Insights about U.S. Stocks from mix sectors that landed in the Green-Zone in the course of Tuesday’s trade, are depicted underneath:
Keryx Biopharmaceuticals (NASDAQ:KERX)’s shares picked up 5.08%, and closed at $ 13.04, during the last trading session, soon after the news release that a biopharmaceutical corporation focused on bringing innovative therapies to market for patients with renal disease, formerly on February 27, declared its financial results for the fourth quarter and year ended December 31, 2014. The Corporation ended 2014 with $85.8 million in cash, cash equivalents, interest receivable and investment securities. In January 2015, Keryx accomplished an underwritten public offering of ordinary stock, which offered proceeds to the Corporation of about $118.3 million, net of underwriting discounts and offering expenses.
Fourth Quarter and Year Ended December 31, 2014 Financial Results:
At December 31, 2014, the Corporation had cash, cash equivalents, interest receivable and investment securities of $85.8 million, as contrast to $55.7 million at December 31, 2013. Subsequent to December 31, 2014, the Corporation accomplished an underwritten public offering of ordinary stock, which offered proceeds to the Corporation of about $118.3 million, net of underwriting discounts and offering expenses of about $8.2 million.
The net loss for the fourth quarter ended December 31, 2014 was $40.3 million, or $0.44 per share, contrast to a net loss of $17.7 million, or $0.21 per share, for the comparable quarter in 2013, representing an raise in net loss of $22.6 million. For the fourth quarter ended December 31, 2014, research and development expenses reduced by $4.7 million to $5.8 million, as contrast to $10.5 million for the three months ended December 31, 2013, due primarily to the capitalization of inventory during the fourth quarter of 2014, as opposed to expensing the inventory-build in the preceding quarter in 2013. For the fourth quarter ended December 31, 2014, selling, general and administrative expenses raised by $26.8 million to $34.1 million, as contrast to $7.3 million for the three months ended December 31, 2013, primarily related to a $12.6 million raise in pre-commercial/commercial activities and associated personnel costs in preparation for the commercialization of Auryxia and a $10.9 million raise in non-cash stock-based compensation expense primarily related to the vesting of milestone-based stock options and restricted shares upon the first commercial sale of Auryxia, in addition to to raised selling, general and administrative personnel and the recording of the fair value of equity awards granted, which are expensed over the vesting periods of the individual awards.
The net loss for the year ended December 31, 2014 was $111.5 million, or $1.23 per share, contrast to a net loss of $46.7 million, or $0.58 per share, for the comparable period in 2013, representing an raise in net loss of $64.8 million. In February 2014, the Corporation received a $10.0 million milestone payment from its Japanese partner for ferric citrate, JT & Torii, related to the manufacturing and marketing approval of ferric citrate in Japan in January 2014. For the year ended December 31, 2014, research and development expenses raised by $16.8 million to $51.5 million, as contrast to $34.7 million for the year ended December 31, 2013, primarily due to a $12.7 million raise in expenses associated with the manufacturing of pre-approval inventory and the submission of our Marketing Authorization Application (MAA) filing, a $4.0 million raise in non-cash stock-based compensation expense primarily related to the vesting of milestone-based equity grants upon the FDA approval of Auryxia, in addition to $5.0 million of milestone payments due to the licensor of Auryxia related to the regulatory approvals of Auryxia in the U.S. and Japan. Selling, general and administrative expenses raised by $50.7 million to $70.1 million for the year ended December 31, 2014, as contrast to $19.3 million for the year ended December 31, 2013, primarily related to a $24.3 million raise in pre-commercial/commercial activities, counting associated personnel costs, in preparation for the commercialization of Auryxia, and a $17.0 million raise in non-cash stock-based compensation expense primarily related to the vesting of milestone-based stock options and restricted shares upon FDA approval and the first commercial sale of Auryxia, in addition to to raised selling, general and administrative personnel and the recording of the fair value of equity awards granted, which are expensed over the vesting periods of the individual awards.
