAAP net loss of $26,024,000 or $(0.60) per share. The about $3,400,000 raise is primarily associated with raised levels of clinical activity. Administration believes that these non-GAAP financial measures provide important insight into our operational results.
Total proceed from ongoing operations in 2014 was $1,012,000 contrast to $172,000 for 2013. The raise in 2014 was primarily attributable to a milestone payment of about $500,000 received under a licensing contract with ReNeuron Ltd. and a licensing fee of about $400,000 in connection with our divestiture of the SC Proven business reached with Takara Bio Inc., a publicly traded Japanese corporation.
Total operating expenses in 2014 were $31,922,000, a 13% raise contrast to $28,265,000 in 2013. The raised operating expenses in 2014 reflects expenses to complete enrollment in our Phase I/II clinical trials for both SCI and AMD; expenses to initiate and dose the first patient in our Phase II controlled efficacy studies in SCI and expenses incurred to strengthen our product development and clinical operations capabilities.
Net other revenue / expense in 2014 was a net other expense of $1,351,000, while in 2013, it was net other revenue of $2,106,000. 2014 comprises a non-cash expense of $2.4 million in the fourth quarter for the impairment of intangible assets. Other revenue, net in the fourth quarter of 2013 was primarily due to changes in the estimated fair value of our warrant liability.
For the full year 2014, cash used in operations totaled $27,352,000, contrast to $23,322,000 in 2013.
At December 31, 2014, cash and cash equivalents totaled $24,988,000, which is 18% lower than the aggregate of cash and cash equivalents at December 31, 2013.
StemCells, Inc., a biopharmaceutical corporation, is engaged in the research, development, and commercialization of stem cell therapeutics, and related tools and technologies for stem cell-based research and drug discovery and development.
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