Research Desk Line-up: IsoRay Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Antares Pharma, Inc. (NASDAQ: ATRS), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ATRS. The Company announced on October 10, 2017, that it has entered into a definitive asset purchase agreement to sell the worldwide rights, including certain fixed assets, for the ZOMAJET™ needle-free auto-injector device to Saint-Prex, Switzerland headquartered Ferring Pharmaceutical for up to $14.5 million. For immediate access to our complimentary reports, including today's coverage, register for free now at:
Discover more of our free reports coverage from other companies within the Medical Instruments & Supplies industry. Pro-TD has currently selected IsoRay, Inc. (NYSE AMER: ISR) for due-diligence and potential coverage as the Company announced on September 28, 2017, its financial results for Q4 FY17 and FY17 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on IsoRay when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ATRS; also brushing on ISR. Go directly to your stock of interest and access today's free coverage at:
Antares Pharma stated that as per terms of the agreement, Ferring Pharma will pay the purchase price in four installments consisting of a $2.0 million upfront payment, a second installment of $2.75 million payable, subject to satisfaction of certain conditions, a third installment of $4.75 million payable upon satisfaction of customary closing conditions and the final payment of $5.0 million would be made upon the completion of the transaction.
Until the date of this announcement, Antares has been the worldwide supplier of ZOMAJET™ devices to its partners Ferring Pharma and JCR Pharmaceutical Company Ltd, and it will continue to manufacture and supply the devices until the completion date pursuant to existing supply arrangements. During the completion period, Antares Pharma will continue to receive payment for ZOMAJET™ devices manufactured and supplied to its partners and a royalty on net product sales in accordance with the existing license and supply agreements. The transaction is subject to certain customary closing conditions and expected to be completed by the end of 2018.
Reason for Sale
Antares Pharma stated that the sale of a non-core legacy asset which represented approximately $5.5 million annual revenue in the past three years, will allow the Company to better focus its resources on several key strategic objectives which it believes have potential to increase shareholder value.
The transaction with Ferring Pharma will generate additional non-dilutive cash which the Company intends to use to invest in its pipeline in addition to supporting the potential launch of Antares' next proprietary product, XYOSTED, for testosterone replacement therapy. XYOSTED's New Drug Application is currently under active review at the US Food and Drug Administration (FDA) and the Company is working closely with the FDA toward a potential approval in October.
About Antares Pharma, Inc.
Antares Pharma focuses on self-administered parenteral pharmaceutical products. The Company's product, OTREXUP® (methotrexate) injection for subcutaneous use, is approved in the US for the treatment of adults with severe active rheumatoid arthritis, children with active polyarticular juvenile idiopathic arthritis, and adults with severe recalcitrant psoriasis. The Company's product Sumatriptan Injection USP is approved in the US for the acute treatment of a migraine and cluster headache and is distributed by Teva Pharmaceutical Industries, Ltd (Teva). Antares Pharma's technology platforms include VIBEX® disposable auto-injectors and disposable multi-use pen injectors. Antares Pharma has license, development, and supply agreements with Teva that include VIBEX® epinephrine, exenatide multi-dose pen, and teriparatide multi-dose pen. The Company is also working with AMAG Pharmaceuticals on a subcutaneous method for administering Makena, a progesterone product indicated for use in lowering the risk of pre-term birth.
About Ferring Pharmaceuticals
Ferring Pharma is a research-driven, specialty biopharmaceutical group active in global markets. Ferring has been developing treatments for mothers and babies for over 50 years, with over one third of the Company's research and development investment going towards finding innovative treatments to help mothers and babies from conception to birth. Ferring Pharma also identifies, develops, and markets innovative products in the areas of urology, gastroenterology, endocrinology, and orthopedics. The Company has its own operating subsidiaries in nearly 60 countries and markets its products in 110 countries.
Last Close Stock Review
Antares Pharma's share price finished yesterday's trading session at $3.94, marginally down 0.51%. A total volume of 2.33 million shares have exchanged hands, which was higher than the 3-month average volume of 1.38 million shares. The Company's stock price skyrocketed 20.49% in the last three months, 40.21% in the past six months, and 121.35% in the previous twelve months. Additionally, the stock soared 69.10% since the start of the year. The stock currently has a market cap of $630.91 million.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily