On Friday, Shares of AbbVie Inc (NYSE:ABBV), lost - 2.34% to $65.90.
AbbVie, declared that a Phase 2 trial of its investigational medicine venetoclax met its primary endpoint of achieving overall response rates in patients with relapsed/refractory or formerly untreated chronic lymphocytic leukemia (CLL) with 17p deletion, according to an independent review analysis. The open-label study evaluated the efficacy and safety of venetoclax, an inhibitor of the B-cell lymphoma-2 (BCL-2) protein that is being developed in partnership with Genentech and Roche.
Data from this study will be presented at an forthcoming medical conference and will serve as the pivotal registration data for applications to the FDA, EMA and other health authorities. The safety profile was similar to previous studies and no unpredictable safety signals were stated for venetoclax.
“The results from this study demonstrate the clinical activity of venetoclax in patients with relapsed/refractory CLL who have 17p deletion, a patient population that has historically been difficult to treat,” said Michael Severino, M.D., executive vice president of research and development and chief scientific officer, AbbVie. “Based on these results, we intend to advance regulatory submissions for venetoclax and remain committed to the further development of this investigational medicine, and others in our pipeline, with the aim of delivering new treatment options for people affected by cancer.”
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company’s products comprise HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; VIEKIRA PAK, an all-oral, short-course, interferon-free therapy, with or without ribavirin, for adult patients with genotype 1 chronic hepatitis, counting those with compensated cirrhosis; Kaletra, an anti-HIV-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in people with HIV-1; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1 infection; and Synagis to prevent respiratory syncytial virus infection in high risk infants.
Shares of LendingClub Corp (NYSE:LC), declined -1.22% to $12.14, during its last trading session.
Lending Club, declared financial results for the second quarter ended June 30, 2015 and raised its outlook for the remainder of the year.
Second Quarter 2015 Financial Highlights
- Originations – Loan originations in the second quarter of 2015 were $1.91 billion, contrast to $1.01 billion in the same period last year, an improvement of 90% year-over-year. The Lending Club platform has now facilitated loans totaling roughly $11.2 billion since inception.
- Operating Revenue – Operating revenue in the second quarter of 2015 was $96.1 million, contrast to $48.6 million in the same period last year, an enhance of 98% year-over-year. Operating revenue as a percent of originations, or our revenue yield, was 5.03% in the second quarter, up from 4.83% in the preceding year.
- Adjusted EBITDA(2) – Adjusted EBITDA was $13.4 million in the second quarter of 2015, contrast to $4.0 million in the same period last year. As a percent of operating revenue, Adjusted EBITDA margin raised to 13.9% in the second quarter of 2015, up from 8.2% in the preceding year.
- Net Loss – GAAP net loss was $4.1 million for the second quarter of 2015, contrast to a net loss of $9.2 million in the same period last year. Lending Club’s GAAP net loss comprised of $12.5 million of stock-based compensation expense during the second quarter of 2015, contrast to $8.3 million in the second quarter of 2014.
- Loss Per Share (EPS) - Basic and diluted loss per share was ($0.01) for the second quarter of 2015 contrast to EPS of ($0.16) in the same period last year.
- Adjusted EPS(2)– Adjusted EPS was $0.03 for the second quarter of 2015 contrast to $0.01 in the same period last year.
- Cash, Cash Equivalents and Securities Accessible for Sale - As of June 30, 2015, cash, cash equivalents and securities accessible for sale totaled $888 million, with no outstanding debt.
LendingClub Corporation operates as an online marketplace for connecting borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, counting unsecured personal loans, super prime consumer loans, unsecured education and patient finance loans, and unsecured small business loans.
Finally, Timken Co (NYSE:TKR), ended its last trade with - 2.41% loss, and closed at $31.22.
Timken Company, declared a quarterly cash dividend of 26 cents per share. The dividend is payable on Sept. 3, 2015, to shareholders of record as of Aug. 24, 2015.
This marks the 373rd successive quarterly dividend paid on the common shares of the company since The Timken Company joined the New York Stock Exchange in 1922, one of the longest-running dividend records among NYSE-listed companies.
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, and chain and related products worldwide. It operates in two segments: Mobile Industries and Process Industries.
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.
