Revenue Update on Oncomed Pharmaceuticals Inc(NASDAQ:OMED)

Oncomed Pharmaceuticals Inc(NASDAQ:OMED) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $6.67M. Analysts estimated a revenue of $8.09M. Earnings per share were $-0.91. Analysts had estimated an EPS of $-0.81.

Oncomed Pharmaceuticals Inc (OMED) shares turned negative on Wednesdays trading session with the shares closing down -0.18 points or -1.51% at a volume of 49,924. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.9. The peak price level was also seen at $11.9 while the days lowest was $11.55. Finally the shares closed at $11.71. The 52-week high of the shares is $23.98 while the 52-week low is $8.42. According to the latest information available, the market cap of the company is $359 M.

Several Insider Transactions has been reported to the SEC. On Jan 12, 2016, Jakob Dupont (SVP & Chief Medical Officer) sold 2,500 shares at $20.01 per share price.Also, On Jan 8, 2016, Austin Gurney (officer ) sold 2,162 shares at $21.72 per share price.On Jan 8, 2016, Timothy Hoey (SVP, Cancer Biology) sold 2,162 shares at $21.73 per share price, according to the Form-4 filing with the securities and exchange commission.

OncoMed Pharmaceuticals Inc. (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing protein therapeutics targeting cancer stem cells (CSCs). The Company’s product candidates target CSCs by blocking self-renewal and driving differentiation of CSCs toward a non-tumorigenic state and also impact bulk tumor cells. Its technology is used to identify isolate and evaluate CSCs; identify and/or validate multiple potential targets and pathways critical to CSC self-renewal and differentiation and develop targeted antibody and other protein-based therapeutics that are designed to modulate these CSC targets and inhibit the growth of CSCs. The Company is also engaged in discovering multiple product candidates that target fundamental biological pathways in immuno-oncology. Its products include Demcizumab AntiDLL4/VEGF bispecific Tarextumab AntiNotch1 Vantictumab Ipafricept Wnt 3rd Biologic Wnt Small Molecules and AntiRSPO.

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