Shares of GlaxoSmithKline plc (ADR) (NYSE:GSK) ended Thursday session in red amid volatile trading. The shares closed down -0.48 points or -1.10% at $42.98 with 3.22 million shares getting traded. Post opening the session at $43.07, the shares hit an intraday low of $42.88 and an intraday high of $43.19 and the price vacillated in this range throughout the day. The company has a market cap of $103.60 billion and the numbers of outstanding shares have been calculated to be 4.87 billion shares.
On Aug. 16, 2016 ViiV Healthcare announced the start of a phase III programme to support regulatory filings for a two-drug regimen of dolutegravir (Tivicay®) and lamivudine (Epivir®) as a treatment for HIV-1 infection in adults who have not received prior antiretroviral therapy.
The phase III programme comprises two identical studies (GEMINI 1 and 2) comparing a two-drug regimen of dolutegravir plus lamivudine with a three-drug regimen of dolutegravir plus the fixed-dose tablet tenofovir/emtricitabine (Truvada®). The studies together will include approximately 1,400 men and women living with HIV and are being conducted at research centres in Europe, Central and South America, North America, South Africa and Asia Pacific.
HIV care is a long-term prospect for those living with the disease, requiring life-long adherence to treatment. Since the introduction of highly active antiretroviral therapy 20 years ago, HIV treatment regimens have predominantly included three antiretroviral drugs., ViiV Healthcare is looking to the future and exploring how HIV treatment could evolve to reduce drug exposure and improve treatment adherence, while maintaining the level of efficacy achieved with three-drug regimens.
John C Pottage, Jr, MD, Chief Scientific and Medical Officer, ViiV Healthcare, commented, “We believe the clinical profile for dolutegravir presents an important opportunity to investigate the possibility of first-line treatment of HIV with a two-drug regimen. With this ambitious phase III programme, we will explore whether this two-drug regimen can fundamentally change the existing HIV treatment strategy, reducing the number of medications and potentially streamlining treatment regimens for people living with HIV.”
Shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) ended Thursday session in green amid volatile trading. The shares closed up +0.49 points or 1.88% at $26.56 with 1.36 million shares getting traded. Post opening the session at $25.89, the shares hit an intraday low of $25.59 and an intraday high of $26.63 and the price vacillated in this range throughout the day. The company has a market cap of $1.22 billion and the numbers of outstanding shares have been calculated to be 7.90 million shares.
Sarepta Therapeutics Inc (SRPT) on July 20, 2016 reported financial results for the three and six months ended June 30, 2016, and provided an update of recent corporate developments.
For the second quarter of 2016, Sarepta reported a net loss of $62.3 million, or $1.35 per share, compared to a net loss of $41.9 million for the second quarter of 2015, or $1.01 per share. The incremental loss of $20.5 million was primarily the result of increased research and development expenses.
Excluding $7.5 million of stock-based compensation expense and restructuring expenses, non-GAAP net loss for the second quarter of 2016 was $54.8 million, or $1.19 per share, compared to a non-GAAP net loss excluding $5.9 million of stock-based compensation expense of $35.9 million for the second quarter of 2015, or $0.87 per share.
No revenue was recognized for the three months ended June 30, 2016 and 2015.
Research and development expenses were $44.3 million for the second quarter of 2016, compared to $29.2 million for the second quarter of 2015, an increase of $15.2 million. Non-GAAP research and development expenses (excluding $2.9 million of stock-based compensation and restructuring expenses) were $41.4 million for the second quarter of 2016, compared to $26.6 million (excluding $2.6 million of stock-based compensation) for the second quarter of 2015, an increase of $14.8 million.