Shares of Fibrocell Science Inc (NASDAQ:FCSC) ended Monday session in green amid volatile trading. The shares closed up +0.005 points or 0.61% at $0.875 with 40,852.00 shares getting traded. Post opening the session at $0.88, the shares hit an intraday low of $0.87 and an intraday high of $0.89 and the price vacillated in this range throughout the day. The company has a market cap of $37.31 million and the numbers of outstanding shares have been calculated to be 43.90 million shares.
Fibrocell Science Inc (FCSC) on Aug. 04, 2016 reported financial results for the second quarter ended June 30, 2016.
Financial Results for the Six Months Ended June 30, 2016 and 2015
For the six months ended June 30, 2016, Fibrocell reported a diluted net loss of $0.26 per share, compared to a diluted net loss of $0.37 per share for the same period in 2015.
The 2016 period included $7.5 million in non-cash warrant revaluation income compared to non-cash warrant revaluation expense of $1.1 million for the same period in 2015. The 2016 period also included non-cash intangible asset impairment expense of $3.9 million and restructuring costs of $0.3 million related to the previously announced wind-down of Fibrocell’s azficel-T operations.
Research and development expense decreased to $7.2 million for the six months ended June 30, 2016, as compared to $7.7 million for the same period in 2015. The decrease was primarily the result of reduced costs related to Fibrocell’s ongoing development programs, offset by an increase in process development expenses.
Selling, general and administrative expense decreased to $5.3 million for the six months ended June 30, 2016, as compared to $6.6 million for the same period in 2015. The decrease was primarily due to reduced professional fees.
Shares of Pfizer Inc. (NYSE:PFE) ended Monday session in green amid volatile trading. The shares closed up +0.55 points or 1.61% at $34.65 with 19.42 million shares getting traded. Post opening the session at $34.00, the shares hit an intraday low of $33.94 and an intraday high of $34.73 and the price vacillated in this range throughout the day. The company has a market cap of $206.42 billion and the numbers of outstanding shares have been calculated to be 6.07 billion shares.
On Sept. 8, 2016 AnTolRx, Inc. announced that it has signed a Series A funding agreement with Pfizer Inc. (PFE), Orion Equity Partners LLC and JDRF, the leading global organization funding type 1 diabetes (T1D) research. The funding parties will provide $4 million over two years to fund research and development of AnTolRx’s antigen-specific Targeted Nanoparticle Tolerance Therapeutics (TNTT) to treat immune disorders including T1D. The company’s technology is based on the work of Dr. Francisco Quintana, Associate Scientist at Brigham and Women’s Hospital and Associate Professor of Neurology at Harvard Medical School.
“AnTolRx’s nanoparticles aim to co-deliver targeted antigens and a tolerogenic factor to suppress pathogenic antigen-specific immune responses and thereby restore more normal immunoregulation in a variety of autoimmune disorders,” said Mark Carthy, AnTolRx’s Chief Executive Officer. “We are grateful for the funding and support we have received from Pfizer, JDRF and Orion, as we continue to focus on developing disease-modifying therapies for patients with immune disorders, including type 1 diabetes, multiple sclerosis and inflammatory bowel disease.”
Pfizer led the investment round, and also has an exclusive option to in-license the company’s T1D candidate upon achievement of certain milestones.
“Pfizer is committed to exploring novel approaches for inducing tolerance in autoimmune disorders, and we believe that AnTolRx’s technology may have the potential to benefit patients in need,” said Michael Vincent, Senior Vice President and Chief Scientific Officer, Inflammation & Immunology, Pfizer.