Rennova Health and Pernix Therapeutics Both Led In the Pharma Arena with Significant Share Price Jumps

NEW YORK, NY / ACCESSWIRE / April 24, 2017 / The healthcare industry is vital as it is a major source of medical innovation and crucial services. The arena boasts plenty of companies that are focused on meeting the global health challenge through specialty pharmaceuticals and commercializing prescription drugs, as well as diagnostics, supportive software and medical billing services.

RDI Initiates
Coverage:

Rennova Health, Inc.
https://ub.rdinvesting.com/news/?ticker=RNVA

Pernix Therapeutics Holdings, Inc.
https://ub.rdinvesting.com/news/?ticker=PTX

Rennova Health, Inc. shares closed up 12.36% on Friday. The vertically integrated provider of industry-leading diagnostics and supportive software solutions to healthcare providers had announced earlier in the week that the Centers for Medicare and Medicaid Services (CMS) has concluded its review of the application submitted by its subsidiary Big South Fork Medical Center in requesting enrollment in the Medicare program as a Hospital. CMS has confirmed that it has issued a recommendation for approval to the Tennessee State Agency and the CMS Regional Office (RO). “This is one of the most important milestones to be overcome to open the Hospital to patients,” said Seamus Lagan, Chief Executive Officer of Rennova Health. “We believe that this Hospital creates an exciting opportunity for Rennova to provide a needed service to patients and in turn have a more predictable and reliable revenue stream. We look forward to this Hospital opening and exploring other opportunities in the same sector.”

The company recently reported financial results for the year ended December 31, 2016, with net revenues for 2016 coming in at $5.2 million, compared with $18.4 million for 2015.

Access RDI’s Rennova Health,
Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=RNVA

Pernix Therapeutics Holdings, Inc. shares closed up 12.42% on Friday despite no significant headlines. Earlier this month the company reported financial results for the quarter ended December 31, 2016. Revenues came in at $30.17 million with net earnings at $-86.08 million. Gross margins narrowed from 7.90% to 1.37% compared to the same period last year, operating (EBITDA) margins now -16.59% from 11.05%. Change in operating cash flow of 265.78% compared to same period last year is about the same as change in earnings, likely no significant movement in accruals or reserves. “Since July 2016, when we restructured our sales force, we have achieved significant progress in improving the performance of our business,” said John Sedor, Chairman and Chief Executive Officer of Pernix Therapeutics.

Pernix had been in arbitration with GlaxoSmithKline (GSK) claiming that GSK breached its obligations under the supply agreement regarding Treximet, a nonsteroidal anti-inflammatory drug, and analgesic that can treat migraines. Back in January, the arbitration tribunal issued opinions in favor of GSK, awarding it damages and fees in the amount of approximately $35 million, plus interest. Last month, Pernix and GSK entered into an agreement that establishes a payment schedule for satisfaction of the balance of the award, as $16.5 million had been already paid.

Access RDI’s Pernix Therapeutics
Holdings, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=PTX

Our Actionable Research on Rennova Health, Inc. (NASDAQ: RNVA) and Pernix Therapeutics Holdings, Inc. (NASDAQ: PTX) can be downloaded free of charge at Research Driven Investing.

Research Driven
Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 460372