On Monday, AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO)’s shares declined -6.38% to $2.28.
AVEO Oncology (AVEO) declared that, following pre-submission advisory meetings to talk about the potential submission of a Marketing Authorization Application (MAA) for tivozanib in Europe for the treatment of renal cell carcinoma (RCC), it has received written confirmation of support from the Rapporteur and co-Rapporteur for the filing of such an application. The Rapporteur (from Portugal) and Co-Rapporteur (from the United Kingdom) are the two designated members of the Committee for Medicinal Products for Human Use (CHMP) who would lead the evaluation of the MAA, if presented.
The application would be based on the Company’s existing dataset, which comprises results from the Phase 3 TIVO-1 study of tivozanib in the first-line treatment of RCC in which tivozanib demonstrated a noteworthy improvement over sorafenib in the study’s primary endpoint of progression free survival. At the advisory meetings, AVEO offered data demonstrating that the discordance in overall survival (OS), the secondary endpoint of the study, was very likely attributable to the crossover design of the study. The final meeting minutes reflect that the Rapporteurs “did not see a ‘blocking issue’ with the OS trend” and that AVEO “clearly presented a credible story for the Rapporteurs to assess but one which would need to be supported with very careful reasoning.” AVEO was also reminded that the Rapporteurs “cannot advise on [the] final outcome of the review.”
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.
First Solar, Inc. (NASDAQ:FSLR)’s shares dropped -2.83% to $49.85.
First Solar, Inc. (FSLR) reached a Fifth Amendment (the “Amendment”) to the Amended and Restated Credit Agreement dated as of October 15, 2010, as amended by the First Amendment dated as of May 6, 2011, the Second Amendment dated as of June 30, 2011, the Third Amendment dated as of October 23, 2012, and the Fourth Amendment dated as of July 15, 2013, by and among the Company, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (the “Existing Credit Agreement”, and as amended by the Amendment, the “Amended Credit Agreement”). The Amendment provides for the conversion of the tranche B revolving commitments into tranche A revolving commitments, resulting in an aggregate amount of tranche A revolving commitments equal to $700,000,000 with a maturity date of July 15, 2018. The Amendment also effects certain changes to the restrictions and covenants set forth in the Existing Credit Agreement. Subject to certain conditions, the Company has the option to enhance the commitments under the Amended Credit Agreement up to $900,000,000.
First Solar, Inc. provides solar energy solutions worldwide. The company operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells solar modules that convert sunlight into electricity. This segment manufactures cadmium telluride and crystalline silicon modules for project developers and system integrators, in addition to owners and operators of photovoltaic (PV) solar power systems.
At the end of Monday’s trade, Zions Bancorporation (NASDAQ:ZION)‘s shares dipped -0.09% to $31.81.
Zions Bancorporation (ZION) declared a corporate restructuring in conjunction with several expense and revenue initiatives that are predictable to substantially improve the Company’s profitability metrics. An investor conference call will be held recently at 5:00 p.m. Eastern Daylight Time to talk about this declarement (call details listed below). At the starting of the call, a slide presentation will be furnished under Form 8-K to the Securities & Exchange Commission and will also be accessible at zionsbancorporation.com.
The organizational changes outlined below are designed to:
- Improve the customer experience (e.g. faster turnaround times)
- Simplify the corporate structure and remove associated costs
- Drive substantial positive operating leverage
Key elements of recently declarement comprise the following organizational changes:
- Consolidate seven bank charters into a single legal charter (subject to regulatory approval), yet maintain local decision-making CEOs, local pricing of products and services, local credit authority, and local branding.
- Create a Chief Banking Officer position, with responsibility for retail banking, wealth administration, and residential mortgage lending.
- Consolidate risk functions and various non-customer facing operations.
As was formerly declared, Zions is ongoing to invest in the overhaul and simplification of its technology infrastructure, which is integral to achieving the improved customer experience and certain gross cost savings and efficiency ratio targets declared recently.
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash administration and related products and services; and residential mortgage servicing and lending.
E I Du Pont De Nemours And Co (NYSE:DD), ended its Monday’s trading session with 0.49% gain, and closed at $69.41.
- I. du Pont de Nemours and Company (DD) declared that its board of directors declared a pro rata dividend to DuPont common stockholders of record as of 5:00 p.m. ET on June 23, 2015, the record date, of the outstanding shares of The Chemours Company (“Chemours”) common stock payable on July 1, 2015, the distribution date.
As a result, on the distribution date of July 1, 2015, DuPont common stockholders on the record date will receive one share of common stock of Chemours for every five shares of DuPont common stock they hold on the record date.
- I. du Pont de Nemours and Company operates as a science and technology based company worldwide. The company’s Agriculture segment offers corn hybrid, soybean, canola, sunflower, sorghum, inoculants, seed products, wheat, rice, herbicides, fungicides, and insecticides. Its Electronics & Communications segment provides various materials and systems, counting photopolymers and electronic materials for photovoltaic products, consumer electronics, displays, and advanced printing.
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