Aoxing Pharmaceutical Company Inc (NYSEMKT: AXN)
Aoxing Pharmaceutical Company is having a great time in the market – and for good reason. The company recently reported its full year earnings and announced that it is reaching for regulatory approval in China. Today, we’ll talk about both of these pieces of information, how the stock reacted to the news, and what we can expect to see moving forward. So, let’s get right to it…
AXN Reports Positive Earnings
In 2014, Aoxing Pharmaceutical Company was still in the pre-earnings phase. However, as of their recent report, they are now above the green line. AXN recently reported it’s full year earnings at $0.09 per share. That’s up year over year from a loss of $0.16 per share last year. The company’s revenue is also providing a reason for excitement as it climbed by more than 100% in the fiscal year 2015 to $25.5 million!
Earnings Aren’t The Only Good News For AXN Investors
On top of reporting solid earnings for 2015, Aoxing also announced that it is seeking regulatory approval in China. AXN announced that it is working with the China Food and Drug Administration and has submitted an NDA for final production clearance of its Oxycodone/Acetaminophen drug candidate. In a statement, here’s what the company offered…
“Along with Aoxing’s plans to obtain additional provincial essential drug procurement listings for the product and to collaborate with new distribution companies for Zhongtongan, should result in substantial increases in sales of the product in FY16.”
How The Market Reacted To The News
Anytime there’s positive news surrounding a publicly traded biotechnology company, we’ve come to expect the stock to rise. That’s exactly what we’ve been seeing lately from AXN. In fact, AXN is currently (10:13) trading at $1.43 per share after a gain of $0.08 per share or 5.93%. It’s also worthwhile to mention that the volume on the stock is incredibly high today. So far, 319,467 shares have traded hands in a period of less than an hour. According to NASDAQ, the average volume on the stock over the past 50 days has been 810,374 shares.
What We Can Expect To See From AXN Moving Forward
Moving forward, I’m expecting to see more positive news out of Aoxing. The reality is that the company has moved from losses to profits and investors always love to see profits. Furthermore, I’m expecting that we will see regulatory approval for Zhongtongan in China to go through without a hitch. This will lead to strong sales and more growth. All in all, it seems like AXN is making moves for the better.
What Do You Think?
Where do you think AXN is headed and why? Let us know in the comments below!
[Image Courtesy of Stock Newswire]