Stock’s Earnings in Focus: Arena Pharmaceuticals, Inc. (ARNA), Earth Science Tech Inc (ETST), Celgene Corporation (CELG)
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) showing dropped of -1.40% and closed at $1.41, after gaining total volume of 1.62M shares. Its earnings per share (EPS) is -$0.09 and its beta value stands at -0.92 points and has total market capitalization of $341.27 million and a total of 245.47 million outstanding shares.
On March 15, 2017 Arena Pharmaceuticals, Inc. (ARNA) provided a corporate update and reported financial results for the fourth quarter and full-year ended December 31, 2016.
“We are very pleased with our progress in 2016 as we have positioned the Company to deliver results on multiple Phase 2 programs in 2017. In the last nine months since the arrival of the new management team, we prioritized our Phase 2 programs; strengthened our board and team to support our strategy; implemented cost reduction measures; renegotiated our agreement with Eisai; and took a methodical approach to maximizing the value of our assets,” said Amit Munshi, Arena’s President and CEO.
As previously disclosed, in February 2017, Arena appointed Jayson Dallas, M.D., Oliver Fetzer, Ph.D., and Garry A. Neil, M.D. as independent directors to the Company’s Board of Directors.
“This year we expect to report results from all three of our proprietary Phase 2 programs, beginning with ralinepag in mid-year for pulmonary arterial hypertension,” Mr. Munshi stated. “For etrasimod, we remain focused on maximizing the broad clinical utility of this compound in a time and cost effective manner. We are pleased to have initiated Phase 2 trials in both dermatologic extraintestinal manifestations in inflammatory bowel disease patients and pyoderma gangrenosum. We also plan to initiate a study in primary biliary cholangitis this year. Additionally, we have made important adjustments to the Phase 2 ulcerative colitis trial to ensure a robust data readout by year-end 2017.”
Earth Science Tech Inc (OTCMKTS:ETST) reported the plunge of -4.00% and closed at $1.44, with the total traded volume of 4,199.00 shares. During last trade its minimum price was $1.44 and it gained its highest price of $1.50 has a total of 40.91 million outstanding shares.
On March 14, 2017 Earth Science Tech, Inc. (ETST), an innovative biotech company focused on cannabis (industrial hemp), cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices is proud to announce its subsidiaries Cannabis Therapeutic, Inc. and Earth Science Pharmaceutical, Inc. the nomination of Kim Foster-Cunningham to the post of Project Manager for the MSN-2 medical device project; and Denis Babin of SDB Import/Export, Inc. as international marketing consultant for Cannabis Therapeutics and Earth Science Pharmaceutical products.
Ms. Foster-Cunningham, whom holds a degree in sales and marketing, is recognized for her expertise in business networking and her solid business expertise. She is a sought-after speaker throughout the USA and Canada, delivering conferences on her proactive approach to general health and self-care. Passionate about individual sports, she is a half marathon runner and a triathlete. Always enthusiastic about transmitting her passion for health and business development, this project is “her new baby”.
Celgene Corporation (NASDAQ:CELG) increased 1.03% closed at $125.58 and traded with total volume of 2.68M shares, while the average trading remained 3.67M shares. During last trade its minimum price was $124.00 and it gained the highest price of $126.32. Its market capitalization was $98.70 billion.
Celgene Corporation (CELG) on March 5, 2017 announced that results from its phase 4 UNVEIL trial evaluating OTEZLA (apremilast), the Company’s oral, selective inhibitor of phosphodiesterase 4 (PDE4), in patients with moderate plaque psoriasis with a body surface area (BSA) of 5-10 percent, were presented at the American Academy of Dermatology’s Annual Meeting in Orlando, Florida.
The UNVEIL study evaluated the clinical efficacy and safety of oral OTEZLA 30 mg twice daily compared with placebo at week 16 in 221 patients with moderate plaque psoriasis [defined as a BSA involvement of 5-10 percent and a static Physician’s Global Assessment (sPGA) of 3] who were naïve to systemic and biologic therapy. At baseline, more than 80 percent of patients enrolled in the trial had previously received topical therapy. The primary endpoint was the mean percentage change from baseline in the product of PGA and BSA (PGA×BSA) at week 16. The PGAxBSA composite tool is a simple assessment that has been developed as a measure of clinically meaningful responses of psoriasis patients in clinical trials.
At week 16, patients who received OTEZLA had a significantly greater improvement in mean percentage change from baseline in PGA×BSA compared with those who received placebo (-48.1 vs. -10.2, respectively; P<0.0001). In addition, a 75 percent or greater improvement in PGA×BSA score was achieved by 35.1 percent of patients treated with OTEZLA vs. 12.3 percent of patients treated with placebo (P<0.0001). A significantly greater percentage of patients receiving OTEZLA versus placebo achieved a PGA score of 0 (clear) or 1 (almost clear) at week 16 (30.4 percent vs. 9.6 percent; P<0.0001).
In other secondary endpoints, enrolled patients who had scalp psoriasis (n=167), a significantly greater percentage who received OTEZLA achieved a Scalp Physician’s Global Assessment score of 0 (clear) or 1 (minimal) with a greater than two-point reduction from baseline compared with placebo (38.0 percent vs. 20.0 percent, respectively; P=0.0178).