Numbers Behind Bilibili (BILI); INVIMA Responds to Hancock Jaffe (HJLI); Heat Biologics (HTBX) Stock Offering; Intellipharmaceutics (IPCI) Distribution Deals for Non-US Generics
For the third quarter 2018, Bilibili Inc. (Nasdaq:BILI) reported net revenues of RMB1,078.8 million ($157.1M), a 48% increase year over year, and adjusted net loss of RMB202.7 million ($29.5M), compared to adjusted net loss of RMB2.9 million in the same period the prior year
Bilibili said that it is seeing a more balanced revenue mix with increased revenue contribution from advertising and live broadcasting and value-added services streams.
Bilibili shares tumbled over 5% in the extended session Tuesday, following the release of its financial results.
Bilibili is a leading online entertainment platform for young generations - covering a wide array of genres and media formats, including videos, live broadcasting and mobile games - in China.
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Hancock Jaffe Laboratories Inc. (Nasdaq:HJLI) said Tuesday that it has received an update from INVIMA (the Colombian equivalent of the U.S. FDA) in Bogota on the status of the company’s application for its first-in-human trial for the VenoValve.
INVIMA officials confirmed that its members have completed their review of HJLI's application and have no substantive issues or questions at this time. The next step is for HJLI's application to be presented for approval to INVIMA’s Medical Device and Other Technologies Committee at its upcoming December meeting.
After HJLI's application for the first-in-human trial is approved by INVIMA, patient enrollment will begin immediately. HJLI's VenoValves for the first-in-human trial have been manufactured and inspected, and are ready for shipment.
HJLI is developing the VenoValve to treat severe cases of Chronic Venous Insufficiency a condition that occurs when the valves in the veins of deep venous system of the leg are injured or destroyed, causing blood to pool in the lower extremities.
HJLI specializes in developing and manufacturing bioprosthetic medical devices to establish improved standards of care for treating cardiac and vascular diseases.
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Shares of Heat Biologics, Inc. (Nasdaq:HTBX) plunged more than 25% in after-hours trading Tuesday as the company said that it intends to offer for sale its common stock and warrants to purchase shares of its common stock in an underwritten public offering.
Heat Biologics intends to use the net proceeds from this offering to fund, among other things, its and its subsidiaries' preclinical and clinical programs and for working capital and general corporate purposes.
Heat Biologics is a biopharmaceutical company developing immunotherapies designed to activate a patient's immune system against cancer using of CD8+ ''Killer'' T-cells. Our T-Cell Activation Platform (TCAP) produces therapies designed to turn ''cold'' tumors ''hot'' and be administered in combination with checkpoint inhibitors and other immuno-modulators to increase their effectiveness.
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Intellipharmaceutics International Inc. (Nasdaq:IPCI) (TSX:IPCI) said after the closing bell Tuesday that it has entered into two exclusive licensing and distribution agreements with pharmaceutical distributors in Malaysia and Vietnam for non-US generics in these markets.
A Malaysian pharmaceutical distribution company has been granted the exclusive right, subject to regulatory approval, to import and market Intellipharmaceutics' generic Seroquel XR (quetiapine fumarate extended-release) in Malaysia.
Similarly, a Vietnamese pharmaceutical distributor, has been granted the exclusive right, subject to regulatory approval, to import and market Intellipharmaceutics' generic Seroquel XR, Glucophage XR, and Keppra XR in Vietnam.
Financial terms of the agreements have not been disclosed.
Intellipharmaceutics International is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs.
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