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Stocks to Watch, 04/18/2013, CRME, CPRX
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Monthly Archives: April 2013
Stocks to Watch 04/17/2013, ACUR, OCZ, FDA rules on OxyContin
OCZ Technology Issues Update for Investors
SAN JOSE, CA–(Marketwired – April 17, 2013) – OCZ Technology Group, Inc. (OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, provides business update for the fourth quarter of 2013.
The Company is disclosing certain preliminary information about its fourth quarter of fiscal 2013 that ended on February 28, 2013, subject to certain closing procedures and further review by the Company and its auditors. As previously reported the Company estimated that revenue in each of the unreported quarters ending August 31, 2012 and November 30, 2012 is in the range of $65 million to $85 million. This range takes into effect the impact of the reclassification of certain customer costs from operating expenses to revenue, the significant reduction in channel inventory, the timing of revenue recognition and reserves for product returns. The preliminary revenue range for the unreported fourth quarter of fiscal 2013 is estimated to be between $65 million and $70 million. The Company also expects positive gross margins for the fourth quarter. This is an indication that the operating adjustments regarding restructuring and the restatement are behind the Company. Gross margins will continue to improve in the coming quarters due to the streamlining of products and focus on enterprise business. Operating expenses are estimated to be between $23 million and $26 million for the fourth quarter and include non-recurring restatement related charges of approximately $4 million which includes the completion of the internal investigation and other legal matters. The company’s inventory levels also continued to improve as inventory on hand at the end of the fourth quarter was less than $50 million and channel inventory was at a 2-year low of less than $20 million.
Acura Pharmaceutical , ACUR
Acura Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the research, development, and commercialization of product candidates intended to address medication abuse and misuse utilizing its proprietary Aversion and Impede technologies. Its products include Oxecta Tablets CII, a Schedule II narcotic indicated for the management of acute and chronic moderate to severe pain; and Nexafed, an over-the-counter immediate-release pseudoephedrine HCl tablet that is used as a nasal decongestant in various non-prescription and prescription cold, sinus, and allergy products. The company has seven additional opioid products utilizing Aversion technology in various stages of development. Acura Pharmaceuticals, Inc. has a license, development, and commercialization agreement with King Pharmaceuticals Research and Development, Inc., a wholly-owned subsidiary of Pfizer Inc. to develop and commercialize certain opioid analgesic products utilizing the companys proprietary Aversion technology in the United States, Canada, and Mexico. The company was founded in 1935 and is based in Palatine, Illinois.
Source: company, OxBridge Research, Daily Stock Deals
Stocks to watch 04/16/2013, PGRX, KBX, ZIXI, CYTK, SVLC, GPL, more at Daily Stock Deals
Prospect Global Completes Senior Debt Restructuring
DENVER, April 16, 2013 /PRNewswire/ — Prospect Global Resources, Inc. (PGRX) announced today the successful restructuring of its long-term debt with the Karlsson Group (“KG”), advancing its long-term plan to build a potash mine in the Holbrook Basin of Arizona.
Key highlights include:
- Debt maturity extended to July 2015; interim principal payment of $30 million due January 2015
- Interim payments to KG decreased to 10% of any capital raised after $10 million of capital raised (previously 40% of any capital raised)
- Restructured $6.75 million Unsecured Notes from 3rd party to extend maturity dates, and reduced interim capital payments to 10% of any capital raised after $10 million of capital raised (previously 33% of any capital raised)
- The Company is required to meet interim financing milestones to fund the continued development of the Holbrook Basin project
“We are very pleased with the outcome of our restructuring efforts,” said Damon Barber, Prospect Global’s President and Chief Executive Officer. “The restructuring of our debt marks a significant step forward for the company. Despite the recent volatility in our stock price, we believe that we are now well positioned to move forward in building long-term value for all shareholders.”
About Prospect Global Resources, Inc.
Prospect Global Resources, Inc. is a Denver-based company engaged in the exploration and development of a large, high-quality potash deposit located in the Holbrook Basin of eastern Arizona. The company’s stock is traded on the NASDAQ Stock Exchange under the ticker symbol PGRX.
Additional details about Prospect Global Resources Inc. can be viewed at the Company’s website, www.prospectgri.com.
