Ocera Therapeutics, Inc. (NASDAQ:OCRX) rose to $1.47 per share in the last trading day compared to a prior close of $1.4. The management team hold 0.3 percent of the stock. Weber Eckard ranks as top insider in Ocera Therapeutics, Inc., noted in the Company’s filings with the U.S. Securities and Exchange Commission. The insider’s stake of 344,719 shares is worth $506,737. Grais Linda S is ranked No.2 with 63,000 shares as of Mar 04, 2016, which sits at a market value around $92,610. Aggarwal Gaurav is another big name in this category. This insider owns 20,000 OCRX shares, amounting to about $29,400 as of recent trading price which is 12.25% above its 20-day moving average and -30.83% below its 50-day moving average. The equity dropped -34.67% over the trailing 3 months.
Ocera Therapeutics, Inc. (NASDAQ:OCRX) on March 10, 2017 announced reported financial results for the quarter and year ended December 31, 2016.
Fourth Quarter and Full Year 2016 Financial Results
- As of December 31, 2016, Ocera had cash, cash equivalents and investments of $28.4 million, compared with $43.3 million at December 31, 2015.
- Net use of cash for 2016 was $22.1 million, which was consistent with Ocera’s most recent guidance of the low end of the range of $22.0 to $26.0 million. Net use of cash equals the difference of cash, cash equivalents and investments at December 31, 2016 and 2015, less cash provided by financing activities, consisting of net proceeds of $7.1 million generated by an “At-the-Market” equity program during 2016.
- Net loss for the three and twelve months ended December 31, 2016 was $5.2 million and $26.9 million, respectively. Net loss for the three and twelve months ended December 31, 2015 was $7.1 million and $26.5 million, respectively. Basic and diluted net loss per share for the three and twelve months ended December 31, 2016 was $0.22 and $1.22, respectively. Basic and diluted net loss per share for the three and twelve months ended December 31, 2015 was $0.34 and $1.32, respectively.
- Revenue for the three and twelve months ended December 31, 2016 was $512,000 and $609,000, respectively. Revenue for the three and twelve months ended December 31, 2015 was $24,000 and $133,000, respectively. Revenue in all periods consisted of royalty and licensing revenue generated from certain clinical-stage assets acquired in connection with the 2013 reverse merger between Ocera and Tranzyme, Inc.
- Research and development (R&D) expense for the three and twelve months ended December 31, 2016 was $3.2 million and $16.1 million, respectively. R&D expense for the three and twelve months ended December 31, 2015 was $3.9 million and $16.0 million, respectively. The decrease in R&D expense for the three-month period was due primarily to a decrease in external development expenses, partially offset by personnel and related expenses.
- General and administrative (G&A) expense for the three and twelve months ended December 31, 2016 was $2.2 million and $10.4 million, respectively. G&A expense for the three and twelve months ended December 31, 2015 was $2.9 million and $10.3 million, respectively. The decrease in G&A expense for the three-month period was due primarily to lower personnel and related expenses.
Exelixis, Inc. (NASDAQ:EXEL) shares closed at $21.85, up 0.21 points or 0.97 percent from the previous close price. The up to date insider trading filings show Director MARCHESI VINCENT T has disposed of 40,000 shares,reducing the ownership to 120,070 units. The transaction occurred on Mar 10, 2017, at $21.98 per share worth a total $879,200. There was another major transaction on the insider-trading front. MORRISSEY MICHAEL, President and CEO at EXEL bought 200,000 common shares at a per share price of $22.72 to hold 249,523 shares. The stock recently traded at a volume of 0 shares vs. an average volume of 5.46M. The latest closing price is now higher 29.21% for the past quarter. The price is now 10.95% above its 50-day moving average and 60.13% above its 200-day moving average. The percentage change return over the last fifty two weeks remained 440.84%. The price range in the same period had a highest hit of $23.49 while lowest level in that period was $3.55.
Exelixis, Inc. (NASDAQ:EXEL) on March 6, 2017 announced that the U.S. Food & Drug Administration (FDA) has granted orphan drug designation to cabozantinib for the treatment of hepatocellular carcinoma (HCC). A pivotal phase 3 trial (CELESTIAL) of cabozantinib is ongoing in patients with advanced HCC, and Exelixis has guided that data from the trial are expected in 2017.
Orphan drug status is granted to treatments for diseases that affect fewer than 200,000 people in the U.S. and provides certain incentives for medications intended for the treatment, diagnosis or prevention of rare diseases. At present, these incentives include seven years of marketing exclusivity for the orphan indication, certain federal grants, tax credits and waiver of certain FDA fees.