Oncomed Pharmaceuticals Inc (OMED) reported quarterly earnings results on Thursday, May-5-2016. The company reported $-0.90 earnings per share for the quarter, missing the analyst consensus estimate by $-0.15. Analysts had a consensus of $-0.75. The company posted revenue of $6.40 million in the period, compared to analysts expectations of $6.75 million. The company’s revenue was down -34.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.49 EPS.
Oncomed Pharmaceuticals Inc closed down -0.36 points or -3.06% at $11.4 with 1,89,267 shares getting traded on Wednesday. Post opening the session at $11.7, the shares hit an intraday low of $11.05 and an intraday high of $11.781 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jan 12, 2016, Jakob Dupont (SVP & Chief Medical Officer) sold 2,500 shares at $20.01 per share price. According to the SEC, on Jan 8, 2016, Austin Gurney (officer ) sold 2,162 shares at $21.72 per share price. On Jan 8, 2016, Timothy Hoey (SVP, Cancer Biology) sold 2,162 shares at $21.73 per share price, according to the Form-4 filing with the securities and exchange commission.
OncoMed Pharmaceuticals Inc. (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing protein therapeutics targeting cancer stem cells (CSCs). The Company’s product candidates target CSCs by blocking self-renewal and driving differentiation of CSCs toward a non-tumorigenic state and also impact bulk tumor cells. Its technology is used to identify isolate and evaluate CSCs; identify and/or validate multiple potential targets and pathways critical to CSC self-renewal and differentiation and develop targeted antibody and other protein-based therapeutics that are designed to modulate these CSC targets and inhibit the growth of CSCs. The Company is also engaged in discovering multiple product candidates that target fundamental biological pathways in immuno-oncology. Its products include Demcizumab AntiDLL4/VEGF bispecific Tarextumab AntiNotch1 Vantictumab Ipafricept Wnt 3rd Biologic Wnt Small Molecules and AntiRSPO.