Kimber, KBX, owns mineral concessions covering in excess of 39,000 hectares in the prospective Sierra Madre gold-silver belt, including the Monterde property, where three gold-silver mineral resources have already been defined. The most advanced of these, the Carmen deposit, has been extensively drilled and has undergone detailed geologic modeling. The completion of the Updated Preliminary Economic Assessment for Monterde in 2011 represented a significant step forward for Kimber and supported further evaluation and more advanced economic studies at the Monterde deposits, with the recently filed 2012 Updated Mineral Resource Estimate Technical Report for the Carmen deposit representing a component of those activities.
Source:company, OxBridge Research, Daily Stock Deals
CPGI near 52WK highs, others stocks to watch on 04/15/2013, SGRP,CYTK,GETG
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Stock List for 04/12/2013, BCRX, MTSN, MBA, BEBE
RESEARCH TRIANGLE PARK, N.C.–(BUSINESS WIRE)–
BioCryst Pharmaceuticals, Inc. (BCRX) today announced that it received a preliminary comment letter from the U.S. Food & Drug Administration (FDA) that outlines a pathway by which BioCryst could file a New Drug Application (NDA) seeking regulatory approval of intravenous (i.v.) peramivir. The letter was sent in response to questions BioCryst submitted to the FDA in advance of an upcoming Type C regulatory meeting regarding i.v. peramivir. The FDA also suggested the Company request a pre-NDA meeting to reach agreement on a complete NDA submission and to address review issues identified in its preliminary comment letter.
BioCryst also received written notification from the Department of Health and Human Services in the form of a Stop-Work Order directing the Company to cease work on peramivir under its U.S. Government contract, except for certain activities primarily related to the upcoming FDA Type C meeting which is scheduled. The notification confirmed that the Biomedical Advanced Research and Development Authority (BARDA/HHS) will continue to support and fund certain activities that are necessary to achieve immediate milestones, as well as activities deemed essential to maintain compliance with FDA regulations or to fulfill pending FDA requests. Following an In-Process Review (IPR) meeting, which BioCryst anticipates in the second quarter, BARDA/HHS is expected to determine the path forward for the contract.
“We are encouraged by these recent communications, and we look forward to advancing our peramivir discussions with the FDA and BARDA/HHS. Our ultimate objective is the approval of peramivir as an intravenous treatment option that could benefit patients in the United States,” said Jon P. Stonehouse, President & Chief Executive Officer. “The Stop–Work Order is understandable, as it focuses the scope of reimbursable activities to those that are essential and supportive to continuing regulatory communications, with the objective of preparing an NDA submission. If the conversations with the FDA and BARDA/HHS are successful, BioCryst stands ready to file an NDA for peramivir as soon as feasible.”
Source: company, OxBridge Research, Daily Stock Deals
DOW 15000, the Greatest Bull Run in history! Where we go from here, DOW 20000?
The Dow’s price-to-earnings ratio stands at 15.62, according to the WSJ Market Data Group. That is below a level of 16.99 seen during blue chips’ 2007 high and 25 during 2000’s peak. Given its components’ earnings now, the Dow would have to climb to 15542 to hit its 2007 valuation—and 22869 to hit the 2000 level.
To be sure, a quick climb to 15000 would represent one of the bigger rallies in recent history for the Dow. That price would put the benchmark 14% above where it ended last year. The benchmark hasn’t gained that much in any calendar year since 2009, when stocks were rebounding from the depths of the financial crisis.
Steven Rees, head of U.S. equity strategy at J.P. Morgan Private Bank, said he and his team are urging clients to focus on the market’s fundamental characteristics, rather than getting caught up in price levels.
“The underlying drivers of equities are corporate profit growth and return of cash to shareholders,” said Mr. Rees, whose organization oversees about $877 billion. “Recent trends in earnings have come in better than expected. Dividends are accelerating. Share repurchases are starting to pick up, and [mergers-and-acquisitions] activity is also picking up, as well. You’re starting to see American companies be a little more optimistic about their outlook.”
While the Dow remains about 5% from 15000, another red-letter day for the market is within shorter reach. The Standard & Poor’s 500-stock index, regarded by many professional traders and investors as the true benchmark for U.S. equities, is about 1.5% off its all-time high.
Source:WSJ, OxBridge Research, Daily Stock Deals
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GOFF, Back to Earth, $GOFF, Golden Glory? Zero to $167 million dollar in 3 months
OXGN, OXBT, OxiGENE, Oxygen, double digit gainers for 09/10/2013, get more at Daily Stock Deals
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