Lakeway, NY — (MARKET NEWS CALL) — 12/17/2014— thenextbigtrade.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Exelixis, Inc. (NASDAQ:EXEL), Alexion Pharmaceuticals, Inc.(NASDAQ:ALXN).
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)’s shares dropped 1.79% to $110.86. The company on Dec. 15 announced that David Altshuler, M.D., Ph.D., will join the company as Executive Vice President, Global Research and Chief Scientific Officer. Dr. Altshuler was one of the four founding members of the Broad Institute of Harvard University and the Massachusetts Institute of Technology, where he has served as Deputy Director and Chief Academic Officer since 2009. Dr. Altshuler is also currently a Professor of Genetics and Medicine at Harvard Medical School and an Adjunct Professor of Biology at the Massachusetts Institute of Technology and has been an attending physician at the Massachusetts General Hospital.
Exelixis, Inc. (NASDAQ:EXEL)’s shares dropped 3.68% to $1.31. The company on Dec. 15 announced its collaborator Genentech, a member of the Roche Group, has completed the filing of its New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) for cobimetinib, a specific MEK inhibitor discovered by Exelixis, in combination with vemurafenib for previously untreated patients with unresectable locally advanced or metastatic melanoma harboring a BRAF V600 mutation. Cobimetinib has received Fast Track designation by the FDA. Roche submitted a Marketing Authorization Application for the combination to the European Medicines Agency in September of this year.
Alexion Pharmaceuticals, Inc.(NASDAQ:ALXN)’s shares dropped 2.99% to $177.73. The company on Dec. 15 announced that the Company’s Board of Directors has authorized a new share repurchase program of up to $500 million. The new share repurchase program will take effect upon completion of the Company’s current program, which has approximately $22 million remaining of its previously authorized $400 million.
Under the program, purchases may be made from time to time on the open market, including through10b5-1 trading plans, or through privately negotiated transactions, block transactions, or other techniques, as determined by the Company’s management and in accordance with prevailing market conditions and the requirements of the Securities and Exchange Commission.
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.