FDA approves biosimilar of Amgen’s Enbrel
The U.S. Food and Drug Administration formally approved a competing biosimilar of Amgen’s top-selling drug Enbrel on Aug. 30. Made by Switzerland-based Novartis, Erelzi mimics the effects of Enbrel. Enbrel, which was first approved in 1998, is approved to treat rheumatoid arthritis and other conditions by decreasing the amount of a protein produced by the Read More →
Net income down but Montecitio Bank & Trust’s loans and deposits grow
Santa Barbara-based Montecito Bank & Trust reported net income of $7.2 million in the second quarter, down $800,000 from the same period last year. The bank reported 13.6 percent year-over-year loan growth, ending the quarter at $752 million. Total deposit growth was up 3.3 percent from the second quarter of 2015 while total assets grew Read More →
QAD reports solid second quarter earnings
Santa Barbara enterprise software firm QAD said it earned 3 cents per share or $600,000 in its fiscal second quarter on revenue of $69.8 million. When adjusted for non-cash items such as stock option expenses and amortization costs, earnings were 15 cents per share, the company said. The results reflect QAD’s accelerated transition from a Read More →
Parent of Ojai Community Bank raises funds
OCB Bancorp, parent company of Ojai Community Bank, raised additional funds by issuing $3 million of subordinated notes to facilitate future growth. “During this extended period of low rates, many corporations have found it advantageous to issue corporate bonds instead of common stock to assist capital growth,” President and CEO Dave Brubaker said in a Read More →
Interlink revenues, profits, earnings per share rise slightly
Interlink Electronics’ revenues increases slightly, profits increased slightly and earnings per share increased slightly during the second quarter, the company said Aug. 15 when it released second quarter earnings results. Based in Westlake Village, Interlink Electronics manufactures sensors used in portable electronic devices. Revenues increased 7 percent during the quarter from $2.8 million in 2015 Read More →
Clean Diesel second quarter revenues down but profits up
Revenues were down for Clean Diesel Technologies but the company still recorded increases in profits and earnings per share when the company released second quarter earnings Aug. 15. Clean Diesel revenues fell during the quarter from $9.9 million in 2015 to $8.4 million in 2016. Despite this, income increased from a net loss of $2.4 Read More →
Stellar Biotechnologies revenues up but losses grow
Stellar Biotechnologies’ revenues increased slightly during the third quarter of 2016 but losses widened as the company signed a new partnership with a French company and held an offering for institutional investors, the company said in a quarterly earnings report Aug. 8. Stellar revenues increased slightly from $157,748 during the third quarter of 2015 to Read More →
