Shares of Synergy Pharmaceuticals Inc (NASDAQ:SGYP) ended Thursday session in red amid volatile trading. The shares closed down -0.07 points or -2.41% at $2.83 with 4.83 million shares getting traded. Post opening the session at $3.06, the shares hit an intraday low of $2.81 and an intraday high of $3.29 and the price vacillated in this range throughout the day. The company has a market cap of $386.66 million and the numbers of outstanding shares have been calculated to be 149.82 million shares.
Synergy Pharmaceuticals Inc (SGYP) on 5 May, 2016 announced that it has entered into definitive agreements with certain institutional investors to sell 29,948,334 shares of common stock at a price of $3.00 per share.
The shares were offered and sold directly to institutional investors by the company in a registered direct offering conducted without an underwriter or placement agent. The net proceeds from the offering, after deducting estimated offering expenses, will be approximately $89.7 million. The offering is expected to close on or about May 6, 2016.
Synergy intends to use the net proceeds from the offering to fund its commercialization activities for plecanatide, further clinical development of plecanatide and dolcanatide and for working capital and other general corporate purposes.
The securities described above were offered pursuant to a shelf registration statement (File No. 333-205484), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on July 14, 2015. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the SEC’s website at http://www.sec.gov.
Shares of Opko Health Inc. (NYSE:OPK) ended Thursday session in red amid volatile trading. The shares closed down -0.05 points or -0.51% at $9.75 with 3.62 million shares getting traded. Post opening the session at $9.82, the shares hit an intraday low of $9.65 and an intraday high of $9.85 and the price vacillated in this range throughout the day. The company has a market cap of $5.04 billion and the numbers of outstanding shares have been calculated to be 545.84 million shares.
Opko Health Inc. (OPK) on April 28, 2016 announced that it will release operating and financial results for the three months ended March 31, 2016, after the close of the U.S. financial markets on Monday, May 9, 2016.
OPKO’s senior management will provide a business update and discuss its results in greater detail in a conference call and live audio webcast at 4:30 p.m. Eastern time on Monday, May 9, 2016.
The conference call dial-in information is listed below. To access the webcast, please log on to the OPKO website at www.opko.com at least 15 minutes prior to the start of the call to ensure adequate time for any software downloads that may be required.
CONFERENCE CALL & WEBCAST INFORMATION
WHEN: Monday, May 9, 2016, 4:30 p.m. ET
DOMESTIC DIAL-IN: (866) 634-2258
INTERNATIONAL DIAL-IN: (330) 863-3454
PASSCODE: 2590322
For those unable to participate in the conference call or webcast, a replay will be available beginning May 9, 2016 at 7:30 p.m. ET until May 15, 2016 at 11:59 p.m. ET. To access the replay, dial (855) 859-2056 or (404) 537-3406. The replay passcode is: 2590322.
The replay can also be accessed for a period of time on OPKO’s website at www.opko.com.
Shares of Celgene Corporation (NASDAQ:CELG) ended Thursday session in green amid volatile trading. The shares closed up -0.81 points or -0.80% at $101.71 with 3.41 million shares getting traded. Post opening the session at $100.82, the shares hit an intraday low of $99.98 and an intraday high of $102.84 and the price vacillated in this range throughout the day. The company has a market cap of $77.01 billion and the numbers of outstanding shares have been calculated to be 774.60 million shares.
Celgene Corporation (CELG) on April 28, 2016 reported net product sales of $2,495 million for the first quarter of 2016. Net product sales grew 21 percent from the same period in 2015, including a 2 percent negative impact from currency exchange effects. First quarter total revenue increased 21 percent to $2,512 million compared to $2,081 million in the first quarter of 2015. Adjusted net income for the first quarter of 2016 increased 19 percent to $1,064 million compared to $891 million in the first quarter of 2015. For the same period, adjusted diluted earnings per share (EPS) increased 23 percent to $1.32 from $1.07.
Based on U.S. GAAP (Generally Accepted Accounting Principles), Celgene reported first quarter of 2016 net income of $801 million or $0.99 per diluted share. For the first quarter of 2015, net income was $719 million or $0.86 per diluted share.
“Our global teams generated excellent first quarter results and our strong operating momentum makes us confident that we will achieve or exceed our ambitious 2016 goals,” said Mark Alles, Chief Executive Officer of Celgene. “We are driving long-term value creation through the continued advancement of our innovative pipeline with significant clinical data expected over the next two years.”
First Quarter 2016 Financial Highlights
Unless otherwise stated, all comparisons are for the first quarter of 2016 compared to the first quarter of 2015. The adjusted operating expense categories presented below exclude share-based employee compensation expense and upfront collaboration expense. Please see the attached Reconciliation of GAAP to Adjusted Net Income for further information.
Net Product Sales Performance
- REVLIMID® sales for the first quarter increased 17 percent to $1,574 million. Growth was driven by increased market share in newly diagnosed multiple myeloma and increases in duration. U.S. sales of $997 million and international sales of $577 million increased 23 percent and 8 percent, respectively.
- POMALYST®/IMNOVID® sales were $274 million, a 38 percent increase year-over-year. U.S. sales of $171 million and international sales of $103 million increased 33 percent and 47 percent, respectively. POMALYST®/IMNOVID® sales were driven by increases in market share and duration trends.
- ABRAXANE® sales for the first quarter were $225 million, a 1 percent increase year-over-year. U.S. sales of $144 million and international sales of $81 million decreased 10 percent and increased 26 percent, respectively. The decrease in sales in the U.S. reflects quarterly customer buying patterns and increased competition in breast cancer and lung cancer from new market entrants.
- OTEZLA® sales in the first quarter were $196 million, a 224 percent increase year-over-year. Growth was driven by market share gains in the U.S. and Europe. U.S. sales were $175 million and international sales were $21 million.
- In the first quarter, all other product sales, which include THALOMID®, ISTODAX®, VIDAZA® and an authorized generic version of VIDAZA® drug product in the U.S., were $226 million compared to $230 million in the first quarter of 2015.