PDL BioPharma Inc (NASDAQ:PDLI) reported that it will hold its yearly meeting of stockholders on June 9, 2017, for stockholders as of record April 17, 2017. It has been over a month since the company posted quarterly earnings report. Shares have eroded almost all the gains recorded post-result in last couple of weeks.
Last month, PDL BioPharma reported financial numbers for the fourth quarter ended December 31, 2016. Revenues came at $66.5 million for the quarter closed December 31, 2016. GAAP diluted EPS came at ($0.06), GAAP net loss was $10.3 million while net income stood at $63.6 million for the quarter closed December 31, 2016. The loss attributable to the quarter closed December 31, 2016 was an outcome of impairment charge pertaining to Direct Flow Medical ‘Note’ receivable investment.
John P. McLaughlin, the CEO and President of PDL BioPharma, reported that last year was a transformational year for company; one in which they benefitted from opportunities in the specialty pharma market and noted it as another tool to enhance shareholder value. As the company look to 2017, the management will focus on Noden product commercialization, and acquiring additional specialty pharma resources, to achieve value creation for company and its shareholders.
More recently, PDL BioPharma reported that the firm’s board of directors has approved the repurchase of the company’s common stock up to $30 million through March 2018. As ARIAD Pharmaceuticals, Inc. was being bought by Takeda Pharmaceuticals Company Limited earlier in February, the company used its put option with ARIAD.
Now it will be compensated a projected amount of $110 million, which is over 1 times the original investment minus any amount paid to date. The company obtained royalty ayments of $9.3 million through December 31, 2016. PDL obtained a royalty payment of $14.2 million for Q1 2017 on sales of Tysabri®.
This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.