On Wednesday, Shares of Novavax, Inc. (NASDAQ:NVAX), added 17.24% and closed at $1.70 in the last trading session. The last trading range of the stock ranges between $1.44 and $1.70. The company’s Market capitalization is $454.75 million with the total Outstanding Shares of 271.19 million. Novavax, Inc., (NVAX) recently declared its financial results for the third quarter and nine months ended September 30, 2016, in conjunction with its Shareholder and Analyst Day update.
The Company presented a restructuring plan designed to meet the following key objectives:
Prioritize development activities to achieve clinical data events within 2017;
Reduce cash burn, extend financial horizon and minimize near-term dilution; and
Maintain operational core competencies to execute development plans.
The restructuring includes an immediate reduction in workforce of about 30%. The Company anticipates to incur one-time restructuring costs of about $3 million to $4 million, counting severance expenses, in the fourth quarter of 2016. In addition, administration has initiated expense reduction measures regardingpre-commercialization activities, capital equipment investments, project specific and general research and development, and general and administrative expenses. As a result of the restructuring, Novavax estimates a reduction in cash burn of $70 million to $100 million in 2017 relative to 2016.
Technical Analysis: During the 52-week trading session the minimum price at which share price traded, registered at $1.16 and reached to max level of $9.23. The EPS of company is strolling at -0.99.
Shares of IAMGOLD Corp (USA) (NYSE:IAG), jumped 1.16% and closed at $4.35 in the last trading session. The last trading range of the stock ranges between $4.19 and $4.66. The company’s Market capitalization is $2.11 Billion with the total Outstanding Shares of 450.70 million. IAMGOLD Corporation (“IAMGOLD” or the “Company”) recently reports its financial and operating results for the quarter ended September 30, 2016.
“We had strong third quarter results, with net earnings increasing $102 million and net operating cash flow increasing $117 million from the same period last year,” said Steve Letwin, IAMGOLD President and CEO. “Comparing results to the second quarter, net earnings rose $29 million and net operating cash flow raised by $55 million. Gold production raised by 7% from the second quarter to 210,000 ounces and all-in sustaining costs were reduced by $68 an ounce to $1,046 an ounce. Essakane’s performance was stellar, with production up 17% and all-in sustaining costs at $815 an ounce, and Rosebel’s performance optimization programs are transforming the operation. Lower operating costs are a major reason for reducing our merged cash costs guidance for 2016 to $740 – $770 an ounce.
Technical Analysis: During the 52-week trading session the minimum price at which share price traded, registered at $1.15 and reached to max level of $5.87. The EPS of company is strolling at -1.58.