Shares of Brookdale Senior Living, Inc. (NYSE:BKD) ended Friday session in green amid volatile trading. The shares closed up +0.59 points or 3.41% at $17.90 with 3,614,983 shares getting traded. Post opening the session at $17.23, the shares hit an intraday low of $17.21 and an intraday high of $17.93 and the price vacillated in this range throughout the day. The company has a market cap of $3.44 billion and the numbers of outstanding shares have been calculated to be 185.91 million shares.
Brookdale Senior Living, Inc. (BKD) on Aug. 8, 2016 reported financial and operating results for the second quarter of 2016.
Total revenue for the second quarter of 2016 was $1.3 billion compared to $1.2 billion for the prior year period. During the fifteen months ended June 30, 2016, the Company disposed of a total of 30 communities, either through sales or lease terminations. These communities generated $4.9 million of revenue in the second quarter of 2016 compared to $18.6 million of revenue in the prior year period.
Resident fees of $1.1 billion for the second quarter of 2016 were a 1.0% increase over the second quarter of 2015. Average monthly revenue per occupied unit for the consolidated senior housing portfolio was $4,476 in the second quarter of 2016, an increase of 3.3% compared with the second quarter of 2015. Weighted average occupancy for all consolidated communities during the second quarter of 2016 was 85.8%, compared to 86.5% during the second quarter of 2015.
Facility operating expenses for the second quarter of 2016 were $693.1 million, a decline of $1.9 million, or 0.3%, from the second quarter of 2015. The decrease was primarily due to the impact of the community dispositions and a decrease in general and professional liability insurance expense of approximately $10.8 million. Brookdale’s consolidated operating margin was 34.3% for the second quarter of 2016 versus 33.4% for the second quarter of 2015.
Net loss attributable to Brookdale common stockholders for the second quarter of 2016 was $35.5 million, or $0.19 per share, versus net loss attributable to Brookdale common stockholders of $84.5 million, or $0.46 per share, for the second quarter of 2015. Weighted average shares outstanding were 185.8 million for the quarter ended June 30, 2016. Net loss for the second quarter of 2016 was $35.5 million, versus net loss of $84.8 million for the second quarter of 2015.
Shares of Array Biopharma Inc (NASDAQ:ARRY) ended Friday session in red amid volatile trading. The shares closed down -0.04 points or -1.00% at $3.47 with 3.55 million shares getting traded. Post opening the session at $3.52, the shares hit an intraday low of $3.45 and an intraday high of $3.55 and the price vacillated in this range throughout the day. The company has a market cap of $498.93 million and the numbers of outstanding shares have been calculated to be 145.02 million shares.
Array Biopharma Inc (ARRY) on Sept. 14, 2016 announced that it has reached agreement with the U.S. Food and Drug Administration (FDA) regarding a Special Protocol Assessment (SPA) related to BEACON CRC, a global Phase 3 trial of encorafenib and Erbitux® (cetuximab), with or without binimetinib, versus standard of care in patients with BRAF-mutant colorectal cancer (CRC) who have previously received first-or second-line systemic therapy.
“Colorectal cancer is the third most common cancer among men and women in the United States and BRAF-mutant CRC represents a high unmet medical need, as there are currently no targeted treatment options available for patients with this form of the disease,” said Scott Kopetz, M.D., Ph.D., of the University of Texas MD Anderson Cancer Center in Houston and BEACON CRC investigator. “The SPA agreement between Array and the FDA represents a welcome next step for the CRC community and, as a physician, I look forward to exploring these novel treatment combinations.”
The SPA provides agreement that the design and planned analysis of BEACON CRC adequately address the objectives necessary to support a regulatory submission for the approval of the doublet regimen of encorafenib and Erbitux®. The FDA also communicated that sharing evidence from the study that the triplet regimen (encorafenib, Erbitux and binimetinib) both met its primary endpoint (Overall Survival) as compared to the control arm, and demonstrated a clinically meaningful benefit as compared to the doublet regimen, would provide support for approval of the triplet regimen.