Last $2.70 USD
Change Today +0.03 / 1.12%
Volume 18.7K
SPHS On Other Exchanges
As of 8:10 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

sophiris bio inc (SPHS) Snapshot

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08/1/13 - $14.40
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sophiris bio inc (SPHS) Details

Sophiris Bio, Inc., a clinical-stage biopharmaceutical company, focuses on the research, development, and commercialization of products for the treatment of urological diseases. Its primary product candidate includes PRX302, which is in Phase III clinical trial for treatment for the symptoms of benign prostatic hyperplasia (BPH), as well as for the treatment of prostate cancer. Sophiris Bio, Inc. has a strategic relationship with Kissei Pharmaceutical Co., Ltd. or the development and commercialization of PRX302 and other products for the treatment of the symptoms of BPH, prostate cancer, prostatitis, or other diseases of the prostate; and license agreement with UVIC Industry Partnerships Inc. and The Johns Hopkins University with respect to the use of PRX302 for the development of therapeutics for the symptoms of BPH, and other non-cancer diseases and conditions of the prostate. The company was formerly known as Protox Therapeutics Inc. and changed its name to Sophiris Bio, Inc. in April 2012. Sophiris Bio, Inc. is based in La Jolla, California.

10 Employees
Last Reported Date: 05/13/14

sophiris bio inc (SPHS) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $437.8K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $293.4K
Chief Operating Officer and Head of Research ...
Total Annual Compensation: $339.9K
Compensation as of Fiscal Year 2013.

sophiris bio inc (SPHS) Key Developments

Sophiris Bio Inc., Sophiris Bio Corp. and Sophiris Bio Holding Corp. Enter $6.0 Million Loan and Security Agreement with Oxford Finance LLC

On June 30, 2014, Sophiris Bio Inc., the Company's wholly owned subsidiary, Sophiris Bio Corp. and its wholly-owned subsidiary, Sophiris Bio Holding Corp., and Oxford Finance LLC entered into a Loan and Security Agreement pursuant to which Oxford has loaned a principal amount of $6.0 million to the Company to refinance the Company's existing term loan with Oxford and to provide additional working capital. The principal amount was used by the company to repay approximately $2.9 million of outstanding principal on the Company's existing term loan, to pay accrued interest on such existing term loan, to pay other fees and expenses, including approximately $0.7 million in an accrued final payment due under the existing term loan, and the rest will be used for general corporate purposes. Under the Company's existing term loan with Oxford the Company would have been required to use its cash to pay principal, interest and additional fees of approximately $3.6 million to Oxford between July 1, 2014 and November 1, 2014, the termination date of its existing term loan. The principal borrowed under the Loan and Security Agreement bears fixed interest of 9.504% per annum, which interest shall be payable monthly in arrears. Upon the earliest to occur of (i) the maturity date, (ii) the date the Company prepays all outstanding amounts under the Loan and Security Agreement, or (iii) the date that all amounts under the Loan and Security Agreement become due and payable, the Company shall pay Oxford an additional fee of 5% of the original principal amount. The repayment terms are interest only payments through July 1, 2015 followed by 36 months of equal principal and interest payments. At its option, the Company may prepay all amounts owed under the Loan and Security Agreement, subject to a prepayment charge that is determined based on the date the loan is prepaid. In connection with the Loan and Security Agreement, the Company and the Subsidiaries granted to Oxford a security interest in all of the Company's and the Subsidiaries' personal property now owned or hereafter acquired, excluding intellectual property and certain other assets. The Loan and Security Agreement also provides for standard indemnification of Oxford and contains representations, warranties and certain covenants of the Company and the Subsidiaries. Upon the occurrence of an event of default by the Company under the Loan and Security Agreement, Oxford will have customary acceleration, collection and foreclosure remedies.

Sophiris Bio, Inc. Presents at Bloom Burton & Co. Healthcare Investor Conference, Jun-18-2014 04:30 PM

Sophiris Bio, Inc. Presents at Bloom Burton & Co. Healthcare Investor Conference, Jun-18-2014 04:30 PM. Venue: Toronto Board of Trade, 1 First Canadian Place (Corner of Bay and Adelaide), Toronto, ON M5X 1C1, Canada.

Sophiris Bio, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Sophiris Bio, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net loss before income taxes of $8,460,000, net loss of $8,460,000 or $0.52 per basic and diluted share compared to the net income before income taxes of $383,000, net loss of $117,000 or $0.04 per basic and diluted share for the same quarter a year ago.


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