On Monday, Shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), skyrocketed 45.30% to $1.70.
AVEO Pharmaceuticals declared an exclusive, worldwide license agreement with Novartis for the development and commercialization of AVEO’s first-in-class, potent, humanized inhibitory antibody targeting growth differentiation factor 15 (GDF15), AV-380, and related antibodies, counting modified or derivative forms of any such antibody (the “Product”).
Under the terms of the agreement, AVEO will receive an upfront payment of $15 million and will be eligible to receive reimbursement, clinical, sales and regulatory-based milestone payments totaling $311 million assuming successful advancement of the Product. AVEO will also be eligible to receive tiered royalties on product sales ranging from high single digits to a low double-digit. Novartis will be responsible for all clinical development, manufacturing and commercialization activities and costs associated with the Product.
AVEO Pharmaceuticals, Inc., a biopharmaceutical company, develops targeted therapies for patients with cancer and related diseases. Its product candidates under development comprise Tivozanib, an tyrosine kinase inhibitor for various vascular endothelial growth factors; Ficlatuzumab, a hepatocyte growth factor inhibitory antibody, which has accomplished Phase II trial; and AV-203, an anti-ErbB3 monoclonal antibody that has accomplished a Phase I dose escalation study.
Shares of Baxter International Inc. (NYSE:BAX), declined -0.34% to $40.76, during its last trading session.
The company had a trading volume of 6,676,289 shares. Baxter International has a 52-week low of $34.77 and a 52-week high of $43.44. The company’s 50-day moving average is $38.92 and its 200-day moving average is $37.78. The firm has a market capitalization of $22.24 billion and a price-to-earnings ratio of 10.21.
The firm declared a quarterly dividend, which will be issued on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.46 annualized dividend and a yield of 1.13%.
Baxter International Inc., develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions.
Finally, The Gap, Inc. (NYSE:GPS), ended its last trade with 0.73% gain, and closed at $34.48, hitting its lowest level.
The Gap’s same-store sales dropped 3% in the month of July, AnalystRatings.Net reports. The company missed analysts’ estimates of a 2.7% year-over-year decline in sales.
The firm declared that its Board of Directors authorized a quarterly dividend of $0.23 per share payable on or after October 28, 2015 to shareholders of record at the close of business on October 7, 2015.
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
