On Wednesday, Genesee & Wyoming Inc (NYSE:GWR)’s shares declined -0.25% to $75.56.
Genesee & Wyoming Inc. (G&W) (GWR) stated traffic volumes for July 2015.
Based on G&W’s noteworthy enhance in operations in the U.K. and continental Europe resulting from the acquisition of the London-based Freightliner Group Limited (Freightliner) in March 2015, G&W is now presenting traffic information in three reportable segments: North American Operations, Australian Operations and U.K./European Operations.
Historically, G&W has found that traffic information may be indicative of freight revenues on its railroads. Freight revenues are revenues for which G&W is paid on a per car, per container or per ton basis to move freight. Activities such as railcar switching, port terminal shunting, traction services and other similar freight-related services are excluded from our traffic information as the resulting revenues are not classified as freight revenue. Traffic information may not be indicative of total operating revenues, operating expenses, income from operations or net income.
G&W’s three reportable segments are summarized as follows:
- The North American Operations segment is comprised of nine operating regions in the U.S. and Canada. This segment represents about 57% of G&W’s total operating revenues and about 75% of G&W’s total income from operations.
- The Australian Operations segment is comprised of G&W’s existing operations in Australia and the newly-attained Freightliner Australia operations. This segment represents about 12% of G&W’s total operating revenues and about 14% of G&W’s total income from operations. Revenues from Freightliner’s Australia operations are not stated as freight revenues and therefore are not comprised of in this traffic report.
Genesee & Wyoming Inc. owns and operates short line and regional freight railroads, and provides railcar switching and other rail-related services. It operates in two segments, North American & European Operations and Australian Operations. The company transport various commodities, counting agricultural products, chemicals and plastics, metals, metallic ores, coal and coke, minerals and stones, pulp and paper, intermodal commodities, petroleum products, food and kindred products, autos and auto parts, wastes, and other commodities.
Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA)’s shares gained 4.06% to $22.53.
Momenta Pharmaceuticals, Inc. (MNTA) stated its financial results for the second quarter ended June 30, 2015.
For the second quarter of 2015, the Company stated total revenues of $44.9 million, compriseing primarily of product and milestone revenues regardingthe approval and launch of GlatopaTM (glatiramer acetate injection). Momenta stated a net loss of $(2.2) million, or $(0.04) per share for the second quarter contrast to a net loss of $(26.2) million, or $(0.51) per share for the same period in 2014. At June 30, 2015, the Company had cash, cash equivalents, and marketable securities of $377.2 million.
Second Quarter Highlights and Recent Events
Complex Generics:
GlatopaTM, generic version of daily COPAXONE® 20 mg (glatiramer acetate injection)
- On April 16, 2015, Glatopa was approved by the FDA as the first and only “AP-rated,” substitutable generic version of daily COPAXONE 20 mg.
- On June 18, 2015, the U.S. Court of Appeals for the Federal Circuit (CAFC) again found the remaining patent on daily COPAXONE 20 mg at issue in Teva’s infringement suit to be invalid.
- Sandoz launched Glatopa on June 18, 2015. In the second quarter of 2015, Momenta recorded $19.2 million in product revenues from Glatopa sales, net of a deduction of $9.0 million for reimbursement to Sandoz of the Company’s share of pre-launch Glatopa-related legal expenses.
Momenta Pharmaceuticals, Inc., a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for oncology and autoimmune diseases. The company’s complex generics programs comprise Enoxaparin sodium injection, a generic version of Lovenox that is used for the prevention and treatment of deep vein thrombosis, and to support the treatment of acute coronary syndromes; and M356, a generic version of Copaxone, which is a complex drug comprising of a synthetic mixture of polypeptide chains for the treatment of patients with relapsing-remitting multiple sclerosis.
At the end of Wednesday’s trade, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)‘s shares surged 1.23% to $141.48.
Vertex and the University of Massachusetts (UMass) declared the recipients of the nual Vertex Science Leaders Scholarshipa four-year scholarship to pursue their education in Science, Technology, Engineering and Math (STEM) at any UMass campus. The annual scholarship is part of a broad program developed by Vertex to enhance STEM education for Boston’s youth.
This year’s recipients are two students from Excel High School.
- Cankang Wu plans to study engineering g at UMass Amherst. Cankang emigrated with his family from China and will be the first to attend college. As a child he developed an early interest in engineering and technology after spending his days at his father’s wood-processing factory.
- Gladynel Baez will attend UMass Boston to study biology and has aspirations of becoming a doctor. She was inspired to pursue a career in science after losing two aunts and her grandfather to cancer and spending time in Vertex’s Learning Lab.
Vertex Pharmaceuticals Incorporated engages in discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases in specialty markets. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF); and advancing its research and early-stage development programs.
EnteroMedics Inc (NASDAQ:ETRM), ended its Wednesday’s trading session with -10.29% loss, and closed at $0.251.
EnteroMedics Inc. (ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, recently declared financial results for the three and six months ended June 30, 2015.
For the three months ended June 30, 2015, the Company stated its first U.S. sales of $79,000 with gross profits totaling $48,000. The Company stated a net loss of $7.4 million, or $0.10 per share, counting selling, general and administrative expenses of $4.9 million and research and development expenses of $2.5 million. For the six months ended June 30, 2015, the Company stated a net loss of $14.6 million, or $0.20 per share. Operating expenses were primarily associated with commercialization of the Company’s vBloc® Neurometabolic Therapy, counting marketing and reimbursement activities, the cost of supporting multiple ongoing clinical trials, and the continued development of vBloc Therapy delivered through the Company’s Maestro® Rechargeable System. On June 30, 2015, the Company’s cash, cash equivalents and short-term investments totaled $4.8 million. On July 8, 2015 the Company closed a public offering that generated net proceeds of about $14.7 million.
EnteroMedics Inc., a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. The company’s proprietary neuroblocking technology is designed to intermittently block the vagus nerve using electrical impulses. It develops the Maestro Rechargeable System, which is used to limit the expansion of the stomach, control hunger sensations between meals, reduce the frequency and intensity of stomach contractions, and produce a feeling of early and prolonged fullness.
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