It’s an exciting week ahead for the biotech and technology sectors as three big players are scheduled to announce their quarterly financial results. What should investors watch out for this week?
RXI Pharmaceuticals Corp (NASDAQ:RXII):
RXI Pharmaceuticals is slated to announce its fourth quarter and year end 2014 financial results on Monday, March 30th after market close. The company is expected to post a loss of -$0.14 a share, up from a loss of -$0.36 a share the same quarter a year prior.
RXI Pharmaceuticals is a biotechnology company who focuses on developing therapies related to dermatology and ophthalmology. On March 23rd, the company reported several significant advancements within its dermatological programs at the annual meeting of the American Academy of Dermatology in San Francisco, California. Most notably, the company addressed the study of the clinical effect of RXI-109 versus a placebo in reducing recurring keloids following a Keloidectomy. The study showed that during a four week trial, keloids treated with RXI-109 reduced at a faster rate than keloids treated with a placebo. The company will move forward with the study using stronger doses of RXI-109.
The company also revealed it has reached a partnership with Dr. James Krueger of The Rockefeller University and Dr. Maria Hordinsky of the University of Minnesota for the studies of the effects of Samcyprone on the changes in gene expression profiles influenced by diphencyprone and in the treatment of alopecia areata, respectively.
Despite this, RXI Pharmaceuticals shares dropped 5.15% at the end of trading on March 27th.
Currently there is not enough data available to determine the analyst consensus for RXII.
Titan Pharmaceuticals, Inc. (OTCBB:TTNP):
Titan Pharmaceuticals is set to announce its fourth quarter and full year 2014 earnings results on Wednesday, April 1st before the opening bell. The company is expected to post a loss of -$0.01 a share, down from $0.00 the same quarter last year.
Titan Pharmaceuticals is a biomedical pharmaceutical company most known for its flagship drug, Probuphine, used to treat opioid addiction. Probuphine has proved to be effective in two clinical studies and one safety study. Titan is in the process of completing one more clinical study before receiving FDA approval, which is expected to be completed by mid-2015.
Currently opioid deterring medications, such as Suboxone, require daily patient compliance. This decreases the patient’s chance of successfully completing the regime. Probuphine is a six-month implant that eliminates the possibility of patients terminating treatment on their own, making it attractive to investors.
On average, the top analyst consensus for Titan Pharmaceuticals on TipRanks is Strong Buy.
Micron Technology, Inc. (NASDAQ:MU):
Micron is scheduled to announce its second quarter 2015 financial results on Thursday, April 2nd after market close. The company is expected to post earnings of $0.79 a share, down from $0.85 a share the same quarter a year prior.
Micron is best known for producing semiconductor devices, including DRAM, SDRAM, flash memory chips, and SSDs. On March 17th, the technology company announced a new line of “ultra” memory products intended to enable next-generation cars.
Just last week, Micron also announced with Intel (INTC) that 3D NAND technology, the world’s highest-density flash memory, is now available. 3D NAND technology is now expected to make a significant impact on Micron’s financials by simultaneously raking in more revenue while saving on costs.
On average, the top analyst consensus for Micron Technology on TipRanks is Moderate Buy.