US Stocks That Surged Higher This Week: $AMRN $NAK $AGEN

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Amarin Corporation Reports Quarterly And Half-Yearly Financial Results

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Amarin Corporation plc (NASDAQ:AMRN) surged 9.50% in the previous week. The company, on August 4 announced its quarterly and half-yearly financial results for the period ending June 30, 2020.

Until June 30, 2020, the company had $611.3 million total cash and investments. The outstanding debt is $23.0 million, which remains on royalty-like instrument.

The company reported $135.3 million quarterly net total revenue, while its half-yearly net total revenue came in at $290.3 million. This compares with $100.8 million quarterly net total revenue and $174.1 million half yearly net total revenue in 2019. There has been a positive change of 34% and 67%, respectively.

The company also reported an increase of 33% and 65%, in net product revenue for three months and six months, respectively. This increase is attributed to rise in VASCEPA sales in the U.S.

Northern Dynasty Minerals Hires Adam Chodos

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Northern Dynasty Minerals Ltd (NASDAQ:NAK) moved northwards 9.27% over the last one week. The company hired Adam Chodos on August 4, as its Executive Vice President for the Corporate Development division. Mr. Adam Chodos brings to the company, an experience of 19 years in investment banking advisory as well as corporate development.

Mr. Chodos has most recently served as the Director of Corporate Development in Teck Resources. Addition of Mr. Chodos to the company is seen strategically important since he also played a key role in over US$28 billion of mergers in various firms. He is known for expertise in capital markets transactions, divestitures and acquisitions.

His major role in the company will be leading the process for qualifying and securing major funding partner for NAK's Pebble Project in Alaska.

Agenus Closed Equity Investment Of $20 Million With Betta Pharma

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Agenus Inc (NASDAQ:AGEN) climbed 9.06% since last week. The company, on July 28 announced that it closed equity investment of $20 million at a price of $4.03 per share. Betta Pharmaceuticals closed this equity investment, adding the total received amount to $35 Million. Betta is the leading Pharma Company is China that is focussed on developing innovative therapies in oncology regime.

Last month, the two companies had announced their partnership. This equity investment by Betta is seen as a part of that agreement for broadening immuno-oncology partnership.

The partnership enables Agenus to receive around $100 million as a part of potential milestones along with royalties generated on net sales. Betta, in the meanwhile, receives exclusive rights for development and commercialization of zalifrelimab and balstilimab. These drugs can be developed as combination or independent therapies. Betta secures rights for development of drugs in greater China, including Taiwan, Macau, Hong Kong and Mainland China.

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The post US Stocks That Surged Higher This Week: $AMRN $NAK $AGEN appeared first on The Market Signals.

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