The following companies reported fourth-quarter results and provided corporate updates on Wednesday.
1. Akumin Inc. (AKU), a provider of outpatient diagnostic imaging services in the U.S., reported revenue totaling $179.4 million for the fourth quarter of 2021, up 168.3% over the year-ago period. Net loss for Q4, 2021, widened to $31.71 million or $0.36 per share from $18.69 million or $0.27 per share in the year-ago quarter.
AKU closed Wednesday’s trading at $0.94, up 1.08%.
2. Catalyst Pharmaceuticals Inc. (CPRX), a commercial-stage biopharmaceutical company focused on rare diseases, reported non-GAAP net income of $14 million or $0.13 per share on revenue of $38.31 million for the fourth quarter of 2021. This compares with non-GAAP net income of $10.21 million or $0.10 per share and revenue of $31 million in the fourth quarter of 2020.
Looking ahead to 2022, the company expects revenue to be in the range of $195 million to $205 million, representing a 38% – 45% increase in revenue reported in 2021.
CPRX closed Wednesday’s trading at $7.89, up 4.64%.
3. eFFECTOR Therapeutics Inc. (EFTR), a clinical-stage biopharmaceutical company focused on pioneering the development of a new class of oncology drugs referred to as STRIs, has a clinical trial catalyst to watch in the coming months.
The company expects to report initial response data from one or more phase II expansion cohorts of its phase I/II dose escalation and expansion trial of Zotatifin in multiple solid tumors in the first half of 2022. Topline results from the trial are anticipated in the second half of 2022.
Cash and cash equivalents were $49.7 million as of December 31, 2021.
EFTR closed Wednesday’s trading at $4.07, down 0.49%.
4. Eton Pharmaceuticals Inc. (ETON), a commercial stage pharmaceutical company focused on treatments for rare diseases, reported net income of $1.0 million or $0.04 per share on revenue of $6.1 million for the fourth quarter of 2021. This compared to a net loss of $7.7 million or $0.32 per share and no material revenue in the fourth quarter of 2020.
Six of the company’s FDA-approved commercial products are in launch phase while four additional products are under FDA review.
The FDA decision on Lamotrigine, proposed for the treatment of partial on-set seizures, primary generalized tonic-clonic seizures, and seizures of Lennox-Gastaut syndrome in patients two year of age and older, is expected in May of this year.
Eton sold Lamotrigine to Azurity Pharmaceuticals last February. Eton will receive a $5 million milestone payment upon the approval and launch of Lamotrigine.
ETON closed Wednesday’s trading at $3.93, unchanged from the previous day’s close.
5. ImmunoPrecise Antibodies Ltd. (IPA), a biotherapeutic company developing novel antibodies against a broad range of diseases, recorded a net loss of $3.8 million on revenue of $4.8 million for third quarter fiscal year 2022, which ended January 31, 2022. This compared with a net loss of $1.3 million and revenue of $4.5 million in the year-ago period.
IPA closed Wednesday’s trading at $3.91, down 1.01%.
6. MorphoSys AG (MOR), a global commercial-stage biopharmaceutical company developing cancer medicines, reported a consolidated net loss of €381.0 million or €11.16 per share – wider than €16.5 million or €0.50 per share incurred in the year-ago quarter.
Total revenues, which include Monjuvi U.S.net product sales, Minjuvi royalty revenue, licensing and other revenue, jumped to €52.9 million in the fourth quarter of 2021 from €36.0 million in the year-ago quarter.
For full year 2022, the company expects Monjuvi U.S. net product sales to be in the range of US$110 million to $135 million. The U.S. net product sales of Monjuvi were US$79.1 million (€66.9 million) for the full year of 2021.
MorphoSys’ partner Roche expects pivotal data readout of phase III trials of Gantenerumab in patients with early (prodromal to mild) Alzheimer’s disease in the second half of 2022.
MOR closed Wednesday’s trading at $6.70, up 6.01%.
7. Sana Biotechnology Inc. (SANA), which is focused on developing engineered cells as medicines for patients, expects to seek FDA clearance to advance two of its compounds to clinical testing this year.
The two compounds for which the company is planning to file investigational new drug applications this year are SC291, a hypoimmune allogeneic CD19-targeted CAR T therapy for cancer, and SG295, a CAR T cell fusosome product candidate also being developed for cancer.
SANA closed Wednesday’s trading at $6.38, up 11.15%.
8. SQZ Biotechnologies Co. (SQZ) expects to present clinical data from COMMANDER-001, a phase I/II clinical trial of SQZ-eAPC-HPV for the treatment of HPV16+ advanced or metastatic solid tumors, in the second half of this year.
This clinical-stage biotechnology company is focused on developing cell therapies across the fields of Oncology, Autoimmune and Infectious Diseases. The company generates revenue from collaboration agreements and in full-year 2021, collaboration revenue was $27.1 million compared to $20.9 million in the prior year.
SQZ closed Wednesday’s trading at $4.24, up 2.17%.
9. Viracta Therapeutics Inc. (VIRX) anticipates several important advancements and milestones in its clinical programs in the year ahead.
The company’s lead investigational drug is Nanatinostat, currently being evaluated in combination with the antiviral agent Valganciclovir as an oral combination therapy, in a pivotal Phase 2 clinical trial for Epstein-Barr virus-positive (EBV+) lymphoma, dubbed NAVAL-1, and a Phase 1b/2 trial in patients with advanced EBV+ nasopharyngeal carcinoma and other EBV+ solid tumors.
The company anticipates providing an update on the NAVAL-1 trial and preliminary Phase 1b safety and efficacy data from the Phase 1b/2 trial in patients with advanced EBV+ nasopharyngeal carcinoma and other EBV+ solid tumors in the second half of 2022.
VIRX closed Wednesday’s trading at $2.49, up 11.66%.
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