On Friday, Keryx Biopharmaceuticals (NASDAQ:KERX)’s shares declined -3.1% to $10.33.
Keryx Biopharmaceuticals (KERX) declared its financial results for the first quarter ended March 31, 2015.
First Quarter 2015 Business Highlights
- For the quarter ended March 31, 2015, Keryx stated total revenue of about $1.2 million, counting net U.S. Auryxia product revenue and license revenue associated with royalties received on sales of Riona(R) (ferric citrate) in Japan. The Company recognized U.S. product sales based on 1,218 prescriptions filled for Auryxia during the quarter, based on data received from IMS Health and specialty pharmacies that don’t report data to IMS, counting Davita Rx and Fresenius Rx.
- In January 2015, Keryx accomplished an underwritten public offering of common stock, which offered proceeds to the Company of about $118.3 million, net of underwriting discounts and offering expenses. Keryx ended the first quarter with $168.8 million in cash and cash equivalents. Additionally, the Company ended the first quarter with about $27.2 million of inventory on its merged balance sheet, primarily comprising of Auryxia active pharmaceutical ingredient.
Keryx Biopharmaceuticals, Inc., a biopharmaceutical company, focuses on providing therapies for patients with renal disease in the United States. Its lead product Auryxia (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, in addition to treats iron deficiency anemia.
Rentech, Inc. (NASDAQ:RTK)’s shares dropped -2.65% to $1.10.
Rentech, Inc. (RTK) declared financial and operating results for the three months ended March 31, 2015.
Three months ended March 31, 2015
Merged revenues for the first quarter of 2015 were $105.6 million, contrast to $82.3 million in the preceding year period. These revenues were comprised of:
- $22.7 million from Fulghum, a decrease of $3.4 million from the preceding year period;
- $12.1 million from NEWP;
- $1.7 million from Wood Pellets: Industrial; and
- $69.2 million from Rentech Nitrogen, an enhance of $12.9 million from the preceding year period.
Gross profit for the first quarter of 2015 was $24.3 million, contrast to $17.9 million in the preceding year period. Gross profit was comprised of:
- $3.7 million from Fulghum, which was a decrease of $0.4 from the preceding year period;
- $2.2 million from NEWP;
New England Wood Pellet
Revenues were $12.1 million, counting $1.2 million from the Allegheny mill, for the first quarter of 2015 on deliveries of 63,000 tons of wood pellets. Gross profit was $2.2 million and gross profit margin was 18%. Adjusted EBITDA was $2.3 million, and net income was $1.1 million.
Rentech, Inc., through its auxiliaries, provides wood fiber processing services, wood chips, and wood pellets. The company operates through five segments: East Dubuque; Pasadena; Fulghum Fibres; Wood Pellets: Industrial; and Wood Pellets: NEWP. It manufactures and sells natural-gas based nitrogen fertilizer products in North and South America.
At the end of Friday’s trade, MannKind Corporation (NASDAQ:MNKD)‘s shares dipped -2.38% to $4.52.
MannKind Corporation (MNKD) declared that James S. Shannon, MD, MRCP (UK) has been elected to the company’s Board of Directors after formerly serving as a director from February 2010 until April 2012. The addition of Dr. Shannon brings the total number of MannKind Board members to eight.
From May 2012 until his retirement in April 2015, Dr. Shannon was the Chief Medical Officer of GlaxoSmithKline. He formerly held the position of Global Head of Pharma Development at Novartis AG, based in Basel, Switzerland from 2005 until 2008. After joining Sandoz in 1994 as Head of Drug Regulatory Affairs, Dr. Shannon led of the Integration Office for R&D overseeing the creation of the Novartis R&D groups from those of Ciba-Geigy Ltd and Sandoz. Following the merger he was designated Head of the Cardiovascular Planned Team and subsequently became Global Head of Project Administration before being designated Global Head of Clinical Development and Medical Affairs in 1999, a position that he held until 2005 when he was designated to Head Pharma Development. Between 2008 and joining GSK, Dr. Shannon served on the boards of a number of companies, counting Biotie, Circassia, Crucell, Endocyte and MannKind. He also sat on the board of Cerimon Pharmaceuticals where he held the position of interim Chief Executive Officer and President from January 2009 until April 2010. He first entered the pharmaceutical industry in 1987 joining Sterling Winthrop Inc., working initially in Europe and subsequently in the USA, where he held positions of increasing responsibility in the administration of research and development ultimately serving as Senior Vice-President, Clinical Development. Dr. Shannon is trained in Medicine and Cardiology. He received his undergraduate and postgraduate degrees at Queen’s University of Belfast and is a Member of the Royal College of Physicians (UK).
MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes in the United States.
NeoStem Inc (NASDAQ:NBS), ended its Friday’s trading session with -2.37% loss, and closed at $2.88.
NeoStem Inc (NBS) declared that it will receive one of the largest research grants of its kind to support its pioneering treatment for patients with stage III recurrent or stage IV metastatic melanoma, a potentially breakthrough approach that teaches the immune system which cells to attack and kill.
The $17.7 million grant from the California Institute for Regenerative Medicine (CIRM), a distinguished and independent scientific body, is a noteworthyendorsement of the potential for NeoStem’s novel approach for treating metastatic melanoma, the most deadly form of skin cancer. The sheer scope of the award has important implications as it is predictable to fund a noteworthyportion of the pivotal Phase 3 clinical trial investigating a personalize
NeoStem, Inc., a clinical-stage biopharmaceutical company, develops cell based therapeutics in the United States. It is developing NBS20, a targeted cancer immunotherapy product that is in Phase III clinical trials for the treatment of metastatic melanoma; NBS10, a ischemic repair product that is in Phase II clinical trial to preserve heart muscle function following an acute myocardial infarction; and NBS03D, an immune modulation product that is in Phase II clinical trials for the treatment of type 1 diabetes. The company, through its partner, Progenitor Cell Therapy, offers process development and clinical manufacturing services.
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