All Posts By

Evan Dion

Stocks

Stock Movers: Hasbro, TetraLogic Pharmaceuticals

TetraLogic Pharmaceuticals (TLOG) shares are up more than 19% in early trading Monday after the clinical-stage biopharmaceutical company, said it has partnered with Merck (MRK) to study combination therapy to treat solid tumors.

The stock recently changed hands at $4.87, slightly below a session high of $5.29. The 52-week range is $3.51 – $6.86. Merck is up 1.6% at $57.83 and has a spread of $52.49 – $63.62. The Phase 1 study will evaluate the safety and efficacy of birinapant, TetraLogic’s SMAC-mimetic, in combination with KEYTRUDA, MRK’s anti-PD-1 therapy, in patients with relapsed or refractory solid tumors.

The study is expected to begin in late 2015. Under the terms of the agreement, TLOG will sponsor and fund the study and MRK will provide KEYTRUDA. The companies have formed a Joint Development Committee to collaboratively oversee the conduct of the study. Results from the study will be used to determine the path for further clinical development of the combination.

“Both molecules are designed to help the body’s immune system better attack cancer cells, and we think the combination could be very promising,” said Kevin Buchi, President and Chief Executive Officer of TLOG.

Hasbro (HAS) shares jumped to a fresh lifetime high Monday morning after the toy and board-game maker reported Q1 financial results that handily beat analysts’ expectations. Shares were up 7.5% in recent trading at $70.85, after earlier climbing to their new high of $71.62. The stock’s previous 52-week high was $66.32.

The company posted Q1 net income of $26.7 million, or $0.21 per diluted share, compared with the prior-year period’s $32.1 million, or $0.24 per diluted share. The prior-year period included $0.10 per share in favorable tax adjustments. Analysts polled by Capital IQ were expecting EPS of $0.08 for the latest quarter.

Revenue was $713.5 million, up from $679.5 million in the same quarter last year and surpassing analysts’ mean estimate for revenue of $660.3 million. The company said the continued growth momentum in the quarter was led by its Entertainment and Licensing Segment, with net revenue rising 74% to $60.6 million. Segment growth was driven by Franchise Brands, particularly the increase in license revenue from My Little Pony and Transformers during the 2014 holiday period. Hasbro also cited underlying strength in demand across international markets, including the emerging markets.

April 20, 2015
Business

PICO Holdings Reports Wider Quarterly Losses

PICO Holdings (PICO) shares dropped more than 3% in early trading Monday after the company reported a wider Q4 loss and a decline in revenue, mainly due to the holding company’s agribusiness operations, which PICO is considering selling.

For the fourth quarter of 2014, PICO reported a net loss of $31.1 million or $1.36 per share, compared to a net loss of $7.8 million or $0.34 per share in the fourth quarter of 2013. Q4 revenues fell to $74.4 million compared with $76.0 million in the same period of 2013. Analyst estimates for comparison were not available.

PICO reported steeper losses in all three of its main businesses: water resources, real estate and agribusiness.

John Hart, PICO’s president and chief executive officer. said the company is reviewing financial and strategic alternatives for monetizing its investment in Northstar Agri Industries, a canola seed crushing operation with a single plant in northern Minnesota. “We believe that Northstar may have a higher valuation in the hands of a strategic buyer than as part of a diversified holding company.”

PICO also has interests in Vidler Water, a water resource development business and UCP, (UCP), a homebuilder and land developer. PICO shares fell 3.6% to $16.38, in a 52-week range of $15.66 to $26.25.

March 16, 2015
Science, Stocks

Apricus Biosciences Q4 Loss Widens, But Adjusted Loss Is Narrower Than Expected

Apricus Biosciences, a biopharmaceutical company focused on urology and rheumatology, on Monday reported a wider Q4 loss on a large in-licensing charge, but shares edged higher in the pre-market session as its loss excluding that charge was narrower than two analysts had expected. Shares of APRI were up 1.5% recently at $2.10, within a 52-week range of $0.92 to $2.75.

The company reported a Q4 net loss of $17.3 million, or $0.40 per share, compared with a net loss of $1.3 million, or $0.04 per share for Q4 2013. The company noted the widening in the quarterly net loss was primarily due to the in-licensing of fispemifene, a selective estrogen receptor modulator.

Excluding a $13.6 million charge related to the in-licensing, the company’s loss for the latest quarter was $0.09 per share. Two analysts polled by Capital IQ had predicted a loss of $0.12 for the quarter, on average.

Total revenue surged to $1.9 million from $362,000 in Q4 2013, topping one analyst’s prediction of $850,000.

In 2015, APRI expects to generate cash from milestone payments and royalty revenue from partner sales of Vitaros, its product for the treatment of erectile dysfunction. The company also said it will continue to pursue out-license opportunities for Vitaros in Asia Pacific and Latin America.

APRI plans to advance the pipeline with clinical trial progress of RayVa and fispemifene in 2015. The company expects to complete the enrollment of the RayVa Phase 2a clinical trial in Raynaud’s phenomenon in Q2 2015 with the goal of establishing proof-of-concept and the optimal dose required to advance the program into to late-stage clinical trials. APRI plans to begin a Phase 2b clinical trial for fispemifene in Q2 2015, with results expected in Q12016. The company believes its current cash will support its operating plan through 2015.

March 16, 2015