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Amylin Pharmaceuticals (Nasdaq: AMLN) Trading at $13.44, Up $2.12 along with Eli Lilly and Company (NYSE: LLY) and Alkermes, Inc. (Nasdaq: ALKS) Trading at $12.14, Up $0.32. Today announced positive results from DURATION-2, the second in a series of studies designed to test the superiority of exenatide once weekly, an investigational diabetes therapy, as compared to other diabetes medications.
What They Do: Amylin, Lilly, and Alkermes are working together to develop exenatide once weekly, a subcutaneous injection of exenatide for the treatment of type 2 diabetes based on Alkermes' proprietary technology for long-acting medications. Exenatide once weekly is not currently approved by any regulatory agencies.
Amylin Pharmaceuticals is a biopharmaceutical company committed to improving lives through the discovery, development and commercialization of innovative medicines. Amylin's research and development activities leverage the company's expertise in metabolism to develop potential therapies to treat diabetes and obesity. Amylin is headquartered in San Diego, California.
Alkermes, Inc. is a fully integrated biotechnology company committed to developing innovative medicines to improve patients' lives. Alkermes' robust pipeline includes extended-release injectable, pulmonary and oral products for the treatment of prevalent, chronic diseases, such as central nervous system disorders, addiction and diabetes. Headquartered in Cambridge, Massachusetts, Alkermes has research facilities in Massachusetts and a commercial manufacturing facility in Ohio.
TBS International Limited (Nasdaq: TBSI) Trading at $7.54, Up $1.05. Today announced its financial and operating results for the fourth quarter and year ended December 31, 2008.
For the fourth quarter ended December 31, 2008, total revenues were $139.8 million, an increase of 22.2% compared to the $114.4 million for the same period in 2007. Net income for the fourth quarter 2008 was $34.6 million, a decrease of 1.7% compared to $35.2 million for the same period in 2007. Earnings per diluted share were $1.15 in the fourth quarter of 2008 compared to $1.26 for the fourth quarter 2007.
EBITDA, which is a non-GAAP measure, increased 31.6% to $62.9 million for the fourth quarter 2008 from $47.8 million in 2007. Please see "Non-GAAP Reconciliations - EBITDA" following the financial statements in this press release for a reconciliation of EBITDA to net income.
An average of 44 vessels (excluding off-hire) were operating during the fourth quarter of 2008 compared to 34 vessels (excluding off-hire) during the same period in 2007.
What They Do: TBS is a fully-integrated transportation service company that offers customers the TBS Five Star Service consisting of: ocean transportation, operations, logistics, port services, and strategic planning.
China Direct (Nasdaq: CDII) Trading at $1.25, Up $0.19. Today announced its financial results for the full year of 2008. For the full year of 2008, net income was $17.7 million (excluding non-cash charges related to impairment of securities available for sale, employee share based compensation and deductions related to the issuance of Preferred stock in February of 2008) as compared to $12.5 million in 2007.
Earnings applicable to common stockholders after deducting $1.2 million in preferred stock dividend payments were $16.5 million resulting in non-GAAP earnings per basic share of $0.73, as compared to $12.5 million or $0.79 per basic share for the same period in 2007 on 6.8 million fewer shares. Net income for the year ended December 31, 2008 was $11.4 million on a GAAP basis after including $6.3 million in non-cash charges related to other-than-temporary write downs of marketable securities held for sale and stock based compensation.
What They Do: China Direct, Inc., d/b/a China Direct Industries, is a U.S. owned, rapidly growing holding company operating in China in two core business segments, pure magnesium production and distribution and the distribution of basic materials in China.
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