Lakeway, NY -- (SBWIRE) -- 02/20/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Baidu.com, Inc. (ADR) (NASDAQ:BIDU) shares fell by $1.77 or 1.92% to $90.41 in the afternoon session following the downgrade by CLSA.
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CLSA held increased competition from Alibaba's new search engine, increased investments from the shift towards smartphones, and slowing earnings growth to be behind the downgrade.
They allotted a rice target of $105 per share.
Curis, Inc. (NASDAQ:CRIS) today reported its financial results for the fourth quarter and year ended December 31, 2012.
Is CRIS a Strong After The recent price Movement? Let’s Find out Here
For the year ended December 31, 2012, Curis reported a net loss of $16.4 million, or ($0.21) per basic and fully diluted share, as compared to a net loss of $9.9 million or ($0.13) per basic and fully diluted share for the year ended December 31, 2011. The 2012 net loss included a one-time expense of $9.5 million pursuant to the Company's November 2012 CUDC-427 license agreement with Genentech. Revenue jumped by 82% to $17 million. Research and development expenses were $15.5 million for the year. During the year ended December 31, 2012, the Company incurred $2.1 million in sublicense expenses related to its obligations to university licensors as compared to $700,000 for the prior year. In addition, stock-based compensation increased $350,000 over the prior year primarily related to the expense recognized on unvested non-employee stock options.
For the fourth quarter of 2012, Curis reported a net loss of $12.4 million, or ($0.15) per share on both a basic and fully diluted basis, as compared to net income of $6.1 million or $0.08 per basic share and $0.07 per fully diluted share for the same period in 2011. Revenue was $1.7 million, as compared to $14.1 million for the same period in 2011. Research and development expenses were$2.7 million.
Curis expects to end 2013 with cash, cash equivalents and investments of $31 to $36 million, excluding potential future milestone payments from existing or new collaborators. Curis expects that 2013 research and development expenses will be $16 to $20 million and that general and administrative expenses will be $10 to $12 million. These expense expectations include approximately $800,000 and $1.9 million of stock-based compensation expense in research and development and general and administrative expense, respectively.
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