Neothetics Inc(NASDAQ:NEOT) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Mar 23, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $-0.14. The reported EPS was above estimates by 30%. Analysts had estimated an EPS of $-0.2.
Neothetics Inc (NEOT) made into the market gainers list on Fridays trading session with the shares advancing 2.19% or 0.03 points. Due to strong positive momentum, the stock ended at $1.4, which is also near the day’s high of $1.4. The stock began the session at $1.35 and the volume stood at 12,200 shares. The 52-week high of the shares is $1.98 and the 52 week low is $0.56. The company has a current market capitalization of $19 M and it has 1,38,29,716 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Dec 21, 2015, Kenneth W Locke (Chief Scientific Officer) sold 598 shares at $1.26 per share price.Also, On Dec 21, 2015, Susan A. Knudson (Chief Financial Officer) sold 1,005 shares at $1.26 per share price.On Sep 22, 2015, Christopher Kemmerer (VP, Pharma Dev & Manufacturing) sold 1,000 shares at $12.19 per share price, according to the Form-4 filing with the securities and exchange commission.
Neothetics Inc. is a clinical-stage specialty pharmaceutical company. The Company develops therapeutics for the aesthetic market. The Company’s initial focus is on localized fat reduction and body contouring. The Company’s lead product candidate LIPO-202 is an injectable treatment for the reduction of central abdominal bulging due to subcutaneous fat in non-obese patients. The Company has completed Phase II development of LIPO-202. LIPO-202 is administered in a subcutaneous injection procedure that activates a natural metabolic process to shrink fat cells without killing them resulting in localized fat reduction measurable results within four weeks and minimal risk with no downtime. The Company is also developing another product candidate LIPO-102 an injectable form of a combination of salmeterol xinafoate and fluticasone propionate.