ShangPharma’s Q3 is Solid, But Investors Still Unimpressed

ShangPharma Corporation reported Q3 revenues climbed 17% to $23.1 million and net income rose 33% to $2.7 million or 22 cents per share. These were respectable gains, but they didn’t create any excitement in the investor community, which prefers big upside surprises. Since completing its IPO in October at $15 per share, ShangPharma has watched its shares drift lower. They closed yesterday at $11.68, a 22% loss for IPO participants. More details.... Stock Symbol: (NYSE: SHP)