Argos Therapeutics (ARGS) Collapses on Experts’ Conclusions; Depomed (DEPO) Delivers Above-Consensus Profit
Shares of Argos Therapeutics Inc. (Nasdaq:ARGS) slumped more than 60% to touch a new 52-week low in pre-market trade Wednesday after the company said that an Independent Data Monitoring Committee concluded that the pivotal late-stage ADAPT clinical trial – evaluating its immunotherapy drug rocapuldencel-T in combination with sunitinib in metastatic renal cell carcinoma patients – is unlikely to meet the primary endpoint, recommending its discontinuation.
ARGS stock closed at $4.40, down $0.30 (or -6.38%) with a total volume of 431,300 shares traded on Tuesday.
Argos Therapeutics, an immuno-oncology company, has 41.25M shares outstanding, market capitalization (intraday) of $181.49M and ARGS stock one-year range was between $3.45 and $13.97 per share.
Depomed Inc. (Nasdaq:DEPO) shares climbed more than 5% in after-hours trading Tuesday as the company delivered in its financial results quarterly profit numbers above Wall Street analysts’ expectations.
For the fourth quarter 2016, the specialty pharmaceutical company posted revenues of $123.9 million, an 11.4% increase year over year, and non-GAAP adjusted income of $37.05 million, or $0.48 per share, compared to non-GAAP adjusted income of $10.7 million, or $0.16 per share in the same quarter the prior year, topping the Capital IQ Consensus Estimate of $0.36 earnings per share on revenues of $123 million for the period.
According to its business outlook, Depomed expects 2017 revenue to be between $490 million and $520 million.
DEPO stock finished Tuesday’s trading session in negative territory by 4.25% (or -$0.70) at $15.77.
Depomed, which engages in the development, sale, and licensing of products for pain and other central nervous system conditions, has 61.58M shares outstanding, market capitalization (intraday) of $971.13M and DEPO stock 52-week range is from $12.25 to $27.02 per share.
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