Technology  March 16, 2016

GlobeImmune shares slide 15 percent on earnings report

LOUISVILLE — Shares of GlobeImmune Inc. stock were down 15 percent Wednesday after the company’s year-end earnings report, which included a $2.8 million net loss.

Company officials, in the earnings report, stated that the troubled Louisville-based pharmaceutical company (Nasdaq: GBIM) continues to seek strategic transactions that would help maximize shareholder value.

The company’s 2015 loss amounted to 48 cents per share, compared with a loss of $8.04 per share, or $23.4 million, in 2014. Revenue, meanwhile, climbed from $6 million in 2014 to $6.5 million in 2015.

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Revenue was boosted by $1.8 million in licensing revenue for its GI-6200 program with Celgene. Lower research and development expense and reduced salary expense due to layoffs last year also contributed to the net loss shrinking.

GlobeImmune last August slashed its staff from 22 to six employees in an effort to preserve cash after negative trial results for its hepatitis B drug candidate. Last month, it was announced that CEO Timothy Rodell would start working part-time on March 1 and receive only half of his annual salary of $405,000 to help preserve capital.

The company finished 2015 with $9.9 million in cash and cash equivalents, enough, company officials said, to operate through the end of the year as it continues to look for strategic alternatives.

GlobeImmune shares were trading at $1.86 apiece in mid-afternoon trading Wednesday after trading above $10 for a period last April.

LOUISVILLE — Shares of GlobeImmune Inc. stock were down 15 percent Wednesday after the company’s year-end earnings report, which included a $2.8 million net loss.

Company officials, in the earnings report, stated that the troubled Louisville-based pharmaceutical company (Nasdaq: GBIM) continues to seek strategic transactions that would help maximize shareholder value.

The company’s 2015 loss amounted to 48 cents per share, compared with a loss of $8.04 per share, or $23.4 million, in 2014. Revenue, meanwhile, climbed from $6 million in 2014 to $6.5 million in 2015.

Revenue was boosted by $1.8 million in licensing revenue for its GI-6200 program with Celgene. Lower…

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