On Tuesday, Alder Biopharmaceuticals Inc (NASDAQ:ALDR)’s shares inclined 12.85% to $52.97.
Alder BioPharmaceuticals, Inc. (ALDR), a clinical-stage biopharmaceutical company, declared that the underwriters of its previously announced public offering of common stock have exercised in full their option to purchase an additional 674,157 shares of common stock. The closing of the sale of all shares occurred today. Gross proceeds from the offering of an aggregate of 5,168,539 shares at a public offering price of $44.50 per share, before underwriting discounts and commissions and offering expenses, were approximately $230 million.
Credit Suisse, Leerink Partners and Wells Fargo Securities acted as joint book-running managers for the offering. Bernstein acted as co-manager for the offering.
Alder BioPharmaceuticals, Inc., a clinical-stage biopharmaceutical company, discovers, develops, and commercializes various therapeutic antibodies in the United States and Australia. It is developing monoclonal antibodies comprising ALD403, which has accomplished Phase Ib proof-of-concept trials to target calcitonin gene-related peptide for the prevention of migraine; Clazakizumab that has accomplished Phase IIb clinical trials that inhibits the pro-inflammatory cytokine interleukin-6 in the treatment of rheumatoid arthritis and psoriatic arthritis; and ALD1613, which is in preclinical stage of development for the treatment of Cushing’s disease.
Deutsche Bank AG (USA)(NYSE:DB)’s shares gained 0.20% to $30.16.
Deutsche Bank declared its appointment as depositary bank for the non-capital raising sponsored Level I American Depositary Receipt program of Brambles Limited (Brambles).
Brambles (OTC:BXBLY) is a supply-chain logistics company specializing in the pooling and administration of unit-load equipment such as pallets, crates and containers. Brambles predominantly serve the consumer goods, dry grocery, fresh food, retail and general manufacturing industries. In addition, the Brambles Group has specialist businesses serving the automotive manufacturing, aerospace and oil and gas sectors. Headquartered in Sydney, Australia, the company operates in more than 60 countries and is listed on the Australian Securities Exchange.*
Naomi Flutter, Head of Global Transaction Banking, Australia & New Zealand at Deutsche Bank said, “We are delighted to be designated as the depositary bank for this notable ADR program. It represents noteworthy recognition of Deutsche Bank’s investor-centric approach to ADRs, and our strong client servicing capabilities. Deutsche Bank’s broad range of customized services will be deployed to assist Brambles in enhancing the visibility of its ADR program within the investor community.”
Deutsche Bank’s Depositary Receipts team is part of the Issuer Services business within the Bank’s Institutional Cash & Securities Services unit.
Deutsche Bank AG provides investment, financial, and related products and services worldwide. Its Corporate Banking & Securities division engages in selling, trading, and structuring a range of fixed income, equity, equity-linked, foreign exchange, and commodities products. This division also provides mergers and acquisitions, equity and debt financing, and general corporate finance advice, in addition to various financial services to public sector.
At the end of Tuesday’s trade, ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS)‘s shares surged 2.68% to $57.55.
ISIS Pharmaceuticals, Inc. (ISIS) offered an update on children with spinal muscular atrophy (SMA) who have accomplished the open-label, Phase 2 multiple-dose study of ISIS-SMNRx and are ongoing to receive treatment in an open-label extension (OLE) study. Comprising with earlier observations, enhances in muscle function scores and additional motor function tests were observed in children treated with ISIS-SMNRx. Isis is presently collaborating with Biogen to develop and commercialize ISIS-SMNRx to treat patients with SMA.
In the OLE study, a total of 30 children with Type II or Type III SMA received 12 mg of ISIS-SMNRx dosed intrathecally every six months. Children who enrolled in the OLE study had accomplished the open-label Phase 2 study of ISIS-SMNRx in which they had received multiple doses of either 3 mg, 6 mg, 9 mg, or 12 mg of ISIS-SMNRx. Clinical endpoints were measured every three months and contrast to each patient’s Phase 2 baseline score. These endpoints comprised of measurements of muscle function using the Hammersmith Functional Motor Scale-Expanded (HFMSE), the six minute walk test (6MWT) for ambulatory patients and the upper limb module (ULM) test for non-ambulatory patients.
Isis Pharmaceuticals, Inc. engages in the discovery and development of antisense drugs using novel drug discovery platform. The company’s flagship product includes the KYNAMRO injection, which is an apo-B synthesis inhibitor for patients with homozygous familial hypercholesterolemia; and for the reduction of low-density lipoprotein cholesterol. It also has a pipeline of 38 drugs in development for the treatment of various diseases, including cardiovascular and metabolic diseases; severe and rare diseases, which include neurological disorders; and cancer.
Hovnanian Enterprises, Inc. (NYSE:HOV), ended its Tuesday’s trading session with -4.66% loss, and closed at $2.66.
Hovnanian Enterprises, Inc. (HOV) which has witnessed a noteworthy price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in HOV.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 1 estimate moving down in the past 30 days, contrast with no upward revisions. This trend has caused the consensus estimate to trend lower, going from earnings of 4 cents a share a month ago to its current level of a loss of 5 cents.
Also, for the current quarter, Hovnanian Enterprises has seen 1 downward estimate revision as compared to no revisions in the opposite direction, dragging the consensus estimate down to the break-even point from 4 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 12.5% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
Hovnanian Enterprises, Inc. designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active adult homes. The company markets its build homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active adult buyers, and empty nesters in 201 communities in 34 markets.
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 through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
