Another Quarter Of Loss For Unilife Corp (NASDAQ:UNIS)
Unilife Corp (NASDAQ:UNIS) has announced its quarterly results. The company has reported a net loss of $11.2 million. This translates to $0.12 per share, lesser than the $12.5 million it recorded last year. In comparison, $0.16 per share for the quarter last was promising.
For the immediate quarter, Unilife Corp has announced that the results are $3.19 million above the $692 thousand it has recorded for the previous year. Analysts had made a typical expectation estimate of $5.80 million.
Currently, it operates between the ranges of 2.63 – 3.10. It 52 week low has been 1.80, while its 52-week high has been 4.26. Its average volumes have been 3.64M/909,705.00 and it currently covers a market capital of 288.41million.
Unilife Corporation is based in the U.S. and is involved in various drug development, design and developer aspects. It currently is involved in the manufacture of various kinds of ‘injectable drug delivery systems.’ The company has also announced several types of deals with developers such as MedImmune.
Currently, MedImmune is a global research as well as development vertical along with AstraZeneca. The company pursues various feature enhancement or ‘customization’ of the supply devices. These are to be used in conjunction with wearable injectors. Ideally, these injectors are in turn used with molecules that MedImmune is currently developing. It also has several other molecular developments, which are expected to improve the delivery of drugs.
Under this agreement, Unilife will supply MedImmune with customized devices from its platform of ReadyToGo™ wearable injectors. Several drug candidates from MedImmune’s portfolio may be selected for use with Unilife’s wearable injectors under the agreement.
The Chief Executive of Unilife, Mr. Alan Shortall, has commented that the new format of delivery of drug through injectable systems offers higher efficacy. This is because of the higher levels of technical enhancement that the disposable and wearable devices are now being constructed. Therefore, the levels of delivery of therapies have increased substantially improving the convenience for the medical professionals. For patients too it becomes more convenient and less painful.