Healthcare Review: WebMD, Almost Family, Ariad Pharmaceuticals, Snyta Pharmaceuticals, Akebia Therapeutics Print E-mail
By Staff and Wire Reports   
Wednesday, 06 August 2014 14:02
U.S. stocks rose on Wednesday after buyers stepped in as the S&P 500 hit a more than two-month low, but concern about an escalation of the Russia-Ukraine conflict and two nixed deals weighed on sentiment. The S&P 500 bounced back after hitting a technical level that has provided support various times this year. Market reaction was initially muted after data showed the U.S. trade deficit narrowed more than expected in June to the lowest reading since January. JPMorgan and Goldman Sachs were among Wall Street banks that raised their previous and current quarter economic growth estimates on the back of that figure.

By next week, WebMD ($WBMD) will make a tender offer for up to 2M shares of its common stock at a price of $48.50 per share. The BOD decided to execute the offer in order to provide liquidity to stockholders. The buyback represents ~5.1% of the outstanding shares of the firm.

Almost Family ($AFAM) Q2 results: Revenues: $124.9M (+44.6%); Gross Margin: $59.4M (+47.4%); Operating Expenses: $52.3M (+46.1%); Operating Income: $7.0M (+59.1M); Net Income: $4.1M (+57.3%); EPS: $0.42 (+55.6%); Quick Assets: $2.8M (-77.0%); Cash Burn: ($1.9M) (-134.7%).

Ariad Pharmaceuticals (NASDAQ:ARIA) Q2 results: Total Revenues: $14.0M (+82.3%), Net Product Sales: $12.1M (+82.3%); Operating Expenses: $68.4M (-17.6%); Net Loss: ($56.9M) (+17.5%); Loss Per Share: ($0.30) (+18.9%); Quick Assets: $310.0M (+30.7%); Cash Burn: ($95.0M) (+16.7%).

Snyta Pharmaceuticals (NASDAQ:SNTA) Q2 results: Revenues: $0; Operating Expenses: $21.7M (-1.8%); Operating Loss: ($21.7M) (+1.8%); Net Loss: ($22.3M) (+2.2%); Loss Per Share: ($0.24) (+27.3%); Quick Assets: $112.1M (+22.5%).

Akebia Therapeutics (NASDAQ:AKBA) appoints Brad Maroni, M.D., as SVP and Chief Medical Officer. He joins the firm from Biogen where he was VP, Medical Research. The company also hires Mark De Rosch, Ph.D., as VP of Regulatory Affairs and Tamara Dillion as VP of Human Resources.          

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