Shares of Opko Health Inc. (NYSE:OPK) ended Friday session in green amid volatile trading. The shares closed up +0.34 points or 3.47% at $10.15 with 3.25 million shares getting traded. Post opening the session at $9.85, the shares hit an intraday low of $9.85 and an intraday high of $10.25 and the price vacillated in this range throughout the day. The company has a market cap of $5.75 billion and the numbers of outstanding shares have been calculated to be 547.44 million shares.
Opko Health Inc. (OPK) on May 11, 2016 announced the appointment of Douglass Laidlaw, PhD as Vice President of Medical Affairs to support the anticipated launch of RAYALDEE®.
Dr. Laidlaw has over 15 years of experience in leading strategic planning, development and execution of medical education initiatives for numerous pharmaceutical companies, including Relypsa, Keryx, Sanofi, Genzyme, Neurocine Biosciences, Serono and Organon. He has been involved in new product launches targeting patients with chronic kidney disease and has deep connections with key nephrology opinion leaders. Prior to joining OPKO, Dr. Laidlaw served as Relypsa’s Executive Director, Medical Affairs, and Sanofi’s National Director, Medical Science Liaisons, Medical Affairs.
“Doug is a key addition to the management team in OPKO’s Renal Division,” said Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO. “A well-conceived and executed medical education strategy is critical to Rayaldee’s acceptance by U.S. healthcare professionals.”
Shares of Hooper Holmes, Inc. (NYSEMKT:HH) ended Friday session in green amid volatile trading. The shares closed up +0.006 points or 5.91% at $0.104 with 298,457.00 shares getting traded. Post opening the session at $0.10, the shares hit an intraday low of $0.10 and an intraday high of $0.10 and the price vacillated in this range throughout the day. The company has a market cap of $14.14 million and the numbers of outstanding shares have been calculated to be 128.21 million shares.
Hooper Holmes, Inc. (HH) on May 12, 2016 announced financial results for the quarter ended March 31, 2016.
Consolidated revenues totaled $7.2 million for the first quarter of 2016, representing an increase of 27.5% compared to $5.7 million during the first quarter of 2015. The Company recorded a net loss of $3.4 million, or $0.03 per share for the first quarter of 2016 compared to a net loss of $2.1 million, or $0.03 per share for the first quarter of 2015. On an adjusted EBITDA basis, the Company’s net loss for the first quarter 2016 was $1.4 million, a 10.1% improvement compared to the first quarter 2015.
Gross profit for the 2016 first quarter increased approximately 100% to $1.5 million, compared to $0.7 million for the same period last year. As a percent of sales, gross profit was 20.2% compared to 12.9% for the 2015 first quarter. Selling, general and administrative expense for the three month period ending March 31, 2016, totaled $3.8 million compared to $2.7 million in the first quarter of 2015, reflecting the addition of staff and other expenses associated with increased revenues from the provision of portal, wellness and coaching services to direct customers.
As of March 31, 2016, cash and cash equivalents totaled $2.0 million, with $2.6 million in borrowings outstanding under the Company’s credit facility.
Henry Dubois, President and CEO of Hooper Holmes commented, “The results we announced this morning reflect strong revenue growth, higher gross margins, and improving adjusted EBITDA. The momentum in our business continues, and we are making progress towards our 2016 financial goals of revenue of $42+ million and positive adjusted EBITDA and operating cash flow. Looking ahead, we will continue to execute our business plan to improve financial performance and deliver significantly improved shareholder value.”