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Aeterna Zentaris (Nasdaq: AEZS) $1.79. Today announced along with Yakult Honsha Co., Ltd. the signing of an exclusive development, commercialization and licensing agreement for the development, registration and marketing of perifosine, Aeterna Zentaris' lead anti-cancer compound, for Japan. Perifosine, a novel oral PI3K/Akt inhibitor, is currently in two Phase 3 programs for the treatment of colorectal cancer and multiple myeloma in the United States and Europe.
Under the terms of the agreement, Aeterna Zentaris will receive an initial 6 million Euro (US$ 8.3 M) upfront payment and will be entitled to receive additional up to 44 million Euro (US$ 60.9 M) payments upon achieving certain pre-established milestones including clinical and regulatory events in Japan. Furthermore, Aeterna Zentaris will be supplying perifosine to Yakult Honsha on a cost-plus-basis and be entitled to receive double-digit royalties on future net sales of perifosine in Japan. Yakult Honsha will be responsible for the development, registration and commercialization in Japan.
What They Do: Aeterna Zentaris is a late-stage oncology drug development company currently investigating potential treatments for various cancers including colorectal, ovarian, endometrial cancer and multiple myeloma.
Hercules Offshore (Nasdaq: HERO) Today announced a loss from continuing operations of $84.6 million, or $0.74 per diluted share, on revenue of $172.3 million for the fourth quarter 2010, compared with a loss from continuing operations of $26.9 million, or $0.23 per diluted share, on revenue of $176.4 million for the fourth quarter 2009. Fourth quarter 2010 includes a non-cash impairment charge on property and equipment of $125.1 million. On an after tax basis, this adjustment approximated $81.3 million, or $0.71 per diluted share.
When adjusting for the impairment charge outlined in the Reconciliation of GAAP to Non-GAAP Financial Measures, the Company reported a loss from continuing operations of $3.3 million, or $0.03 per diluted share for the fourth quarter 2010, compared to a loss of $25.8 million, or $0.23 per diluted share for the fourth quarter 2009.
For the twelve month period ended December 31, 2010, the Company reported a loss from continuing operations of $134.6 million, or $1.17 per diluted share, on revenue of $657.5 million, versus a loss from continuing operations of $90.1 million or $0.93 per share on revenue of $742.9 million for the twelve month period ended December 31, 2009. When adjusting for certain items outlined in the Reconciliation of GAAP to Non-GAAP Financial Measures, the Company reported a loss from continuing operations of $53.3 million, or $0.46 per diluted share, for the twelve month period ended December 31, 2010, compared to $75.2 million, or $0.77 per diluted share, for the twelve month period ended December 31, 2009.
What They Do: Hercules Offshore, Inc. operates a fleet of 30 jackup rigs, 17 barge rigs, 65 liftboats, three submersible rigs, one platform rig and a fleet of marine support vessels.
Ceradyne (Nasdaq: CRDN) $38.85. Today announced it is raising its 2011 guidance. Ceradyne, Inc. management is adjusting its 2011 guidance to a range of $2.35 per fully diluted share to approximately $2.70 per fully diluted share, and sales from $505 million to $560 million.
This guidance is increased from prior guidance of $1.50 per fully diluted share to approximately $1.90 per fully diluted share, and sales from $470 million to $540 million on January 10, 2011 and reiterated on February 24, 2011.
What They Do: Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, energy, automotive/diesel, and commercial applications.
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