Stock #7 is doing very well.. ALXN, CMOS our earnings plays
ALXN.. Last four trading sessions have formed a symmetrical triangle. It had a significant triple top break out above 16 and moved to nearly 19 before consolidating once again but on very wide intraday ranges.
In the last 4 days, the Range has been decreasing and so has trading. Prices are 'coiled' hopefully to break out now that earnings were released (2.13% surprise). The only way to tell is by an increase in volume and resumption of its trading activity.
NEW HAVEN, Conn., Dec 10, 1999 /PRNewswire via COMTEX/ -- Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN) today announced the Company?s financial results for the first quarter ending October 31, 1999 of its current fiscal year.
During the first quarter, Alexion received contract research, license and grant revenues amounting to $6.3 million compared to $255,000 in revenues received in the same period ended October 31, 1998. The increase in revenues was due primarily to contract revenues received from Procter & Gamble in connection with our collaborative agreement on the C5 Complement Inhibitor 5G1.1-SC which is currently in clinical development in acute cardiovascular disease. Contract revenues included research and development support, clinical development and clinical manufacturing related expense reimbursements.
The Company?s research and development expenses for the three month period increased to $11.1 million from $3.8 million for the same period last year, due primarily to costs associated with the ongoing expanded clinical trials of the Company?s lead C5 Complement Inhibitors, 5G1.1-SC and 5G1.1, and manufacturing costs for the Company?s recombinant product candidates. General and administrative expenses were $615,000 for the quarter compared to $628,000 for the same period last year. The increase in research and development expenses in the quarter ending October 31, 1999 resulted in an increase in total operating expenses to $11.8 million compared to $4.4 million in the three month period ending October 31, 1998. As a result of the above factors, the Company incurred a net loss of $5.18 million or $0.46 per share for the quarter as compared to a net loss of $3.66 million or $0.33 per share for the same three-month period in 1998.
CMOS has fared better with a 4 point gap up and an a move from 63 from the beginning of the week to a high of 81 today. Now trading about 75 and halfway through its its intraday trading range. CMOS has been making new 52 week highs and is in a strong uptrend. Could most likely sell off for profit taking. |
