Kudrna's Stock Market Talk

On March 20, 2012, International Stem Cell Corp. (ISCO) reported financial results for the fourth quarter and year end December 31, 2011. Total revenues in the fourth quarter were $1.1 million, right in-line with our estimate. Revenues consisted of $0.7 million in sales of research products at Lifeline Cell Technology (LCT) and $0.4 million in sales of skin care products at Lifeline Skin Care (LSC). For the full year 2011, total revenues were $4.5 million, derived from $2.1 million in product sales at LCT and $2.4 million at LSC. Sales of products at LCT increased 34% from 2010 driven by management’s efforts to improve the distribution channel and widen the customer base. Sales of skin care products declined during the second half of 2011, down to $0.8 million from $1.6 million in the first half of the year. (more…)

Financial Position

On March 15, 2012, InVivo Therapeutics (NVIV.OB) reported financial results for the full year 2011. The company reported no revenues in 2011, as expected. For the year ended December 31, 2011, net loss was $34.7 million, or $0.67 per share. Net loss for the year included a non-cash derivative loss of $26.1 million reflecting increases in the fair value of the derivative warrant liability. Excluding this non-cash derivative loss, the pro forma net loss for the year ended December 31, 2011 was $8.7 million, or $0.17 per share. (more…)

I recommend avoiding shares of Osiris Therapeutics (OSIR). I believe the stock is meaningfully over-valued at this price, and I see potential clinical failures, the dissolution of the development partnership with Sanofi Aventis, and subsequent dilutive cash raises as catalysts to drive the shares significantly lower. (more…)

On March 8, 2012, Depomed (DEPO) reported financial results for the fourth quarter 2011. Total revenues in the fourth quarter were $12.1 million, in-line with our expectations. Revenues consisted of $0.5 million in sales of Gralise, $7.6 million in royalties from Santarus on Glumetza, and $4.0 million in licensing and collaborative payments. Royalties on Glumetza ($28.5 million in sales in the fourth quarter 2011 at Santarus) were greater than expected. Sales of Gralise were essentially in-line. We note that Gralise reported sales tracked below the prescription trends based on the company s co-pay assistance program designed to lower the out-of- pocket expense that patients pay for Gralise, bringing the drug more in-line with generic gabapentin, and the lower cost titration starter pack. (more…)

We are expecting Zalicus, Inc. (ZLCS) to offer-up a steady flow of news over the next several months, with the key event being the release of top-line data from the phase 2b SYNERGY trial expected in the third quarter 2012. (more…)

Merger With Oncogenerix, Inc.

In January 2012, DARA Bio (DARA) announced it has entered into a transaction to merge with privately-held Oncogenerix, Inc. of Mount Pleasant, SC. Oncogenerix is a specialty bio-pharmaceutical company focused on the identification, development and commercialization of branded and generic oncological bio-pharmaceutical products. Oncogenerix is presently engaged in two key areas of product development, oral liquid formulations of U.S. Food and Drug Administration (FDA) approved products and sterile injectable cytotoxics. Oncogenerix is now a wholly-owned subsidiary of DARA Bio. (more…)

This article is a recap of events currently underway in the Hepatitis C arena compiled with facts from industry experts and articles over the last several weeks about what is currently talking place right now. (more…)