Shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) added 11.86% by the end of trading session at $44.8. For the current quarter, the 6 brokerage firms issuing adjusted earnings per share outlook have a consensus forecast of -$1.96/share, which would compare with -$2.19 in the year-ago quarter. The net percentage change is -7.74% over the last 12 months. The trading range in the same period had a highest hit of $73.27 while lowest level was $19.74. At the moment the price is 28.72% above its 50-day moving average and 5.66% above its 200-day moving average.
Puma Biotechnology, Inc. (NASDAQ:PBYI) on March 2, 2017 announced publication of abstracts on neratinib for the American Association for Cancer Research (AACR) Annual Meeting 2017. The AACR Annual Meeting will be held at the Walter E. Washington Convention Center in Washington, D.C. from April 1 to April 5.
Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on the development and commercialization of innovative products to enhance cancer care. The Company in-licenses the global development and commercialization rights to three drug candidates—PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357. Neratinib is a potent irreversible tyrosine kinase inhibitor that blocks signal transduction through the epidermal growth factor receptors, HER1, HER2 and HER4. Currently, the Company is primarily focused on the development of the oral version of neratinib, and its most advanced drug candidates are directed at the treatment of HER2-positive breast cancer.
Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) last exchanged hands at a price $1.7/share, registering a gain of 8.97%. Among 3 Wall Street analysts tracked by Thomson/First Call, the average PT for MRNS is $3.33 but some of them are predicting the price to move at the $5 level. If the most optimistic analysts are correct, the expected total return from the current price would be 194.12. The number of shares traded in most recent trading day was 1.85M shares which averages 1.63M shares a day. Its previous fifty two week high was $6.76 and moved down -66.3% over the same time frame, currently having a market cap around $34.32 million. Shares have risen 80.85% over the trailing six months. At the moment, the stock trades 35.84% above its 50-day moving average and 3.78% above its 200-day moving average.
Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) on March 13, 2017 reported its financial results for the year ended December 31, 2016.
At December 31, 2016, the Company had cash, cash equivalents and investments of $30.1 million, compared to $57.7 million at December 31, 2015. We believe that our cash, cash equivalents and investments as of December 31, 2016 will enable us to fund our operating expenses and capital expenditure requirements into the second half of 2018.
Research and development expenses increased $3.1 million, to $22.0 million, for the year ended December 31, 2016, compared to the same period of 2015. The increase was primarily due to an increase of $2.7 million associated with preclinical and clinical activities in our IV program, and $1.4 million associated with increases in salaries, benefits and noncash stock-based compensation, mostly attributable to increased headcount. This increase was partially offset by a decrease of $1.3 million in costs associated with our drug-resistant focal onset seizure program, which discontinued in June 2016.
General and administrative expenses increased $0.7 million, to $6.2 million, for the year ended December 31, 2016, compared to the same period of 2015. The increase in general and administrative expenses was primarily due to an increase in noncash stock-based compensation expense.
The Company reported net losses of $28.6 million and $24.9 million for the years ended December 31, 2016 and 2015, respectively. Cash used in operating activities was $24.8 million for the year ended December 31, 2016 compared to $20.1 million for the same period a year ago.
Readers are referred to, and encouraged to read in its entirety the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 to be filed with the Securities and Exchange Commission, which includes further detail on the above-referenced transactions and the Company’s business plans and operations, financial condition and results of operations.