Key Developments: SciClone Pharmaceuticals Inc (SCLN.O)
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19 Jun 2013
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Latest Key Developments (Source: Significant Developments)
Sciclone Pharmaceuticals Inc Reaffirms FY 2013 Guidance
Sciclone Pharmaceuticals Inc announced that for fiscal 2013, it expects revenues between $150 and $155 million and expects non-GAAP earnings per share (EPS) to be between $0.66 and $0.72. SciClone's non-GAAP EPS forecast for 2013 excludes employee stock-based compensation and other expenses described in the Company's reconciliation of GAAP to non-GAAP income, which the Company is not able to reasonably estimate at this time for the full fiscal year. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $155 million for fiscal 2013. Full Article
Sciclone Pharmaceuticals Inc Announces Update On Filing Of 2012 Annual Report On Form 10-K
Sciclone Pharmaceuticals Inc announced that it is restating its financial statements for fiscal year 2011 and the first three quarters of fiscal 2012. The Company is in the process of completing the restatement of the financials and the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012. As a result of the Company's ongoing processes, the Company announced that it is filing a Form 12b-25, Notification of Late Filing, to inform the Securities and Exchange Commission that it will not be able to file its 2012 10-K by the prescribed due date of March 18, 2013 without unreasonable effort or expense. The Form 12b-25 filing allows the Company up to an additional 15 calendar days following the prescribed due date to file. SciClone intends to file its 2012 Form 10-K as soon as practicable. Full Article
Sciclone Pharmaceuticals Inc Issues FY 2013 Guidance; Revenue Guidance Below Analysts' Estimates
Sciclone Pharmaceuticals Inc announced that for fiscal 2013, it expects sales revenue of $150 million - $155 million and expects non-GAAP EPS of $0.66 - $0.72 per share. SciClone's non-GAAP EPS excludes employee stock-based compensation from GAAP EPS. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $157 million and EPS of $0.69 for fiscal 2013. Full Article
Sciclone Pharmaceuticals Inc Lowers FY 2012 Guidance
Sciclone Pharmaceuticals Inc revised down fiscal 2012 revenues to be between $152 and $157 million, from previously anticipated revenues of between $165 and 170 million. The Company also revised its previously anticipated non-GAAP earnings per share (EPS) for fiscal 2012 to be between $0.62 and $0.68 from the previously anticipated range of between $0.72 and $0.78. Full Article
Sciclone Pharmaceuticals Inc Announces Increase In Share Repurchase Plan
Sciclone Pharmaceuticals Inc announced that the Board of Directors approved an increase in the reserve for the share repurchase program of $10.0 million. Full Article
SciClone Pharmaceuticals Reaffirms FY 2012 Revenue Guidance; Issues FY 2012 EPS Guidance
SciClone Pharmaceuticals announced that for fiscal 2012, it expect revenues to be between $165-$170 million and expects non-GAAP earnings per share (EPS) to be between $0.72-$0.78. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of revenue of $168 million for fiscal 2012. Full Article
SciClone Pharmaceuticals Announces Results Of Interim Analysis Of Phase 2 SCV-07 Oral Mucositis Trial
SciClone Pharmaceuticals announced that results from a pre-planned interim analysis of the phase 2b trial of SCV-07 in patients with oral mucositis (OM) indicate that the trial would not meet the pre-specified efficacy endpoints. After conferring with the study's independent Data Monitoring Committee (DMC), the Company has decided to discontinue development of SCV-07 in this indication. SciClone is notifying the FDA and study investigators of the trial's discontinuation. No additional patients will be enrolled in the trial. Dosing of subjects currently enrolled in the trial will be discontinued, but subjects will be followed per protocol for a full year. Full Article
SciClone Pharmaceuticals Revises FY 2011 Revenue Guidance To A Range In Line With Analysts' Estimates; Issues FY 2012 Revenue Guidance In Line With Analysts' Estimates
SciClone Pharmaceuticals announced that for fiscal 2011, it expects revenues of approximately $134 million (unaudited) including revenues of NovaMed Pharmaceuticals, Inc. The Company anticipates fiscal 2012 sales revenue of $165 to $170 million. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of $133 million for fiscal 2011; revenue of $166 million for fiscal 2012. Full Article
SciClone Pharmaceuticals Reaffirms FY 2011 Guidance-Conference Call
SciClone Pharmaceuticals reaffirmed its previous guidance for fiscal 2011 and anticipates that GAAP revenue will be between $133 and $138 million. The Company is also reaffirming its guidance that its non-GAAP earnings per share for fiscal 2011 (which excludes charges and write offs related to the acquisition of NovaMed and employee stock-based compensation), is expected to be between $0.52 and $0.57 per share. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of $134 million for fiscal 2011. Full Article
SciClone Pharmaceuticals Nears Settlement On Derivatives Lawsuits-DJ
Dow Jones reported that a California court granted preliminary approval to settle a handful of derivative lawsuits against SciClone Pharmaceuticals. The lawsuits, which the court recently consolidated, would be dismissed with prejudice provided SciClone adopts certain corporate governance measures and pays, through its insurers, $2.5 million in attorney's fees for the plaintiffs. The lawsuits were filed after the U.S. Securities and Exchange Commission and the U.S. Department of Justice opened an investigation of certain officers and directors in August 2010, alleging bribery to foreign officials in order to secure business overseas. Full Article
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