Apollo Medical Holdings Inc. reported a net loss of $3.6 million (60 cents a share) for the quarter ended June 30, compared to a loss of $1.3 million (-22 cents) for the same period a year ago. Revenue increased 236 percent to $41.6 million.
No analysts follow the Glendale company, which manages doctor groups and health plans.
In December the company announced plans to merge with Network Medical Management Inc. of Alhambra.
“This is our first quarter of significant financial impact from our investment in population health management infrastructure and value-based care processes for our patients.” Gary Augusta, executive chairman, said in a statement. “Our pending merger with Network Medical Management is expected to further expand our operating platform to become a national leader in providing high-quality, cost-effective value-based care.”
The company announced results Monday after the market closed. Shares of Apollo (AMEH) on Tuesday were unchanged at $9 on over-the-counter market.
ImmunoCellular Therapeutics Ltd. reported a net loss of $3.6 million ($1.02 a share) for the second quarter ended June 30, compared to a loss of $5.3 million (-$2.30) for the same period a year ago. The pharmaceutical research company in Calabasas, which is developing cancer treatments, had no revenue.
No analysts follow the company.
The company announced results Monday after the market closed. Shares of ImmunoCellular (IMUC) on Tuesday fell 3 cents, or 11 percent, to close at 28 cents on the New York Stock Exchange.