During Wednesday’s Current trade, Shares of Baxalta Inc (NYSE:BXLT), lost -0.38% to $31.14.
Xenetic Biosciences, Inc. (XBIO) a biopharmaceutical company focused on developing next-generation biologic drugs and novel oncology therapeutics, announces that several of its major shareholders including Baxalta Incorporated (BXLT) (formerly Baxter Healthcare), SynBio LLC and Serum Institute of India Limited have entered into Lock-up Letter Agreements (the “Lock-up”). Under the Lock-up each of the shareholders has agreed to not sell any of its shares currently held before June 30, 2016 and then further to limit the sale of its shares in the Company for an additional six months (to December 2016) to a price of no less than $1.25 per share. The Lock-up covers more than 58% of the issued shares of the Company’s common stock.
“The signing of these lock-up agreements, which cover such an extended period of time and comprise a minimum price floor no less than $1.25 after June 30, 2016, demonstrates both the confidence our largest shareholders have in the Company but also in the clinical pipeline and in the strategy of the administration team,” said M. Scott Maguire, Chief Executive Officer of Xenetic. “After adding in administration’s personal equity stakes, Xenetic has about 66% of its outstanding shares in some form of no-sale obligation. Going forward, these commitments will be important for facilitating the Company’s move to a globally recognized stock exchange thereby creating a pathway to deliver the resources to drive our numerous candidates into clinical development.”
Baxalta Incorporated is a biopharmaceutical company. The Company develops, manufactures and markets a portfolio of treatments for hemophilia and other bleeding disorders, immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute medical conditions.
Shares of Freeport-McMoRan Inc (NYSE:FCX), inclined 10.36% to $13.13, during its current trading session.
Carl C. Icahn released the following statement regarding Freeport-McMoRan Inc. (FCX):
We have had a number of contacts with representatives of Freeport over the past few weeks and commend the board for adopting a number of our recommendations, such as reducing the number of directors to 11 and providing us with 2 representatives on the board, in addition to representation on the board of Freeport’s oil and gas partner. We also believe that Freeport stockholders generally will benefit from our agreement, which restricts the ability of the company to implement a poison pill and permits our representatives to resign from the board at any time and be free of any restrictions. To preempt criticism that we were willing to accept only a small minority position on the board, I should point out that in many of the situations just over the last few years, where we accepted only small minority positions; shareholder value has been greatly improved. Several examples are Forest Labs, Hain Celestial, Hologic, Mentor Graphics, Take Two Interactive, Herbalife, eBay, etc., etc. I could go on, but I believe the point is made. I hope and believe that we will work with Freeport’s board to enhance value as we have done with so many others in the past.
Freeport-McMoRan Inc. (FCX) is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. FCX has organized its operations into six primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining, Molybdenum mines, and United States oil and gas operations.
Host Hotels and Resorts Inc (NYSE:HST), during its Wednesday’s current trading session gained 2.34% to $17.47.
Host Hotels & Resorts, Inc. (HST), will report financial results for the third quarter 2015 preceding to market open on Thursday, October 29, followed by a conference call at 9:00 a.m. Eastern Time (ET). Administration will talk about the Company’s third quarter 2015 results and its business outlook for the remainder of 2015.
Host Hotels & Resorts, Inc. (Host Inc.) operates as a self-managed and self-administered real estate investment trust (REIT). Host Inc. owns properties and conducts operations through Host Hotels & Resorts, L.P. (Host L.P.) of which Host Inc.
Finally, Biogen Inc (NASDAQ:BIIB), gained 0.40%, to $277.02.
Biogen (BIIB) will present new data that reinforce the proven efficacy and well-established safety profile of TECFIDERA® (dimethyl fumarate) in a broad range of people with relapsing-remitting multiple sclerosis (RRMS) at the 31st Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) in Barcelona, Spain (7-10 October). The data show that TECFIDERA significantly reduced multiple sclerosis (MS) relapses and delayed disability progression in patients who are newly diagnosed and those early in their disease course; these effects were sustained over six years of follow-up.
New data at ECTRIMS also comprise a post-hoc analysis in which TECFIDERA significantly reduced key inflammatory disease outcomes contrast to glatiramer acetate (GA)1 and, in a separate analysis, TECFIDERA demonstrated a favorable benefit-risk profile throughout six years of follow-up from the ENDORSE study.
Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The Company is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders.
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