On Wednesday Richmond Federal Reserve President Jeffrey Lacker stated a brief occurrence of upsetting economic information that has done little to alter his outlook for the U.S economy. Lacker, who voted for an interest rate increase in September against the majority of Fed policymakers who choose to keep rates steady, stated he has not decided on how he will vote at the Oct. 27th-28th meeting. Although he was not persuade much by a slowdown in job growth and weaker-than-expected retail sales in September. “It doesn’t change my outlook much,” he told Fox Business in an interview hopefully his stance doesn’t impact the value of biotech stock such as:
CASI Pharmaceuticals Inc (NASDAQ:CASI) is a public, biopharma company dedicated to certain therapeutics that focus on cancer and other unmet medical needs. In a recent announcement CASI Pharmaceuticals Inc (NASDAQ:CASI) revealed that its oncology drug candidate, ENMD-2076 received Orphan Drug designation from the European Medicines Agency for the treatment of hepatocellular carcinoma (HCC), including fibrolamellar carcinoma, a rare type of HCC. In the past 30 days beginning on September 15 to October 14th CASI has seen a large increase in price of 78.43%. This new designation gives CASI 10 years of market exclusivity in EU after ENMD-2076 receives marketing authorization there. The product was previously granted Orphan Drug designation for the treatment of HCC by US Food and Drug Administration last year and provides CASI with a 7-year market exclusivity in the country after its New Drug Application approval.
Global Equity International Inc (OTCBB:GEQU) through its wholly-owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most crucial decisions and opportunities dealing with growth, capital needs, structure and the development of a global presence. With locations in Dubai and London, Global Equity has built a strong relationships in the US, UK, Central Europe, the Middle East and South East Asia to help clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Global Equity International Inc (OTCBB:GEQU) Is very pleased to release the news about a strategic partnership agreement with the “Middle East Prospect Exhibition” (“MEPEX” -www.mepexonline.com), to work as their exclusive selected Financial Partner for capital raising, Advisory and Public Listings for all of the MEPEX participants. GEQU has seen a major price increase in the past 3 months of 1022.73% making them a penny stock to watch for shareholders invested in the biotech sector.
SCIVAC THERAPEUTICS INC (OTCMKTS:SVACF) Who’s headquarters are located in Rehovot Israel, is in the business of developing, manufacturing and promoting biological products for human healthcare. The Company’s flagship product, Sci‐B‐Vac™, is a recombinant 3rd generation hepatitis B vaccine. SCIVAC THERAPEUTICS INC (OTCMKTS:SVACF) announced that its wholly-owned subsidiary SciVac Ltd. has obtained the go-ahead from the Israeli Ministry of Health to progress further on all standard manufacturing,involving labeling and release of Sci-B-Vac(TM) to the market, following corrective actions to the automated labeling system and a overview of the Company’s facilities earlier in the month of September. SVACF is up from last Friday’s close increasing 13% following highs of $0.0195 on Tuesday. In past announcements, it was noted that Opko Health, Inc. (OPKO) had a 45% stake in SciVac. Sci-B-Vac has displaying a performance in 20+ company-sponsored or investigator- initiated trials, dealing with more than 5000 who have enrolled while also being administered to over 500,000 patients to date, with favorable safety and efficacy profiles according to company data.
Eanings Review: Rambus Inc. (NASDAQ:RMBS), Revlon Inc (NYSE:REV)
Revlon Inc(NYSE:REV) +2.5% after-hours after announcing that President and CEO Fabian Garcia is stepping down “to pursue other opportunities,” and Executive Vice Chair Paul Meister will oversee operations on an interim basis.
REV also says it expects Q4 revenues of $785M, below $801M from the year-earlier quarter but ahead of analyst consensus estimate of $743M, and a $60M-$80M net loss for the quarter due to a charge related to the recent tax law changes.
REV expects Q4 adjusted EBITDA of $110M-$115M vs. $115M analyst consensus.
CFO Chris Peterson also denies rumors that the company is considering a material asset transfer that would shield assets from lenders.
Rambus Inc.(NASDAQ:RMBS) shares are down 5.5% aftermarket following Q4 results that beat revenue estimates and met on EPS. In-line Q1 guidance (under ASC 605 accounting change) has revenue from $94M to $100M (consensus: $100.38M) and EPS from $0.17 to $0.23 (consensus: $0.18).
Revenue breakdown: Royalties, $77.9M (+10% Y/Y); Product, $8.5M (-27%); Contract and other revenue, $15.5M (+2%); Licensing billings, $76.6M (+18%).Key metrics: Non-GAAP operating margin, 31%; total operating expenses, $67.5M; cash and equivalents, $172.2M; cash flow from operations, $33.3M.
ADTRAN, Inc. (NASDAQ:ADTN) Hits New Lows After Issuing disappointing Earnings Forecast
ADTRAN, Inc.(NASDAQ:ADTN) slumped to a 52-week low after forecasting below consensus guidance for Q4, revising its revenue estimate downward to $125M from $155M-$165M earlier and seeing EPS of ~$0.01; analysts had expected EPS of ~$0.14 and revenue of $161.2M.
ADTN also projects Q1 to come in at roughly the same as Q4, misses analyst consensus of $167.5M.
CEO Tom Stanton says Q4 results have been hurt by a merger-related review, which ADTN expects to be completed in 60-90 days, and slowdown in the spending at a domestic Tier 1 customer.
MKM Partners analyst Michael Genovese believes the customer is CenturyLink (CTL -2%), which accounted for 24% of ADTN’s total sales in 2016.
The analyst thinks the weakness should prove temporary, adding that ADTN’s performance likely will accelerate into 2019 as the company stands to benefit from 5G spending; MKM trims its ADTN target price to $25 from $27 but keeps its Buy rating.
Big IPO Coming: Celator Pharmaceuticals Inc(NASDAQ:CPXX), Moleculin Biotech’s (MBRX)
Today at 10am Eastern, Moleculin Biotech ticker symbol MBRX will debut on the Nasdaq stock exchange and is being considered as one of the most highly anticipated IPO’s of 2016 by the street. The excitement and anticipation is arising from many experts saying that Moleculin Biotech’s (MBRX) drug annamycin is far superior to Celator Pharmaceuticals Inc(NASDAQ:CPXX) drug daunorubicin.
CPXX which has been bought out by Jazz Pharmaceuticals plc – Ordinary Shares(NASDAQ:JAZZ) for $1.5 Billion Dollars last week, share price ran from $1.6 to $31 in 2 months. Moleculin Biotech’s share structure is a 1.5m public float Priced at $6.