Posts tagged “SciQuest”
In a conference call to discuss second-quarter earnings, SciQuest CEO Stephen Wiehe is asked about the "volatility" in its results and what he is telling investors. Wiehe says "elephant hunting" big deals is a major reason earnings are "lumpy," but says more products may smooth out future results.
SciQuest shares dropped some 5 percent Thursday after the company set a price of $26.75 per share in an offering of some 3 million. SciQuest dropped $1.25 from Wednesday's close of $26.98 before rallying. On Friday, SciQuest traded at $30.41.
SciQuest is rolling out a 3 million share offering today and says it will use the proceeds as working capital plus "general corporate purposes." Underwriters have the option to purchase another 450,000 shares.
SciQuest lands RTI; BioCryst flu treatment advances; DARA drug wins orphan status; OIN adds new member
In regional technology and life science news: SciQuest has landed RTI International as a customer. BioCryst's influenza treatment advances; Open Invention Network adds VIA Technologies; and a drug from DARA BioSciences receives orphan drug status.
The Cary company, whose software automates spending and purchasing functions for companies, narrowed its net loss to $1.2 million compared to a $2.4 million net loss in the prior year period. The company said the results were expected and were related to costs associated with acquisitions and stock-based compensation.
Alcatel mulls sale; McCrory at NCTA; Compuware board; SciQuest conference; Novartis-Japan probe; Sanofi $700M drug buy; Red Hat-backed case to high court
In our Bulldog blog's tech and life science news update: Alcatel-Lucent considers hardware sale; N.C. governor to address NCTA event; Compuware shakes up its board to avoid proxy fight; SciQuest sets annual conference with hockey hero Mike Eruzione as a speaker; Novartis faces inquiry over drug in Japan; Sanofi pays $700M for drug; Red Hat-backed patent case appeal to be heard by the Supreme Court.
Electronic purchasing and spend management software company SciQuest (NASDAQ:SQI) reported a third quarter loss of $1.8 million, which the company attributed to the expected impact of its recent acquisitions.
SciQuest CEO Stephen Wiehe said Colorado and Oregon are the only states that have not followed through on implementing the software after initially signing up. He said the risk other states would do the same is low.
Dennis Gillings, who started Quintiles in a trailer more than 30 years ago, rings the opening bell on the New York Stock Exchange today to celebrate the giant's return to public markets. Stephen Wiehe, who led SciQuest through a similar private-to-public Odyssey, recalls the "humbling" ringing bell honor.