New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 14, 2014
07:09 EDTRTRXRetrophin raises FY14 revenue view to $19M-$21M from $10M-$12M
One estimate $11M. Raises FY15 revenue view to $35M-$40M from $19M-$21M, one estimate $20M. Retrophin CEO Martin Shkreli said, “Reimbursement of Chenodal has remained robust, and initial efforts to find undiagnosed cerebrotendinous xanthomatosis patients are promising. We have raised our guidance for 2014 and 2015 revenue accordingly. We are very comfortable with our current cash balance and future obligations. The success of Chenodal significantly reduces our cash needs and may propel the company to profitability in the near-term. As such, we have no need or desire to explore a dilutive equity offering unless it is accompanied by an accretive and strategic acquisition. Retrophin remains opportunistic with respect to M&A and has strong access to both debt and equity capital.”
News For RTRX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 23, 2015
10:08 EDTRTRXHigh option volume stocks
Subscribe for More Information
March 19, 2015
10:23 EDTRTRXHigh option volume stocks
Subscribe for More Information
06:09 EDTRTRXRetrophin 6.84M share Secondary priced at $19.00
Subscribe for More Information
March 18, 2015
16:26 EDTRTRXOn The Fly: Closing Wrap
Subscribe for More Information
12:38 EDTRTRXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday ahead of the conclusion of the Federal Reserve's latest rate setting meeting and the central bank's accompanying announcements. The averages began the session in negative territory and have been range-bound throughout the morning. The Dow was down triple digits once again, making 8 consecutive days that the blue chip index has seen a triple digit move. ECONOMIC EVENTS: In the U.S., the DOE petroleum inventory reports showed a 9.6M barrel rise in crude stocks in the week of March 13, versus expectations for a 4.4M build. The day's big economic news is yet to come, with the Fed's FOMC meeting announcement due at 2:00 pm EDT and Fed Chair Yellen holding a press conference a half hour later. Elsewhere, Prime Minister Benjamin Netanyahu unexpectedly defeated his main challenger in Israel’s election and his Likud party appears set to capture more parliament seats. COMPANY NEWS: Shares of FedEx (FDX) slid 2.5% after the shipping giant reported earnings that beat estimates, but revenue that fell short of the consensus forecast, for its third fiscal quarter. FedEx noted that it expects to deliver "record" yearly earnings for the current fiscal year and next fiscal year as well... Oracle (ORCL) shares rose 2.5% after the company's third quarter profits matched expectations and it raised its quarterly dividend 25%. MAJOR MOVERS: Among the notable gainers was Vitesse Semiconductor (VTSS), which jumped 37% after the company agreed to be acquired for $5.28 per share in cash by Microsemi (MSCC). Also higher was Retrophin (RTRX), which rose 28% after the company said it will exercise its right to purchase from Asklepion Pharmaceuticals all worldwide rights, titles, and ownership of Cholbam after the FDA approved the drug for the treatment of pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects and for patients with peroxisomal disorders. Among the noteworthy losers was Willbros Group (WG), which dropped 55% and was downgraded to Underperform at DA Davidson after announcing its earnings report will be delayed and the company is in potential non-compliance with debt covenants. Also lower following their earnings reports were Nektar Therapeutics (NKTR), which fell 15% after the company's Phase III BEACON metastatic breast cancer study missed its primary endpoint. INDEXES: Near midday, the Dow was down 105.02, or 0.59%, to 17,744.06, the Nasdaq was down 12.45, or 0.25%, to 4,924.99, and the S&P 500 was down 7.69, or 0.37%, to 2,066.59.
10:15 EDTRTRXRetrophin moves off earlier highs, levels to watch
Subscribe for More Information
09:23 EDTRTRXOn The Fly: Pre-market Movers
Subscribe for More Information
07:48 EDTRTRXRetrophin to acquire worldwide rights to Cholbam after FDA approval
Retrophin announced that the FDA has approved Cholbam capsules, the first FDA approved treatment for pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, and for patients with peroxisomal disorders, including Zellweger spectrum disorders. As a result of the approval, Retrophin will exercise its right to purchase from Asklepion Pharmaceuticals all worldwide rights, titles, and ownership of Cholbam and related assets. Under the terms of the agreement announced on January 12, Retrophin will pay Asklepion a one-time cash payment of $27M, in addition to approximately 661,278 shares of Retrophin common stock, initially valued at $9M at the time of the agreement, which assumes Cholbam received an approval for a CTX indication. Asklepion will also be eligible to receive up to $37M in cumulative sales milestones, as well as tiered royalties based on future net sales of Cholbam. The FDA also granted Asklepion a Rare Pediatric Disease Priority Review Voucher, a provision that encourages development of new drugs and biologics for the prevention and treatment of rare pediatric diseases. This voucher is designed to be transferable or sold and provides the bearer with an expedited FDA review for any new drug application. The Pediatric PRV will be transferred to Retrophin under the original terms of the agreement with Asklepion. Cholbam will have seven years market exclusivity in the U.S. conferred by its designation as an orphan drug. Retrophin expects to close the acquisition and be able to begin distributing therapy in as few as two to four weeks, subject to the satisfaction of customary closing conditions.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use