![]() ![]() In 2012, Auxilium accomplished a key goal of achieving full year profitability and we saw good overall commercial growth with both Testim and XIAFLEX, said Adrian Adams, Chief Executive Officer and President of Auxilium. As a result of the agreement to mutually terminate the Pfizer European collaboration agreement, the Company recorded net income of $85.2 million in the fourth quarter results, reflecting the recognition of the $93.6 million in deferred revenues noted above, offset by the recording of $8.4 million in previously deferred expenses. For the full year 2012, Auxiliums net income was $85.9 million, or $1.74 per share, fully diluted, compared to a net loss of $(32.9) million, or $(0.69) per share, fully diluted, for the full year 2011. (Pfizer) which were recognized as a result of the agreement to mutually terminate the collaboration effective April 24, 2013, as previously announced on November 7, 2012.įor the quarter ended December 31, 2012, Auxilium reported net income of $90.5 million, or $1.83 per share, fully diluted, compared to a net loss of $(11.9) million, or $(0.25) per share, fully diluted, in the fourth quarter of 2011. The fourth quarter 2012 net revenues include $93.6 million related to previously received and deferred up-front and milestone payments related to the Companys European collaboration with Pfizer, Inc. For the full year 2012, Auxilium reported net revenues of $395.3 million compared to net revenues of $264.3 million for the full year 2011. ![]() Governs the Hong Kong Stock Exchange, Alibaba’s home market.For the quarter ended December 31, 2012, Auxilium reported net revenues of $172.5 million compared to net revenues of $73.3 million in the fourth quarter of 2011. But it still ran afoul of the one-share-one-vote principle that The structure is not quite the same as a dual-class stock system in which certain investors hold shares with significantly more voting power than others. That Alibaba is listing in the United States at all is because both American exchanges are comfortable with its unusual corporate governance structure.Īlibaba features a “partnership,” a group of 27 insiders who will nominate a majority of board members. One factor that may have weighed on some executives’ minds was Facebook’sīotched I.P.O., a morass of trading delays and investor anger that tainted Nasdaq’s reputation. ![]() Still, several people briefed on Alibaba’s deliberations have said in recent months that the New York Stock Exchange held an edge over its competitor. In one of the most prominent I.P.O.s last year.Īt the same time, Nasdaq has won a number of noted Chinese Internet companies, including the search engine operator Baidu and the e-commerce specialist J.D.com. One of the New York Stock Exchange’s biggest coups was attracting Twitter, That follows a big push to muscle into what had traditionally been Nasdaq’s turf. Such deals have raised $18.8 billion, or nearly 62 percent of the total capital raised.įurthermore, the Big Board leads in technology initial offerings this year, with 20 compared with Nasdaq’s 16. Part of the reason for that lead has been the exchange’sĬontinued dominance in the listings of biotechnology companies.īut I.P.O.s on the New York Stock Exchange have raised more money this year. Nasdaq has captured a bigger percentage of the 142 initial public offerings this year, with roughly 57 percent, according to data from Renaissance Capital. The two exchanges constantly compete for highly anticipated initial stock offerings, hoping to win listing fees and - perhaps more important - the prestige of big names that could draw other market debutantes. “We participated in a comprehensive and deliberate exchange selection process and we are pleased to welcome Alibaba Group to the New York Stock Exchange, where they will join our network of the world’sīest companies and leading brands,” a spokeswoman for the New York Stock Exchange said in a statement.Ī Nasdaq spokesman said, “Alibaba is a terrific company, and we wish them well as they pursue their initial public offering.” Facebook chose the Nasdaq exchange in its market debut two years ago. Shares of Alibaba could begin trading as soon as early August, according to people briefed on the matter who spoke on the conditionĪlibaba will be the New York Stock Exchange’s biggest Internet I.P.O. Which had competed with the Nasdaq stock marketįor what is expected to be one of the biggest initial public offerings in years. The choice is a big victory for the New York Stock Exchange, | In the battle to be the market home for the Alibaba Group, the winner is the New York Stock Exchange.Īlibaba, the Chinese Internet commerce giant, disclosed in an amended prospectus on Thursday that it planned to list on the Big Board, under the ticker symbol BABA. ![]()
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