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Home » Business & Finance » Falling Stocks Overview: Sunesis Pharmaceuticals, Inc (NASDAQ:SNSS), United States Steel Corporation(NYSE:X), Ibio Inc (NYSEMKT:IBIO), Applied Materials, Inc (NASDAQ:AMAT)
Falling Stocks Overview: Sunesis Pharmaceuticals, Inc (NASDAQ:SNSS), United States Steel Corporation(NYSE:X), Ibio Inc (NYSEMKT:IBIO), Applied Materials, Inc (NASDAQ:AMAT)

Falling Stocks Overview: Sunesis Pharmaceuticals, Inc (NASDAQ:SNSS), United States Steel Corporation(NYSE:X), Ibio Inc (NYSEMKT:IBIO), Applied Materials, Inc (NASDAQ:AMAT)

March 4, 2015 1:07 pm by: Category: Business & Finance Leave a comment A+ / A-

Insights about U.S. Stocks that landed in the Red-Zone during Tuesday’s trade, are depicted underneath:

Sunesis Pharmaceuticals, Inc (NASDAQ:SNSS)’s shares dwindled -4.98%, and closed at $2.10, during the last trading session.

Sunesis Pharmaceuticals, Inc. (SNSS), declared the signing of an amendment to its loan and security contract with Oxford Finance LLC, Silicon Valley Bank, and Horizon Technology Finance Corporation.

The amendment, effective February 27, 2015, creates an interest-only period from March 1, 2015 through February 1, 2016 on the remainder of Sunesis’ loan balance. Principal payments will resume March 1, 2016. In consideration for the amendment, Sunesis will issue the Lenders warrants to purchase an aggregate of 61,467 shares of Sunesis ordinary stock at an exercise price of $2.22 per share. Additionally, the final payment will be deferred by 12 months to the fourth quarter of 2016, and will be raised from 3.75% to 4.65% of the total loan amount, a difference of $225,000. Sunesis reached the $25 million Loan Contract with the Lenders in October 2011.

“This amendment to our loan facility provides us with additional financial flexibility to execute our corporate strategy, counting the potential submission in 2015 of U.S. and European filings for regulatory approval of vosaroxin in relapsed or refractory acute myeloid leukemia,” said Eric Bjerkholt, Executive Vice President of Corporate Development and Finance and Chief Financial Officer of Sunesis. “We believe that this loan amendment, together with our current cash position, provide us with the resources to fund operations through the first quarter of 2016.”

Sunesis Pharmaceuticals, Inc., a biopharmaceutical corporation, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. Sunesis has built a highly practiced cancer drug development organization committed to advancing its lead product candidate, vosaroxin, in multiple indications to improve the lives of people with cancer.

United States Steel Corporation(NYSE:X) declined -4.83%, and closed at $22.67.

United States Steel Corp. (X), formerly on February 25, Executive Vice President and Chief Financial Officer David Burritt recently declared the promotion of Colleen M. Darragh to the position of vice president and controller, effective right away. Darragh has served as acting controller since July 2014, at the corporation’s Pittsburgh headquarters.

As the chief accounting officer for the corporation, Darragh will be responsible for U. S. Steel’s global financial accounting, reporting and analysis functions.

“I am happy to promote Colleen to this post, where she has served as a steadfast leader during the corporation’s transition,” Burritt said. “She brings a wealth of both internal and external professional experience to this role and we are fortunate to have her as a member of the executive team.”

Darragh, 45, joined U. S. Steel in 2006 as director - external reporting and advanced through a series of increasingly responsible roles within the finance and accounting organization. In 2010, she served as executive director - finance at the former U. S. Steel Serbia facility in Smederevo. Upon her return to the United States in 2012, she held leadership roles within benefits accounting and analysis before her appointment as acting controller in 2014.

United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products. This segment serves customers in the service center, conversion, transportation, construction, container, and appliance and electrical markets.

Ibio Inc (NYSEMKT:IBIO), dipped -4.64%, and closed at $0.925.

iBio, Inc. (IBIO), a leader in plant-based biotechnology for developing and manufacturing biological products, formerly on February 25, declared the issue of US patent serial No. 8,962,278 titled “COMPOSITIONS AND METHODS FOR PRODUCTION OF IMMUNOGLOBULINS.” The patent will join patent family members formerly issued in China, India, Korea and Europe.

Claims involve human monoclonal antibodies specifically recognizing the Protective Antigen (PA) or the Lethal Factor (LF) of Bacillus anthracis, the bacteria causing anthrax. In mouse and non-human primate studies such antibodies, produced with the use of iBio’s iBioLaunch™ gene expression platform technology, prevented death in 100% of animals given an otherwise lethal doses of anthrax spores.

“A non-glycosylated version of this antibody binds PA, neutralizes anthrax LeTx activity in vitro and possesses superior efficacy contrast with the glycosylated form of this antibody in non-human primates — a significantly longer half-life and 100% protection against a lethal dose of aerosolized anthrax spore challenge after a single i.v. administration,” said Terence Ryan, Ph.D., Chief Scientific Officer of iBio. “These results suggest that this monoclonal antibody may be a useful tool for the treatment of inhalation anthrax in humans.”

iBio, Inc., a biotechnology corporation, focuses on the commercialization of its proprietary plant-based protein expression technologies in the United States and internationally.

Applied Materials, Inc (NASDAQ:AMAT), dropped -4.47%, and closed at $24.49.

At the SPIE* Advanced Lithography conference in San Jose, Calif., Applied Materials, Inc. (AMAT), declared the industry`s first in-line 3D CD SEM* metrology tool for solving the challenges of measuring the high aspect ratio and complex features of 3D NAND and FinFET devices. The new Applied VeritySEM® 5i system offers state-of-the-art high-resolution imaging and backscattered electron (BSE) technology that enable exceptional CD control in-line. Using the VeritySEM 5i system can speed up chipmakers` process development and production ramp, and improve device performance and yield in high-volume production.

Applied Materials, Inc. (AMAT) is the global leader in precision materials engineering solutions for the semiconductor, flat panel display and solar photovoltaic industries. Our technologies assist make innovations like smartphones, flat screen TVs and solar panels more affordable and accessible to consumers and businesses around the world.

Falling Stocks Overview: Sunesis Pharmaceuticals, Inc (NASDAQ:SNSS), United States Steel Corporation(NYSE:X), Ibio Inc (NYSEMKT:IBIO), Applied Materials, Inc (NASDAQ:AMAT) Reviewed by on . Insights about U.S. Stocks that landed in the Red-Zone during Tuesday's trade, are depicted underneath: Sunesis Pharmaceuticals, Inc (NASDAQ:SNSS)'s shares dwin Insights about U.S. Stocks that landed in the Red-Zone during Tuesday's trade, are depicted underneath: Sunesis Pharmaceuticals, Inc (NASDAQ:SNSS)'s shares dwin Rating: 0

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