Shares of CIGNA Corporation (NYSE:CI) ended Friday session in green amid volatile trading. The shares closed up +3.35 points or 2.60% at $131.99 with 2,742,007 shares getting traded. Post opening the session at $128.94, the shares hit an intraday low of $128.00 and an intraday high of $132.78 and the price vacillated in this range throughout the day. The company has a market cap of $34.75 billion and the numbers of outstanding shares have been calculated to be 256.57 million shares.
CIGNA Corporation (CI) announced that it will continue its work to raise awareness of the country’s opioid epidemic – and how to curb it – on Monday, Sept. 19, from 6 to 8:30 pm CT in Chicago as the company sponsors NPR Generation Listen: America’s Opioid Epidemic. This NPR “listening party” is the second in a two-city tour. The first event that took place in Atlanta on Sept. 1.
The Chicago event for Millennials will be free to the public and held at The Ivy Room, 12 E. Ohio St., Chicago. The program will be hosted by NPR reporter Kelly McEvers, with special guest journalist and author Maia Szalavitz. For information or to register for the forum, visit https://npropioidschicago.splashthat.com/.
NPR’s listening parties are intimate gatherings where the audience listens to thought-provoking stories, discusses ideas surfaced through these stories, and meets like-minded people interested in addressing issues such as the opioid epidemic. On Sept. 19, the gathered audience will listen to NPR reports from the frontlines of the opioid epidemic. McEvers will then kick off a conversation with Szalavitz, and the audience will be invited to share personal reflections, stories, questions and ideas to better understand how to prevent, treat and communicate about substance use disorders.
The Centers for Disease Control and Prevention has found that prescription opioid overdose rates between 1999 and 2014 were highest among people between the ages of 25 and 54. “The challenges with opioid abuse cut across generations. The Millennial generation has been hard hit, but it is important to recognize they have the potential to help reverse this crisis for themselves, friends, as well as older generations and the generation of the future,” said David M. Cordani, Cigna president and chief executive officer. Cordani will open the forum, and will be on hand to wrap up the evening in a discussion with Loren Mayor, NPR’s chief operating officer.
Shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) ended Friday session in green amid volatile trading. The shares closed up +1.79 points or 20.29% at $10.61 with 2.67 million shares getting traded. Post opening the session at $10.04, the shares hit an intraday low of $9.74 and an intraday high of $10.98 and the price vacillated in this range throughout the day. The company has a market cap of $548.74 million and the numbers of outstanding shares have been calculated to be 42.99 million shares.
GenMark Diagnostics, Inc (GNMK) on July 29, 2016 announced financial results for the second quarter ended June 30, 2016.
Revenue for the second quarter of 2016 was $12.5 million, an increase of 64% over the prior year period.
Gross profit for the second quarter of 2016 was $7.8 million, or 62% of revenue, compared with $4.4 million, or 57% of revenue in the same period of 2015.
“XT-8 continues to deliver strong results. Our second quarter revenues were once again mainly driven by our infectious disease menu and reflected the unusually late 2015/16 flu season,” said Hany Massarany, President and Chief Executive Officer of GenMark. “Over the past few weeks, we installed ePlex systems in several European customer sites. Initial feedback has been very positive, confirming the ease of use of the ePlex platform, its intuitive user interface and comprehensive reporting capabilities. Furthermore, we have installed ePlex systems at all of our U.S. clinical trial sites. These sites are on track to initiate clinical studies for our ePlex respiratory pathogen (RP) panel this quarter, and we expect to submit our ePlex instrument and RP panel for FDA 510(k) clearance during fourth quarter,” added Massarany.
Operating expenses for the second quarter of 2016 were $20.4 million compared to $16.3 million in the same period for 2015. The increase was mainly driven by research and development expenses as efforts continued towards the launch of ePlex.
Loss per share was $0.30 per share for the second quarter of 2016 compared to a loss of $0.29 per share in the same period of 2015.
The Company ended the quarter with $37.5 million in cash and cash equivalents and intends to continue utilizing its cash balances to invest in the global commercialization of the ePlex system. The Company’s existing debt facility can provide up to an additional $20 million to support the launch of ePlex internationally as well as domestically.