Aratana Therapeutics Inc (NASDAQ:PETX)
Aratana Therapeutics, Inc. (PETX), a development-stage biopharmaceutical company yesterday reported their fourth quarter and full year 2016 financial results. Aratana reported adjusted fourth quarter earnings of a loss of $0.35 per share which beat analyst expectations of a loss of $0.43 per share. Aratana reported fourth quarter revenues of $292,000 which fell short of analyst expectations of $923,000.
Aratana Therapeutics, Inc. CEO’s Comments
“In 2016, Aratana distinguished itself as a pioneer in the animal health industry by achieving three FDA approvals for innovative pet therapeutics in a single year,” stated Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. “In 2017, we aim to commercialize our approved therapeutics and continue to progress our deep pipeline of development-stage therapeutic candidates.” PR Newswire
PETX Technical Analysis
PETX opened trading yesterday at $6.82 which was exactly the same as the previous day’s trading close. Shares closed trading yesterday at $6.95 and spiked down after market to $6.40, equivalent to a 8% decrease from the closing price. Taking a look at the daily chart we can see that the last time PETX traded below these levels we have to go all the way back to February 17th, when it traded at $6.34.
Taking a closer look at the daily chart we can see that before the spike down PETX had already been in an overall downward trend dating back to February 3rd when it traded at $8.03. PETX has a float of 31.57 million shares and traded below the normal daily trading volume on Monday.
For trading purposes, I would like to see PETX open trading on Tuesday below $6.60 and if it does I would be looking to take a short position at the bell. My stop loss would be $0.10 from my entry position fearing anything more than that and the stock would start to fill in the gap down.
Company Profile
Aratana Therapeutics, Inc., a development-stage biopharmaceutical company, focuses on the licensing, development, and commercialization of biopharmaceutical products for the companion animals worldwide. Its product portfolio includes various therapeutic candidates consisting of small molecule pharmaceuticals and large molecule biologics that target various opportunities in serious medical conditions in pets.
The company develops AT-001, a prostaglandin E2 EP4 receptor antagonist, to treat osteoarthritis pain and inflammation in dogs, as well as degenerative joint disease in cats; AT-002, a ghrelin agonist for appetite stimulation in dogs, as well as for weight gain in cats and dogs; AT-003, a bupivacaine liposome injectable suspension for the treatment of post-operative pain in dogs and cats; AT-004, a caninized monoclonal antibody for the treatment of B-cell lymphoma in dogs; and AT-005, a caninized monoclonal antibody for the treatment of T-cell lymphoma in dogs.
It also develops AT-014, a novel her2/neu-directed cancer immunotherapy for the treatment of canine osteosarcoma and other cancers in dogs; AT-016 that provides long-term relief of pain and disability caused by osteoarthritis through regeneration of joint damage in dogs; and AT-018, an oral CRTH2 antagonist for the treatment of atopic dermatitis in dogs.
In addition, the company develops products for the treatment of lymphoma and other cancers in multiple species, canine allergy, feline calicivirus, feline herpesvirus, feline immunodeficiency virus, and periodontal disease. Aratana Therapeutics, Inc. was founded in 2010 and is headquartered in Leawood, Kansas.