Today's Research Reports on Stocks to Watch: BioDelivery Sciences International and Zosano Pharma
NEW YORK, NY / ACCESSWIRE / May 30, 2017 / While still not anywhere the highs of 2015's boom, the Biotech Industry has shown some signs of a comeback in 2017. After a dismal 2016, the iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF have posted year-to-date gains of 8.61 and 16.1 percent, respectively. In comparison, the Dow Jones Industrial Average is up 6.67 percent year-to-date, while the S&P 500 Index has increased 7.91 percent.
RDI Initiates Coverage on:
BioDelivery Sciences International, Inc.
https://ub.rdinvesting.com/news/?ticker=BDSI
Zosano Pharma Corp.
https://ub.rdinvesting.com/news/?ticker=ZSAN
BioDelivery Sciences International's shares jumped 9.09 percent to close at $2.40 a share on Friday. The stock traded between $2.25 and $2.45 on volume of 1.11 million shares traded. The company reported a net income of $48.3 million for the first quarter of 2017, compared to a net loss of $18.7 million in the same quarter a year ago. BioDelivery had cash and cash equivalents of approximately $35.2 million at March 31, 2017. Shares of BioDelivery Sciences International have gained approximately 37.14 percent year-to-date.
"We completed a swift and effective transition of BELBUCA following the early January close of the transaction with Endo Pharmaceuticals (Endo), and by the end of the quarter, we were generating sufficient product revenue to offset the expense of our commercial business unit. In fact, we recorded the highest net sales revenue for BELBUCA since the product was launched over a year ago, and albeit early in the relaunch, it appears our focused selling approach and commercial strategy are working. These efforts led to first quarter sales of $4.6 million in comparison to what would have been approximately $640 thousand in royalties had we not reacquired the product," commented Dr. Mark A. Sirgo, President and Chief Executive Officer.
Access RDI's BioDelivery Sciences International Research Report at:
https://ub.rdinvesting.com/news/?ticker=BDSI
Zosano Pharma's shares spiked 12.03 percent to close at $1.49 a share on Friday. The stock traded between $1.40 and $1.57 on volume of 3.33 million shares traded. Zosano Pharma is an emerging CNS company focusing on providing rapid symptom relief to patients, using known therapeutics with well-established safety and efficacy, but altering their delivery profile using the Company's proprietary transdermal delivery system. The company reported a net loss of $7.0 million, or a loss of $0.34 per share, for the first quarter of 2017, compared with a net loss of $8.1 million, or a loss of $0.68 per share, for the same quarter a year ago. As of March 31, 2017, Zosano Pharma had cash and cash equivalents of $37.3 million, and debt of $11.2 million. Shares of Zosano Pharma have gained approximately 91.03 percent year-to-date.
Access RDI's Zosano Pharma Research Report at:
https://ub.rdinvesting.com/news/?ticker=ZSAN
Our Actionable Research on BioDelivery Sciences International, Inc. (NASDAQ: BDSI) and Zosano Pharma Corp. (NASDAQ: ZSAN) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
