Today’s Research Reports on Stocks to Watch: Portola Pharmaceuticals and Idera Pharmaceuticals
Portola Pharmaceuticals were deep in the red on Thursday after reporting second quarter results that revealed revenue and earnings miss. Idera Pharmaceuticals shares were rising after announcing that the company would be a part of a fireside chat in NYC next week. The company also reported second quarter results last week that revealed a positive earnings surprise.
RDI Initiates Coverage on:
Portola Pharmaceuticals, Inc.
Idera Pharmaceuticals, Inc.
Portola Pharmaceuticals, Inc. shares closed down 18.32% yesterday on almost 7.3 million shares traded. The pharmaceutical company reported second quarter results that revealed a quarterly loss of $1.61 per share versus the Zacks Consensus Estimate of a loss of $1.50. In the year ago quarter, Portola had seen a loss of $1.22 per share. Revenues of $4.01 million was also behind analysts’ expectations by about 30%. In the year ago quarter revenues were $3.79 million. Interim co-president and CFO, Mardi Dier, stated, "The second quarter of 2018 brought a significant addition to our product suite with the U.S. Food and Drug Administration’s Accelerated Approval of Andexxa and the initiation of our Early Supply Program. Together with Bevyxxa, we now have two FDA-approved, first-and-only medicines for their indications in the field of thrombosis with the potential to impact public health. In the second half of the year, we remain focused on continuing to lay the foundation for the U.S. launch of Bevyxxa and preparing for a number of significant milestones, including our regulatory submission in the U.S. for the Generation 2 Andexxa product, review and potential approval for andexanet alfa in Europe, and determining the development and regulatory path forward for cerdulatinib, our Syk/JAK inhibitor and the third novel compound discovered in our labs.”
Access RDI’s Portola Pharmaceuticals, Inc. Research Report at:
Idera Pharmaceuticals, Inc. shares were up nearly 27% at the close on Thursday on significant trading volume. The stock traded around 2.1 million shares compared to an average trading volume of roughly 300,000 shares. The pharmaceutical company focused on the development and commercialization of its proprietary immune modulator, tilsotolimod, for the treatment of cancer, said that it will be participating in a fireside chat, led by CEO Vincent Milano, at the 2018 Wedbush PacGrow Healthcare Conference on Tuesday, August 14, 2018 in NYC. It was last week that the company reported second quarter results, revealing a quarterly loss of 59 cents a share. Analysts had been expecting a loss of 80 cents a share. In the year ago quarter, the company had seen a $1.12 loss per share. Revenues however of $0.16 million for the quarter, missed the Zacks Consensus Estimate by 9.44%.
Access RDI’s Idera Pharmaceuticals, Inc. Research Report at:
Our Actionable Research on Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) and Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) can be downloaded free of charge at Research Driven Investing.
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