(RTTNews.com) - The following are some of today's top gainers in the pharma/biotech sector.
1. ARMO BioSciences Inc. (ARMO)
Gained 67% to close Thursday's (May 10) trading at $49.80.
News: The Company has agreed to be acquired by Eli Lilly and Co. (LLY) for $50 per share, or approximately $1.6 billion, in an all-cash transaction.
ARMO's lead product candidate is Pegilodecakin, currently being studied in a phase III trial in pancreatic cancer, as well as earlier-phase trials in lung and renal cell cancer, melanoma and other solid tumor types. ARMO also has a number of other immuno-oncology product candidates in various stages of pre-clinical development.
The transaction is expected to close by the end of the second quarter of 2018, subject to customary closing conditions.
2. Prestige Brands Holdings Inc. (PBH)
Gained 23.73% to close Thursday's trading at $35.25.
News: The Company reported financial results for the fourth quarter and fiscal year ended March 31, 2018.
Reported net loss for the fourth quarter of fiscal 2018 was $39.7 million or $0.75 per share compared to net income of $11.1 million or $0.21 per share in the prior year comparable period.
On a non-GAAP basis, adjusted net income for the fourth quarter of fiscal 2018 was $33.0 million or $0.62 per share, up from $28.8 million or $0.54 per share in the year-ago quarter.
Reported revenues in the fourth quarter of fiscal 2018 increased 6.4% to $256.0 million from $240.7 million in the fourth quarter of fiscal 2017.
Looking ahead, for fiscal 2019, the Company has forecast revenues to range between $1.046 billion to $1.056 billion. Total revenue in fiscal 2018 was $1.041 billion.
3. Depomed Inc. (DEPO)
Gained 23.15% to close Thursday's trading at $7.34.
News: The Company reported financial results for the first quarter ended March 31, 2018.
Net income for the recent first quarter was $33.82 million or $0.48 per share on revenue of $128 million. This compared with a loss of $26.74 million or $0.43 per share on revenue of $90.45 million in the year-ago quarter.
Looking ahead to full year 2018, the Company now sees a narrower loss of $23 million to $33 million. Earlier, Depomed was expecting a loss in the range of $72 million to $82 million. The neurology franchise net sales for 2018 are expected to range between $120 million to $125 million.
4. Juniper Pharmaceuticals Inc. (JNP)
Gained 20.37% to close Thursday's trading at $9.75.
News: The Company reported Q1, 2018 financial results.
Net income was $0.8 million or $0.06 per share in the first quarter of 2018, compared to a net loss of $1.4 million or $0.13 per share in the same period of 2017. Revenue for the recent first quarter increased 38% to $15.5 million, compared with $11.2 million for the year-ago quarter.
5. Dynavax Technologies Corp.(DVAX)
Gained 16.82% to close Thursday's trading at $18.75.
News: JPMorgan analyst Anupam Rama has upgraded Dynavax to "Overweight" from "Neutral", and has raised the price target to $27.00 from $25.00.
The Company has one commercial product, HEPLISAV-B, a hepatitis B vaccine for adults, approved in the United States, and two investigational cancer immunotherapeutic products - SD-101, currently being evaluated in phase 1/2 studies, and DV281 in phase 1 development.
6. Diplomat Pharmacy Inc. (DPLO)
Gained 15.98% to close Thursday's trading at $23.22.
News: Brian Griffin, Executive Vice President and CEO of IngenioRx, the pharmacy benefit manager of Anthem Inc., has been appointed Diplomat Pharmacy's Chief Executive Officer and Chairman of the Board of Directors, effective June 4, 2018.
With Griffin's appointment, the Diplomat Board will expand to eight members, the Company noted.
Phil Hagerman, the CEO and founder of Diplomat Pharmacy, retired from the Company in January of this year. Jeff Park, who assumed the role of interim CEO, following the retirement of Hagerman, has resigned voluntarily from the post, effective Friday, May 11, 2018.
Atul Kavthekar, the CFO, has temporarily assumed the role of Interim CEO of Diplomat until Griffin's appointment is effective.
On May 7, 2018, the Company reported Q1, 2018 financial results, and raised its revenue outlook for 2018.
Net loss income attributable to Diplomat for the first quarter of 2018 was $0.5 million or $0.01 per share compared to net income of $4.4 million or $0.07 per share in the first quarter of 2017. Revenue for the first quarter of 2018 was $1.34 billion compared to $1.08 billion in the first quarter of 2017.
For 2018, Diplomat now expects revenue to range between $5.5 billion and $5.9 billion, up from its prior outlook range of $5.3 billion and $5.6 billion. The Company's revenue in 2017 was $4.48 billion.
Read the original article on RTTNews (http://www.rttnews.com/2894090/armo-snapped-up-depo-soars-on-upbeat-forecast-dplo-gets-a-new-boss.aspx)
For comments and feedback: contact email@example.com