Shares of Biostage, Inc. (NASDAQ:BSTG) added 8.85% by the end of trading session at $0.39. For the current quarter, the 1 brokerage firms issuing adjusted earnings per share outlook have a consensus forecast of -$0.23/share, which would compare with -$0.18 in the year-ago quarter. The net percentage change is -78.96% over the last 12 months. The trading range in the same period had a highest hit of $2.86 while lowest level was $0.29. At the moment the price is -38.08% below its 50-day moving average and -58.28% below its 200-day moving average.
Biostage, Inc. (NASDAQ:BSTG) on March 9, 2017 announced financial results for the quarter and year ended December 31, 2016.
For the three months ended December 31, 2016, the Company reported a net loss of approximately $3.34 million, or a net loss per diluted share of $0.20, compared to a net loss of approximately $2.29 million, or a net loss per diluted share of $0.17 for the three months ended December 31, 2015. The change is primarily attributable to additional spending within research and development on outsourced preclinical studies.
For the year ended December 31, 2016, the Company reported a net loss of approximately $11.58 million, or a net loss per diluted share of $0.73, compared to a net loss of approximately $11.70 million, or a net loss per diluted share of $1.05 for the year ended December 31, 2015. The change is attributable to an increase in spending on research and development, offset by a decrease in stock-based compensation costs of $2.6 million primarily related to the departure of our former Chairman and CEO in April 2015.
The Company ended the year with approximately $2.94 million of cash and cash equivalents. Based on management’s current projections, it believes it has sufficient cash on hand to fund operations through the third quarter of 2017.
Incyte Corporation (NASDAQ:INCY) last exchanged hands at a price $151.03/share, registering a gain of 1.2%. Among 16 Wall Street analysts tracked by Thomson/First Call, the average PT for INCY is $139.75 but some of them are predicting the price to move at the $160 level. If the most optimistic analysts are correct, the expected total return from the current price would be 5.94. The number of shares traded in most recent trading day was 4.16M shares which averages 2.22M shares a day. Its previous fifty two week high was $151.63 and moved up 113.05% over the same time frame, currently having a market cap around $28.48 billion. Shares have risen 46.8% over the trailing six months. At the moment, the stock trades 24.89% above its 50-day moving average and 55.83% above its 200-day moving average.
Incyte Corporation (NASDAQ:INCY) on March 2, 2017 announced that 20 abstracts from its research and development portfolio will be presented at the upcoming 2017 American Association for Cancer Research (AACR) annual meeting in Washington, D.C. from April 1-5, 2017. These abstracts include a clinical data presentation from the dose-escalation phase of the Company’s ongoing trial of its selective FGFR 1/2/3 inhibitor (INCB54828), and well as preclinical data from its small molecule inhibitor programs targeting PI3Kδ (INCB50465), LSD1 (INCB59872), JAK1 (INCB52793), BRD/BET (INCB54329 and INCB57643) and FGFR4 (INCB62079) and from its epacadostat, OX40 (INCAGN1949) and GITR (INCAGN1876) immuno-oncology programs.