On Thursday, Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), surged 6.30% to $2.87.
Advanced Micro Devices, declared revenue for the first quarter of 2015 of $1.03 billion, operating loss of $137 million and net loss of $180 million, or $0.23 per share. Non-GAAP(1) operating loss was $30 million and non-GAAP(1) net loss was $73 million, or $0.09 per share.
Q1 2015 Results:
Revenue of $1.03 billion, down 17 percent sequentially and 26 percent year-over-year.
- Gross margin of 32 percent, up 3 percentage points sequentially, primarily due to a lower of cost or market inventory adjustment in Q4 2014. Non-GAAP(1) gross margin of 32 percent, reduced 2 percentage points sequentially due to product mix and lower game console royalties in the first quarter.
- Operating loss of $137 million, contrast to an operating loss of $330 million for the preceding quarter, which comprised of a goodwill impairment and a lower of cost or market inventory adjustment in Q4 2014. Non-GAAP(1) operating loss of $30 million, contrast to non-GAAP(1)operating income of $52 million in Q4 2014, primarily due to lower revenue and gross margin.
- Net loss of $180 million, loss per share of $0.23, and non-GAAP(1) net loss of $73 million, non-GAAP(1) loss per share of $0.09, contrast to a net loss of $364 million, loss per share of $0.47 and non-GAAP(1) net income of $18 million, non-GAAP(1) earnings per share of $0.02 in Q4 2014.
- Cash, cash equivalents and marketable securities were $906 million at the end of the quarter, down $134 million from the end of the preceding quarter.
- Total debt at the end of the quarter was $2.27 billion, up $56 million from the preceding quarter.
Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company’s products primarily comprise x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs), and semi-custom System-on-Chip (SoC) products.
Shares of Northwest Biotherapeutics, Inc. (NASDAQ:NWBO), gained 6.18% to $9.10, during the last trading session on Thursday, hitting its highest level.
Northwest Biotherapeutics, declared that it has been included in the Loncar Cancer Immunotherapy Index (LCINDX), a professional index recently established to assist investors better track the immunotherapy field within the biotechnology space.
The Index founders have selected “the top 25 companies” in the immunotherapy space, counting 6 big pharma companies and 19 growth-oriented biotech companies. The Index is designed to capture the contributions of leading companies, both large and small, to the progress of the immunotherapy field. The Index presently ranks NW Bio 8th among the 25 companies included.
The Index is based upon the founders’ view that “immunotherapy is a transformational field within the biotechnology space” and that “areas like immunotherapy trade on their own unique circumstances and innovations.”
Northwest Biotherapeutics, Inc., a biotechnology company, discovers and develops immunotherapy products to treat cancer in the United States and internationally. It is involved in the development of DCVax, a platform technology that uses activated dendritic cells to mobilize a patient’s own immune system to attack cancer.
At the end of Thursday’s trade, Shares of Receptos, Inc. (NASDAQ:RCPT), gained 6.10% to $167.97.
Receptos, declared that the maintenance period of TOUCHSTONE, the Phase 2 trial of ozanimod (formerly RPC1063) in ulcerative colitis (UC), met all efficacy endpoints with statistical significance in patients on the 1 mg dose of ozanimod after 32 weeks of treatment. The overall safety and tolerability profile of ozanimod was consistent with the results of TOUCHSTONE’s induction period and those observed in the RADIANCE Phase 2 trial in relapsing multiple sclerosis (RMS), and continues to support the potential for orally administered ozanimod to significantly improve the treatment paradigm for UC patients.
This randomized, double-blind, placebo-controlled trial assessed the efficacy, safety and tolerability of two orally administered doses (0.5 mg and 1 mg) of ozanimod as compared to placebo in 199 patients with moderately-to-severely active UC across 57 sites in 13 countries. For the induction period, the trial met its primary efficacy and all secondary endpoints with statistical significance for patients on the 1 mg dose after 8 weeks of treatment. In the maintenance portion of the trial, 103 patients who had achieved clinical response at week 8 continued with treatment for an additional 24 weeks. The proportion of patients in clinical remission at week 32 as defined by the industry standard Mayo scoring criteria was statistically noteworthy in favor of both the 1 mg group and the 0.5 mg group (p < 0.05) contrast to placebo.
All secondary endpoints at week 32, counting clinical response, change in the Mayo score and mucosal improvement on endoscopy were also positive and statistically noteworthyfor the 1 mg dose. The detailed results of the maintenance period portion of the TOUCHSTONE trial are predictable to be presented at a major scientific meeting in the coming months.
Receptos plans to initiate a Phase 3 program in 2015 in patients with moderately-to-severely active UC to confirm these findings. In addition, these results continue to suggest the potential for ozanimod to be used in the treatment of Crohn’s disease, a related inflammatory bowel disease. Receptos plans to initiate a Phase 2 study of ozanimod for the treatment of Crohn’s disease in 2015.
Receptos, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics in immune disorders. Its lead product comprises ozanimod, an oral therapy that is in phase III studies for the treatment of relapsing multiple sclerosis; and is in phase II studies to treat ulcerative colitis and crohn’s disease.
Finally, Momenta Pharmaceuticals Inc. (NASDAQ:MNTA), ended its Thursday’s trading session with 6.09% gain, and closed at $17.08, hitting its highest level.
Momenta Pharmaceuticals, declared that the U.S. Food and Drug Administration has granted marketing approval of Sandoz’s Abbreviated New Drug Application for once daily Glatopa(TM) (glatiramer acetate injection, formerly M356) 20 mg/mL, a generic equivalent of daily COPAXONE(R) 20 mg. Glatopa is the first substitutable generic indicated for the treatment of patients with relapsing-forms of multiple sclerosis (RRMS), a chronic disease of the central nervous system characterized by inflammation and neurodegeneration. Glatopa was developed under a partnership contract between Momenta and Sandoz and is the second complex generic developed by Momenta together with Sandoz to receive FDA approval. Glatopa will be commercialized under the Sandoz brand.
Glatopa was determined by the FDA to be therapeutically equivalent to daily COPAXONE 20 mg, with the same active ingredients, route of administration, strength and dosage form. Glatopa’s high quality U.S.-based supply chain and manufacturing process meets rigid FDA standards, and Glatopa is fully substitutable at the pharmacy level. Glatopa is predictable to offer a more affordable treatment option for people living with RRMS.
Under the terms of its partnership contract with Sandoz, Momenta is eligible to receive up to $140 million in milestone payments upon the achievement of certain U.S. regulatory, commercial and sales-based milestones for Glatopa, counting a $10.0 million payment earned upon sole FDA approval of the ANDA, and another $10.0 million milestone payment upon first commercial sale.
Sandoz is presently evaluating launch timing.
Momenta Pharmaceuticals, Inc., a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for oncology and autoimmune diseases.
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