Leading Healthcare Stocks Investor’s Alert: Pfizer Inc.(NYSE:PFE), CytRx Corporation (NASDAQ:CYTR)
On Tuesday, Pfizer Inc.(NYSE:PFE), lost – 0.50% to $33.61& CytRx Corporation (NASDAQ:CYTR), dropped -1.57% to $0.515.
During the last trading session Pfizer the minimum price at which share is traded was $ 32.88 and peak price of the day was $ 33.72. On May 2, 2017, Pfizer Inc. (PFE) stated financial results for first-quarter 2017 and reaffirmed its 2017 financial guidance.
On June 24, 2016, Pfizer attained Anacor Pharmaceuticals, Inc. (Anacor). Therefore, financial results for first-quarter 2017 reflect three months of legacy Anacor operations, which were immaterial.
On September 28, 2016, Pfizer attained Medivation, Inc. (Medivation). Therefore, financial results for first-quarter 2017 reflect three months of legacy Medivation operations.
QUARTERLY FINANCIAL HIGHLIGHTS (First-Quarter 2017 vs. First-Quarter 2016)
First-quarter 2017 revenues totaled $12.8 billion, a depreciate of $226 million, or 2% contrast to the prior-year quarter, reflecting an operational depreciate of $110 million, or 1%, and the unfavorable impact of foreign exchange of $116 million, or 1%.
Apart From the revenues for HIS in both periods and the unfavorable impact of foreign exchange, first-quarter 2017 revenues raised by $97 million, or 1%. First-quarter 2017 revenues apart from the net impact of acquisitions and divestitures accomplished in 2016 and 2017 were flat operationally contrast to first-quarter 2016.
Of note, there was one less selling day in the U.S. and two fewer selling days in international markets during first-quarter 2017 contrast to first-quarter 2016, resulting in a negative impact on first-quarter 2017 revenues of about $300 million contrast to the prior-year quarter. Full-year 2017 will have one less U.S. selling day and one less international selling day contrast to full-year 2016.
On the other hand, CytRx Corporation (NASDAQ:CYTR), is a biopharmaceutical research and development company specializing in oncology. The Company has 141.32M shares outstanding while EPS in next five years is expected to reach 0.00% while EPS growth in past 5 year was 4.80%. On April 28, 2017, CytRx Corporation (CYTR), declared that it has priced a public offering of about 30 million shares of its common stock at a purchase price of $0.50 per share, for gross proceeds of about $15 million. The offering is predictable to close on or about May 2, 2017, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.
After deducting the placement agent’s fees and other estimated offering expenses payable by CytRx, the net proceeds to CytRx are anticipated to be about $13.8 million. CytRx intends to use the net proceeds from the offering for working capital and general corporate purposes, counting clinical and regulatory activities, new drug discovery activities, and possible future planned transactions.