Keryx Biopharmaceuticals, Inc., a biopharmaceutical corporation, focuses on the attainment, development, and commercialization of pharmaceutical products for the treatment of renal disease in the United States. It is developing Zerenex (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate in the gastrointestinal tract and form non-absorbable complexes.
Lumber Liquidators Holdings Inc (NYSE:LL) raised 5.02%, and closed at $40.78, soon after the largest specialty retailer of hardwood flooring in North America, supported several educational organizations across America within the past year through its Lay It Forward philanthropic program. Counting cash and product, the Corporation donated nearly $100,000 to education related causes.
Benefiting organizations comprise Williamsburg (Va.) Montessori School, Pocono (Pa.) Environmental Education Center, Philadelphia Academies Inc., Thomas Nelson Community College (Va.), National Braille Press (Boston), Warhill (Va.) High School and A Child’s Song (Colo.).
Robert M. Lynch, President and Chief Executive Officer, commented, “Lay It Forward centers on investing in people and organizations that will benefit communities for generations. Education fits this vision well and has become one of the program’s natural focus areas.”
Lumber Liquidators Holdings, Inc., together with its auxiliaries, operates as a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories. It primarily offers solid and engineered hardwood products; laminate floorings; bamboo floor products, cork floorings, and vinyl plank flooring; wood flooring moldings; butcher block kitchen countertops, and staircase treads and risers; and accessories, such as sealers, adhesives, and under-layments, in addition to flooring tools and floor cleaning supplies.
PharMerica Corporation (NYSE:PMC), enhanced 5.00%, and closed at $27.29, soon after the news release that a national provider of institutional, specialty home infusion, hospital and oncology pharmacy services, declared that it has reached a new wholesale drug distribution contract with Cardinal Health, Inc. (CAH), an Ohio-based health care services corporation.
The new contract will take effect on April 1, 2015 and extend through June 2018. As part of the contract, Cardinal Health will assume responsibility for the sourcing and distribution of branded and generic pharmaceuticals for PharMerica.
“We are happy to declare this exciting new partnership, and we look forward to working closely with Cardinal Health,” said Greg Weishar, PharMerica Corporation’s Chief Executive Officer. “PharMerica is known for providing superior, high-quality pharmacy services and this partnership equips us to further drive service to our customers throughout the country.”
PharMerica Corporation operates as an institutional pharmacy services corporation in the United States. The corporation offers services to healthcare facilities; pharmacy administration services to hospitals; specialty infusion services to patients outside hospitals; and oncology pharmacy services. It purchases, repackages, and dispenses prescription and non-prescription pharmaceuticals in accordance with physician orders and delivers such medication to healthcare facilities for administration to individual patients and residents.
Alcoa Inc (NYSE:AA), rose 1.54%, and closed at $15.18, soon after the news release that Alcoa Inc. declared that it has accomplished the attainment of privately held TITAL. Alcoa closed the transaction, which was declared on December 15, 2014, after receiving all of the required global regulatory approvals.
TITAL is a leading manufacturer of titanium and aluminum structural castings for aircraft engines and airframes. This attainment strengthens Alcoa’s ability to capture growing demand for advanced aircraft engine components, in particular, those made of titanium. TITAL establishes titanium casting capabilities in Europe for Alcoa, and expands the Corporation’s aluminum casting capacity. Additionally, TITAL’s strong connections to European engine and aircraft manufacturers such as Airbus, SNECMA, and Rolls-Royce, will enhance Alcoa’s customer relationships in the region and beyond.
Alcoa is implementing a robust integration plan to support TITAL’s growth and to further improve productivity, primarily driven by procurement, internal metal supply, manufacturing optimization and leveraging Alcoa’s global shared services. TITAL’s business is being integrated into Alcoa’s Engineered Products and Solutions (EPS) segment.
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The corporation operates through four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. The Alumina segment is involved in mining bauxite, which is then refined into alumina. The Primary Metals segment produces primary aluminum.
