Shares of Biostar Pharmaceuticals Inc (NASDAQ:BSPM) closed at $2.05 with 28,945.00 shares getting traded. Post opening the session at $2.09, the shares hit an intraday low of $2.02 and an intraday high of $2.11 and the price vacillated in this range throughout the day. The company has a market cap of $4.58 million and the numbers of outstanding shares have been calculated to be 2.21 million shares.
Biostar Pharmaceuticals Inc (BSPM) on Aug. 22, 2016 announced its financial results for the second quarter ended June 30, 2016.
During the fiscal second quarter of 2016, the Company recognized:
- Net sales of $0.6 million, a decrease of approximately $13.6 million, or 95.6% as compared to the same period in 2015.
- Gross profit decreased by approximately $5.6 million, or 95.0% for the three months ended June 30, 2016 as compared to the same period in 2015.
- Sales of Shaanxi Weinan Products increased by approximately $0.4 million, or 302.9% as compared to the same period in 2015.
- Sales and Production of Aoxing Pharmaceutical Products remained temporarily suspended as the Company still working toward renewal of its GMP certificates.
- The Company recorded a provision for doubtful accounts in the amount of $6.3 million during the second quarter. Our results of operations were materially affected by this provision.
- Net loss of $6.9 million as compared to net loss of $0.5 million for the second quarter 2015.
Shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) ended Tuesday session in red amid volatile trading. The shares closed down -0.07 points or -4.79% at $1.39 with 291,502.00 shares getting traded. Post opening the session at $1.45, the shares hit an intraday low of $1.38 and an intraday high of $1.45 and the price vacillated in this range throughout the day. The company has a market cap of $70.37 million and the numbers of outstanding shares have been calculated to be 49.59 million shares.
Infinity Pharmaceuticals Inc. (INFI) on Aug. 9, 2016 announced its second quarter 2016 financial results. Additionally, the company provided an update on its two development programs, duvelisib, an investigational, oral, dual inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma, and IPI-549, an immuno-oncology development candidate that selectively inhibits PI3K-gamma. Infinity is continuing to explore a broad range of strategic options for duvelisib, including a potential sale of the program. In parallel, the company continues to advance key value drivers for duvelisib. Infinity is also proceeding with its planned development of IPI-549 in multiple solid tumors and evaluating the best path forward for this development candidate.
“Data reported to date have demonstrated that duvelisib could play an important role in the future treatment of patients with hematologic malignancies, particularly for relapsing and/or refractory patients. We are now exploring strategic options for the program that could enable duvelisib to continue to advance toward potential regulatory filings and commercialization,” stated Adelene Perkins, president and chief executive officer. “We are also developing IPI-549 and determining the best clinical path forward for this promising immuno-oncology program. The Phase 1 study, which includes evaluation of IPI-549 as a monotherapy and planned evaluation in combination with a checkpoint inhibitor, is progressing well, and new preclinical and clinical data on IPI-549 will be presented at an immuno-oncology conference next month.”