Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) ended Friday session in green amid volatile trading. The shares closed up +0.54 points or 0.57% at $95.73 with 801,788.00 shares getting traded. Post opening the session at $95.30, the shares hit an intraday low of $93.86 and an intraday high of $96.49 and the price vacillated in this range throughout the day. The company has a market cap of $16.58 billion and the numbers of outstanding shares have been calculated to be 170.78 million shares.
BioMarin Pharmaceutical Inc. (BMRN) announced that management will participate in the Gene Therapy Panel at Citi’s 11th Annual Biotech Conference on September 7, 2016 at 1:00pm ET in Boston, the Robert W. Baird & Co. 2016 Global Healthcare Conference September 8, 2016 at 9:40am ET in New York and the Leerink Partners Roundtable Series: Rare Disease and Immuno-Oncology on September 28, 2016 at 10:00am ET in New York. To access the live webcasts, please visit the investor section of the BioMarin website, www.biomarin.com. A replay will also be archived on the site for at least one week following the event.
Shares of Catalyst Biosciences Inc (NASDAQ:CBIO) ended Friday session in green amid volatile trading. The shares closed up +0.01 points or 0.83% at $1.21 with 8,828.00 shares getting traded. Post opening the session at $1.26, the shares hit an intraday low of $1.21 and an intraday high of $1.26 and the price vacillated in this range throughout the day. The company has a market cap of $14.32 million and the numbers of outstanding shares have been calculated to be 11.84 million shares.
Catalyst Biosciences Inc (CBIO) on Aug. 04, 2016 announced financial results for the second quarter ended June 30, 2016.
“During the second quarter, we made progress on our manufacturing preparations for CB 813d, our high potency next-generation Factor VIIa product candidate, signing an agreement with CMC Biologics for cGMP manufacturing,” said Nassim Usman, Ph.D., Catalyst’s President and Chief Executive Officer. “Early next year, our partner ISU Abxis in South Korea plans to initiate a Phase 1/2 proof of concept subcutaneous trial for CB 2679d (ISU 304) our high potency recombinant Factor IX product candidate for Hemophilia B. Following completion of the Phase 1/2 trial, Catalyst Biosciences will control the global development of and commercialization rights to CB 2679d outside of South Korea.”
Financial Results for the Second Quarter Ended June 30, 2016
- Contract revenue for the three months ended June 30, 2016 was $0.1 million, compared to $0.9 million for the prior year period. The decrease in contract revenue was due primarily to the termination of the collaboration agreement with Pfizer in June 2015.
- Research and development expense for the three months ended June 30, 2016, was $2.8 million compared to $1.3 million for the prior year period. The increase was due primarily to increased manufacturing expenses for CB 813d, personnel costs related to increased development activities and an increase in lab supply costs and costs related to preclinical third-party R&D service contracts.
- General and administrative expense for the three months ended June 30, 2016, was $2.3 million compared to $1.8 million for the prior year period. The increase was due primarily to an increase in personnel-related costs, other expenses related to operating as a public company and an increase in the cost of professional services.
- Interest and other income for the three months ended June 30, 2016 was $0.1 million, compared to $0.5 million for the comparable period in the prior year.
- Net loss for the three months ended June 30, 2016, was $4.8 million, or ($0.42) per basic and diluted share, compared to $1.7 million, or ($4.60) per basic and diluted share for the prior year period.
- Cash, cash equivalents and short-term investments as of June 30, 2016, were $24.0 million. The company believes that its existing capital resources will be sufficient to meet its projected operating requirements for at least the next 12 months.