On Thursday, Shares of Corning Incorporated (NYSE:GLW), remained flat at $18.78.
Corning Incorporated declared that James B. Flaws, vice chairman and chief financial officer, will retire on Nov. 30 following 42 years of exceptional service with the company. Flaws will remain vice chairman and a member of Corning`s Board of Directors until his retirement. Flaws will step down as CFO on Aug. 31.
“On behalf of Corning`s board of directors and administration committee, I want to express our profound sense of gratitude to Jim for his dedication and outstanding 42 years of service to our company,” Wendell P. Weeks, chairman, chief executive officer and president, said. “Jim and I joined Corning`s board in 2000 and we worked side-by-side to architect the rebuilding of our company following the telecommunications industry`s financial crash more than a decade ago. Together, we developed the financial framework that continues to guide the company`s growth strategy.
Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.
Shares of Graphic Packaging Holding Company (NYSE:GPK), inclined 0.41% to $14.79, during its last trading session.
Graphic Packaging Holding Company, stated Net Income for second quarter 2015 of $57.6 million, or $0.17 per share, based upon 330.9 million weighted average diluted shares. This compares to the second quarter 2014 Net Loss of $(40.0) million, or $(0.12) per share, based on 328.7 million weighted average diluted shares.
Counting the tax impact, second quarter 2015 Net Income was negatively influenced by $3.7 million of Charges Associated with Business Combinations and Other Special Charges. When adjusting for these charges, Adjusted Net Income for the second quarter of 2015 was $61.3 million, or $0.19 per diluted share. This compares to second quarter 2014 Adjusted Net Income of $66.0 million or $0.20 per diluted share.
Graphic Packaging Holding Company, together with its auxiliaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. The company produces a range of paperboard grades convertible into folding cartons primarily to protect products, such as food, detergents, paper products, beverages, and health and beauty aids.
Finally, Array Biopharma Inc (NASDAQ:ARRY), ended its last trade with -0.90% loss, and closed at $6.59.
Array BioPharma’s, wholly owned RAF inhibitor, encorafenib, was showcased this past weekend at the 2015 ESMO World Congress of Gastrointestinal Cancer during an oral presentation. At the meeting, data were shared from a Phase 1b trial and preliminary data from a 100-patient randomized Phase 2 expansion of that trial testing the combination of encorafenib and cetuximab, an EGFR inhibitor, with or without the addition of alpelisib (BYL719) 1, an investigational PI3K inhibitor in patients with BRAF-mutant colorectal cancer (BRAFmut CRC). Results from the study indicate that these combinations can be administered with good tolerability and show promising clinical activity in this patient population with high-unmet medical needs. Patient enrollment is now complete in the Phase 2 study.
The preliminary Phase 2 results show an objective response rate (complete or partial response) and disease control rate (complete or partial response or stable disease) of 29% and 81%, respectively, for patients receiving the combination of encorafenib and cetuximab (encorafenib doublet), and 35% and 79%, respectively, for patients receiving the combination of encorafenib, cetuximab and alpelisib (encorafenib triplet).
Array BioPharma Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia Pacific.
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