— AUGUSTa Pharmaceuticals Inc. (NASDAQ:UGPS), a leading supplier of pharmaceutical engineering and pharmaceuticals to the pharmaceutical and health care industries, has been boosted 2.5% in value to $1.5 billion after the company reported earnings Thursday that increased earnings per share by 2.2% over the previous quarter.
The company also reported that its clinical-stage drug-delivery platform was up by 2% over last year’s period.
The earnings report also included the company’s quarterly revenue growth rate and revenue from the pharmaceutical pipeline, the latter of which is expected to be stronger than the former.
Augusta Pharmaceutical will likely continue to focus on revenue from its pharma and biopharmaceutical business, with the focus on growth in both, as the company said it plans to open an office in New York this fall.
The company also noted it will soon announce plans to acquire another biopharma company.
On Wednesday, the company announced that it had received an FDA approval for the use of an investigational compound, ritonavir, for herpes simplex virus type 1 (HSV-1) as an investigable treatment for patients with moderate-to-severe HSV-2 infection.
The approval is contingent on the completion of Phase III clinical trials, which could take between three to six months.
Shares of Augusta were up more than 1% at $1,634.83 on Thursday.