Morning Buzz: Gilead Sciences Inc. (NASDAQ:GILD), Novavax, Inc. (NASDAQ:NVAX), Conatus Pharmaceuticals Inc. (NASDAQ:CNAT)
Lakeway, NY — (MARKET NEWS CALL) — 03/02/2016— Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on Gilead Sciences Inc. (NASDAQ:GILD), Novavax, Inc. (NASDAQ:NVAX), Conatus Pharmaceuticals Inc. (NASDAQ:CNAT).
Gilead Sciences Inc. (NASDAQ:GILD)’s shares gained 2.85% to $85.06. The company, on Feb. 2, 2016, posted a 34% increase in fourth-quarter profit, trouncing Wall Street expectations, as sales of its blockbuster hepatitis C drugs soared in Japan and offset lower sales in the U.S. The company reported fourth-quarter net income of $4.68 billion, or $3.18 per share. That’s up from $3.49 billion, or $2.18 per share, a year earlier. Adjusted earnings were $3.32 per share. The average estimate of analysts was for earnings of $2.99 per share. Gilead, which also dominates the market for HIV drugs, posted revenue of $8.51 billion in the period, up 16 percent from a year ago. Analysts expected $8.11 billion.
Novavax, Inc. (NASDAQ:NVAX)’s shares dropped 8.30% to $4.31. The company on Jan. 29, 2016, announced the closing of its previously announced offering of $300 million aggregate principal amount of convertible senior unsecured notes that will mature on February 1, 2023 (the Notes). Under the purchase agreement, the initial purchasers may exercise their option to purchase up to an additional $30 million aggregate principal amount of the Notes solely to cover over-allotments any time before Feb. 24, 2016. The Notes were offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT)’s shares gained 21.88% to $1.95. The company, on Feb. 3, 2016, announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to the company’s emricasan development program for the treatment of liver cirrhosis caused by nonalcoholic steatohepatitis (NASH). Based on additional communications with the FDA recommending single-etiology clinical trials, the company plans to focus on advancing toward initial registration of emricasan for patients with NASH cirrhosis, with parallel development toward registration of emricasan for patients with NASH fibrosis, and supportive clinical trials addressing additional patient populations.
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Tags: Conatus Pharmaceuticals Inc (NASDAQ:CNAT), Gilead Sciences Inc. (NASDAQ:GILD), Inc. (NASDAQ:NVAX), Novavax