Kite Pharma a Rare Opportunity for Investors using Artificial Intelligence
Kite Pharmaceuticals is currently one of our major investments in the biotech sector. We foresee a bright future for this company.
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We have a Strong Buy rating on Kite Pharma since $45. You will not see these prices again. Invest for the long haul as we have been doing for thirty years.
Kite Pharma, Inc. (KITE), a leading cell therapy company, today reported second quarter 2017 financial results and provided a corporate update for the period ended June 30, 2017.
“We’ve continued to make significant progress on key clinical and commercial milestones in the last six months alone,” said Arie Belldegrun, M.D., FACS, Chairman, President, and Chief Executive Officer of Kite. “With the anticipated events on the horizon for the remainder of 2017, the potential for CAR-T to become one of the most powerful anti-cancer agents for certain patients may finally be realized.”
Second Quarter 2017 Financial Results
- Revenue was $10.1 million for the second quarter of 2017.
- Research and development expenses were $70.9 million for the second quarter of 2017, including $13.1 million of non-cash stock-based compensation expense.
- General and administrative expenses were $41.1 million for the second quarter of 2017, including $12.1 million of non-cash stock-based compensation expense.
- Net loss was $109.8 million, or $1.94 per share, for the second quarter of 2017.
- Non-GAAP net loss for the second quarter of 2017 was $84.7 million, or $1.50 per share, excluding non-cash stock-based compensation expense of $25.2 million.
- As of June 30, 2017, Kite had $781.1 million in cash, cash equivalents, and marketable securities.