U.S. stocks were down marginally in midday exchanging Monday as let oil costs dragged down energy shares, pulling the Dow and S&P 500 off late record levels.
The S&P 500 lost 4.56 points, or 0.22 percent, to 2,105.74
The Dow Jones modern normal fell 49.8 points, or 0.27 percent, to 18,090.64,
Oil costs fell, with WTI crude off $1.30 at $49.50 a barrel on oversupply concerns and a stronger dollar, pushing the S&P energy file down 0.6 percent.
Oil fell as fields in eastern Libya continued pumping to Hariga port after a pipeline was repaired, by run National Oil Corp. Oman, the greatest Middle Eastern oil maker that is not an individual from OPEC, is boosting crude yield to however much as could reasonably be expected with the worldwide value defeat over, said Salim Al Aufi, undersecretary of the oil and gas service.
Details about those biotech sector stocks that landed the red-zone during yesterday’s trade, are depicted underneath:
Aoxing Pharmaceutical Company, Inc. (NYSE:AXN)’s shares plunged -30.77%, and closed at $1.35, during the last trading session, as a specialty pharmaceutical company, formerly declared its financial and operational results for the quarter ended December 31, 2014.
Proceeds in the second quarter raised 85% year over year to $6.4 million while cost of sales reduced 20% year over year to $1.6 million. Gross profit for the second quarter was $4.8 million, representing a 75% gross margin, and an raise of 233% as contrast to the same quarter last year.
- Net profit for the second quarter was $0.6 million instead of a net loss of $1.9 million for the same quarter last year.
- Net cash generated from operating activities for the six months ended December 31, 2014 was $3.4 million contrast to the use of $2.8 million cash in operations for the period ended December 31, 2013.
- Basic and diluted revenue per ordinary share were both $0.01 for the second quarter as contrast to net loss of ($0.04) per basic and diluted share for the same quarter last year.
Aoxing Pharmaceutical Company, Inc. (NYSE:AXN), is a US incorporated specialty pharmaceutical company with its operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-administration products.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), plummeted -15.82%, and closed at $6.28, hitting new 52-week low of $5.65, as a biotechnology company, recently declared that an overview of the Company’s business strategy and commercial and development-stage programs will be given at the 2015 RBC Capital Markets’ Global Healthcare Conference being held at The New York Palace Hotel in New York City. The Company presentation is on Tuesday, February 24, 2015, at 9:30 AM ET.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), is a leading biotechnology company focused on acquiring, developing, and commercializing drug products, with a primary focus in oncology and hematology. Spectrum and its associates market five oncology drugs─ FUSILEV® (levoleucovorin) for Injection in the U.S.; FOLOTYN® (pralatrexate injection), also marketed in the U.S.; ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use, for which the Company has worldwide marketing rights; MARQIBO® (vinCRIStine sulfate LIPOSOME injection) for intravenous infusion, for which the Company has worldwide marketing rights and BELEODAQ® (belinostat) for Injection in the U.S. Spectrum’s strong track record in in-licensing and acquiring differentiated drugs, and expertise in clinical development have generated a robust, diversified, and growing pipeline of product candidates in advanced-stage Phase 2 and Phase 3 studies.
Enzo Biochem Inc. (NYSE:ENZ), dipped -12.29%, and closed at $2.57, hitting new 52-week low of $2.51, as an integrated life sciences and biotechnology company, formerly on February 10, declared the development of a new novel platform with consequential and broad application for detection of genotypic and phenotypic markers via flow cytometry, in addition to the first product for its use addressing the cervical cancer testing market.
The platform, FlowScript™, allows for the multiplex analysis of cell function and identity in a single assay through the simultaneous examination of thousands of individual cells.
The Enzo HPV E6/E7 assay, the first product developed for use with the FlowScript technology platform, addresses the $1 billion cervical cancer testing market. It enables the identification of certain upregulated oncogenes that can be indicative of cancer progression, allowing closer monitoring of patients exhibiting this condition. The new Enzo assay is designed to establish association between the expression of oncogenes and the progression of cervical cancer across a number of high risk HPV subtypes.
Enzo Biochem Inc. (NYSE:ENZ), is a pioneer in molecular diagnostics, leading the convergence of clinical laboratories, life sciences and therapeutics through the development of unique diagnostic platform technologies that provide numerous advantages over previous standards.
Vanda Pharmaceuticals, Inc. (NASDAQ:VNDA), declined -7.87%, and closed at $10.53, as a biopharmaceutical company, formerly declared financial and operational results for the fourth quarter and full year ended December 31, 2014.
Key Highlights:
HETLIOZ® net product sales in the U.S. grew to $6.0 million in the fourth quarter of 2014, a 15% raise, contrast to $5.2 million in the third quarter of 2014. HETLIOZ® net product sales were $12.8 million for the full year 2014.
Since the U.S. commercial launch of HETLIOZ® in April 2014, over 760 new patient prescriptions have been written counting over 220 in the fourth quarter of 2014. As of December 31, 2014, over 470 patients had initiated HETLIOZ® treatment and over 330 patients were on active treatment reflecting a cumulative persistence rate of about 70%.
The HETLIOZ® Marketing Authorization Application in the European Union (EU) is under review with a regulatory decision predictable in the third quarter of 2015.
Tasimelteon life cycle administration activities are ongoing and comprise a Smith-Magenis Syndrome observational study with results predictable in the first half of 2015 and preparations for a clinical development program for pediatric Non-24.
HETLIOZ® exclusivity in the U.S. is protected by orphan exclusivity and two patents listed in the FDA Orange Book (Orphan exclusivity expiry in 2021; Patent No. 5,856,529 expiry predictable in 2022 and Patent No. 8,785,492 expiry in 2033).
Fanapt® (iloperidone)
Fanapt® royalty proceed was $1.6 million for the fourth quarter of 2014, contrast to $1.7 million in the third quarter of 2014. Fanapt® royalty proceed was $6.5 million for the full year 2014, contrast to $7.1 million for 2013.
For the full year 2014, Fanapt® U.S. net product sales were $65.0 million, as stated by Novartis AG (Novartis). Fanapt® U.S. prescriptions for the fourth quarter of 2014 were about 40,500, as stated by IMS.
On December 31, 2014, the Fanapt® U.S. and Canadian rights were returned to Vanda as part of the settlement of arbitration with Novartis.
Fanapt® exclusivity in the U.S. is protected by two patents listed in the FDA Orange Book (Patent No. RE39198 expiry in 2016 and Patent No. 8,586,610 expiry in 2027).
VLY-686 (tradipitant)
Results of the Phase II study (2101) of tradipitant, an NK1 receptor antagonist, in patients with chronic pruritus are predictable in the first quarter of 2015.
Vanda Pharmaceuticals, Inc. (NASDAQ:VNDA), is a biopharmaceutical company focused on the development and commercialization of products for the treatment of central nervous system disorders.
