On Tuesday, Shares of Akorn, Inc. (NASDAQ:AKRX), subtract -1.23% and closed at $20.01 in the last trading session. The last trading range of the stock ranges between $19.66 and $20.62. Akorn, Inc. (AKRX), a leading specialty generic pharmaceutical company, recently declared its financial results for the third quarter of 2016.
Akorn stated net revenue of $284 million for the third quarter 2016, an 11% increase from the third quarter 2015.
GAAP net income for the third quarter 2016 was $48 million, or $0.38 per diluted share, contrast to GAAP net income of $48 million, or $0.39 per diluted share, for the same quarter of 2015. Counting a net adjustment of $22 million to net income for non-GAAP items, adjusted diluted earnings per share for the third quarter 2016 were $0.56, contrast to $0.56 in the same quarter 2015, after a net adjustment of $22 million to net income for non-GAAP items.
Raj Rai, Akorn’s Chief Executive Officer, commented, “We are happy with our third quarter results. We remain focused on investing in our company to support future growth endeavors through expansion of our research and development capabilities, modernization of our plants, expansion of our capacities and technology enhancements.”
AEterna Zentaris Inc. (USA)(NASDAQ:AEZS), dropped -7.14% and closed at $3.25 in the last trading session. The last trading range of the stock ranges between $3.25 and $3.45. The company’s Market capitalization is $32.21 million with the total Outstanding Shares of 9.94 million. Aeterna Zentaris Inc. (AEZS) (AEZ.TO) (the “Company”), a specialty biopharmaceutical company engaged in developing and commercializing novel treatments in oncology and endocrinology, recently stated financial and operating results for the third quarter ended September 30, 2016.
Commenting on recent key developments, David A. Dodd, President and Chief Executive Officer of the Company, stated, “On September 30, 2016, we had unrestricted cash and cash equivalents of about $21.1 million. After the end of Q3, we concluded a financing transaction that secured our financial condition on the eve of our completion of two pivotal Phase 3 trials. We raised $7.56 million of gross proceeds from the sale of Common Shares, Pre-funded Warrants and Warrants in a registered direct offering on November 1, 2016. Also between September 14, 2016 and October 14, 2016, we raised about $2.3 million of gross proceeds from the sale of 580,912 Common Shares following our ATM program. Since October 14, 2016, our ATM program has not been utilized. Therefore, we believe we have the funds necessary to complete our two pivotal clinical trials, to report top-line results on both and to file a New Drug Application for Macrilen™ in the first half of 2017, if the results of the trial warrant doing so. While we will need to raise additional funds before we are able to bring a product to market, we expect that reporting favorable top-line results from one or both of our clinical trials will permit us to do so on favorable terms.”
On the otherhand Infinera Corp. (NASDAQ:INFN), gained 2.46% and closed at $7.90 in the last trading session. The last trading range of the stock ranges between $7.61 and $8.19. During the 52-week trading session the minimum price at which share price traded, registered at $7.23 and reached to max level of $22.85. Infinera Corporation (INFN), a provider of Intelligent Transport Networks, declared that it will take part in the following webcasted shareholder conference:
2016 Wells Fargo Technology, Media & Telecom Conference
Date: Thursday, November 10, 2016
Presentation: 1:35pm ET / 10:35am PT
Speakers: Ashoka Valia, Senior Vice President of Business Development; Jeff Hustis, Director of Shareholder Relations
Webcast: shareholders.infinera.com and click on “Events”