Pfenex Inc (PFNX) announced its most recent quarterly financial results on Wednesday, Mar-15-2017. PFNX said it had a profit of $-0.45 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $-0.58. The company posted revenue of $5.47 million in the period, compared to analysts expectations of $2.50 million. PFNX’s revenue was up 67.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.37 EPS.
Several company insiders have filed Insider transactions , on Nov 22, 2016, Patricia Lady (Chief Accounting Officer) sold 2,000 shares at $9.87 per share price. According to the SEC, on Nov 15, 2016, Patrick K. Lucy (Chief Business Officer) sold 5,000 shares at $10.04 per share price. On Dec 2, 2015, Henry W. Jr. Talbot (VP of Operations) sold 2,000 shares at $15.08 per share price, according to the Form-4 filing with the securities and exchange commission.
Pfenex Inc opened for trading at $6.7 and hit $6.9999 on the upside on Wednesday, eventually ending the session at $6.89, with a gain of 2.99% or 0.2 points. The heightened volatility saw the trading volume jump to 77,322 shares. Company has a market cap of $161 M.
Pfenex Inc. is a clinical-stage biotechnology company. The Company is engaged in the development of biosimilar therapeutics and high-value and difficult to manufacture proteins. The Company’s lead product candidate is PF582 a biosimilar candidate to Lucentis (ranibizumab). The Company is conducting a Phase Ib/IIa trial for PF582 in patients with wet age-related macular degeneration (wet AMD). The Company’s next most advanced product candidate is PF530 a biosimilar candidate to Betaseron (interferon beta-1b). The Company’s pipeline includes five other preclinical biosimilar products under development such as PF726 PF529 PF688 PF694 and PF444. It is also developing a vaccine Px563L which is an anthrax vaccine candidate; a generic product PF708 and next generation biologic candidates. The Company’s product candidates are enabled by its patented protein production platform Pfenex Expression Technology.