Top Gainers: XTL Biopharmaceuticals Ltd (ADR) (NASDAQ: XTLB), Qualstar Corporation (NASDAQ:QBAK), GlobeImmune Inc (NASDAQ:GBIM)
Dallas, Texas, 10/03/2014 (ustrademedia) – Recently, clinical-stage drug maker XTL Biopharmaceuticals Ltd (ADR) (NASDAQ:XTLB) announced results for its second quarter operation which ended on June 30, 2014. The drug maker has spent $40,000 towards R&D during the reporting quarter, as against the $25,000 it had spent for the comparable quarter last year. The increase has been linked to step up clinical trial efforts being pursued by the firm over the past quarter. This was offset by decrease in the General and administrative expenses. For reporting quarter, expenses under this header came in at $488,000 as against the $694,000 same time last year. Shares of XTL Biopharmaceuticals Ltd (ADR) (NASDAQ:XTLB) were up by whopping 104.85% to close at $3.38.
Automated magnetic tape drive maker Qualstar Corporation (NASDAQ:QBAK) filed its Form 10 K which reflected its annual report for FY14. The highlight of the report was the nearly 13.5 percent decreases in revenue for the full year 2014. Revenue came in at $10.9 million during FY14, as against the $12.6 million it had reported during FY13. Its top performing segment was the “power supply segment” which translated to 53.7 percent of total company revenues. The “tape library segment” contributed 46.3 percent to the firm coffers. Gross profit was also down to $2.6 million in FY14 as against the $3.5 million recorded in FY13.The dip in profitability has been linked to the increased inventory reserves which were caused by buyback of obsolete inventory from distributors. Shares of Qualstar Corporation (NASDAQ:QBAK) were up by 37.82% to close at $1.64.
Biotech firm GlobeImmune Inc (NASDAQ:GBIM) released a press note yesterday to convey that its President, Chief Executive Officer and Director Timothy C. Rodell M.D. would be representing the firm at the 13th Annual BioInvestor Forum. The convention is scheduled to be held on October 8th at the palace Hotel in California. Dr. Rodell is expected to take his listeners through the various drug candidates that the firm is attempting to develop currently. Company press note also indicated that the presentation would be aired live through a webcast. Shares of GlobeImmune Inc (NASDAQ:GBIM) were up by 36.69% to close at $10.73.