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Jan. 28, 2014, 2:12 PM
- SciClone Pharma (SCLN +17.3%) surges as Aegis Capital maintains its Buy rating and $8 price target amid the recent change in its principal auditor.
- PwC China replaced PwC U.S. as SCLN's auditor on Jan. 24, which the firm says complies with the guidelines of the Public Company Accounting Oversight Board as operations are almost exclusively in China and PwC China is the principal auditor under applicable auditing standards.
- The firm notes there is no disagreement between SCLN and PwC U.S., and the transition should cause no disruption in the auditing process.
Jan. 28, 2014, 12:45 PM
Jan. 24, 2014, 5:39 PM
Nov. 12, 2013, 3:16 PM
- SciClone Pharmaceuticals (SCLN +6.4%) enjoys a decent session after reporting Q3 results.
- Q3 Zadaxin sales: $25M. That's +15% sequentially, but -20% Y/Y. CEO Friedhelm Blobel notes that while SCLN "expects to see continued growth through the remainder of the year, [the company] expects the rate of growth to continue to be affected by external economic and industry factors."
- SCLN says it is pleased with "negotiations to restructure promotion partnerships with Baxter and Pfizer" and notes that the agreement with Sanofi will expire at year end (this may affect Q4 revenue and EPS depending on how "transition discussions" turn out).
- FY13 revenue and EPS guidance confirmed (although at the low-end of the range): $0.55-0.61/share on sales of $135-145M. (PR)
- Aegis cuts its price target to $8 from $9 citing uncertainty regarding the operating environment in China. Analyst Raghuram Selvaraju sees the expiration of the Sanofi deal shaving $25M off annual revenue.
Aug. 7, 2013, 12:31 PM
Aug. 7, 2013, 9:25 AM
- SciClone Pharmaceuticals (SCLN) rises 14% premarket on the heels of its Q2 report.
- CEO Friedhelm Blobel notes that although H1 revenue performance was "disappointing," the Zadaxin channel inventory build-up responsible for sluggish sales growth has been "resolved."
- FY13 guidance: Zadaxin sales should "rebound" in H2, growing 50% versus H1. FY13 revenues are seen at $135-145M. Full year adjusted EPS should come in between $0.55-0.61.
- The company also says it will file its previously delayed Q1 10-Q "on or around" August 9 after consulting with the SEC. (PR)
Jul. 16, 2013, 3:27 PM
SciClone Pharmaceuticals, Inc. engages in the development of therapeutics treatment for cancer and infectious diseases. Its product portforlio includes ZADAXIN, Holxan, Mesna, Endoxan, Farlutal, Methotrexate. Estracyt, Aggrastat, and DC Bead. The company was founded in 1990 and is headquartered... More
Industry: Drug Manufacturers - Other
Country: United States
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