Shares of Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) ended Friday session in green amid volatile trading. The shares closed up +0.32 points or 1.62% at $20.07with 1.59 million shares getting traded. Post opening the session at $19.71, the shares hit an intraday low of $19.50 and an intraday high of $20.76 and the price vacillated in this range throughout the day. The company has a market cap of $920.25 million and the numbers of outstanding shares have been calculated to be 45.12 million shares.
Amphastar Pharmaceuticals Inc (AMPH) on Aug. 08, 2016 reported results for the three months ended June 30, 2016.
Second Quarter Results
For the three months ended June 30, 2016, the Company reported net revenues of $68.0 million, an increase of 26% compared to $53.9 million for the three months ended June 30, 2015.
During the three months ended June 30, 2016, net revenues of enoxaparin were $17.3 million, a decrease of 11% compared to $19.5 million for the three months ended June 30, 2015, primarily due to lower average selling prices.
Other finished pharmaceutical product revenues were $46.4 million for the three months ended June 30, 2016, an increase of 52% compared to $30.6 million for the three months ended June 30, 2015, largely due to an increase in sales of naloxone to $15.6 million from $10.7 million, as a result of an increase in unit volumes. Pricing of naloxone declined in the three months ended June 30, 2016 compared to the three months ended June 30, 2015, as the Company increased discounting and rebates. Additionally, sales of phytonadione increased to $8.8 million from $1.8 million, sales of epinephrine increased to $5.2 million from $2.2 million and sales of lidocaine increased to $8.2 million from $7.3 million.
Sales of the Company’s insulin active pharmaceutical ingredient (“API”) products were $4.3 million for the three months ended June 30, 2016 compared to $3.8 million for the three months ended June 30, 2015, as MannKind purchased part of their unfulfilled 2015 commitments during the second quarter of 2016.
Dr. Jack Zhang, Amphastar’s CEO, commented: “Resubmitting our Primatene® NDA this quarter is a big milestone for the company and its inhalation platform. We look forward to the possibility of bringing this product back to the market in early 2017.”
Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) ended Friday session in green amid volatile trading. The shares closed up +0.10 points or 0.29% at $35.12 with 1.58 million shares getting traded. Post opening the session at $34.77, the shares hit an intraday low of $34.41 and an intraday high of $35.69 and the price vacillated in this range throughout the day. The company has a market cap of $4.26 billion and the numbers of outstanding shares have been calculated to be 120.92 million shares.
On Sept. 22, 2016 Akcea Therapeutics, a wholly-owned subsidiary of Ionis Pharmaceuticals, Inc. (IONS), announced the publication in The Lancet of key clinical results of two randomized, controlled studies of IONIS-APO(a)Rx and IONIS-APO(a)-LRx, the company’s Lp(a)-lowering drugs designed to treat cardiovascular disease and aortic valve stenosis. Lipoprotein(a), or Lp(a), is an independent, causal, genetic risk factor for cardiovascular disease and aortic valve narrowing (stenosis). In these studies, substantial Lp(a) reductions of up to 99% were noted, regardless of starting Lp(a) levels. In addition, reductions in low-density lipoprotein-cholesterol – (LDL-C) and pro-inflammatory oxidized phospholipids were observed, as well as a decrease in the inflammatory effects of white blood cells, which can initiate and accelerate cardiovascular disease.
“Patients with Lp(a)-driven cardiovascular disease have no viable therapeutic options for significantly lowering their Lp(a) to a level where risk can be minimal. And, since a patient’s Lp(a) level is genetically determined, changes in lifestyle, such as diet and exercise, have minimal, if any, impact,” said Sotirios Tsimikas, M.D., senior author of the paper, vice president of clinical development at Ionis Pharmaceuticals and professor of medicine and director of vascular medicine at the University of California, San Diego. “The results from these studies show, for the first time, a new therapy that can substantially reduce Lp(a), regardless of a patient’s starting Lp(a) level.”