real-time news and commentary for investors
Thursday, Aug 15
Portola Pharmaceuticals ticks up despite missing on its Q2 results
- Portola Pharmaceuticals (PTLA +1.4%) moves higher today despite posting a Q2 net loss that came in higher than expectations.
- Collaboration revenue totaled $2.6M, earned under the company's agreements with Bristol-Myers Squibb and Pfizer, Bayer Pharma and Jansen Pharmaceuticals, Daiichi Sankyo and Lee's Pharmaceutical.
- In Q2, 2012, PTLA earned $66.9M in revenues through its collaboration with Novartis at was terminated July 1, 2012.
- Cash and equivalents were $235.2M compared with $137.4M as of December 31, 2012.