On Tuesday, Juno Therapeutics Inc (NASDAQ:JUNO)’s shares declined -2.78% to $58.42.
Juno Therapeutics Inc. (JUNO) reached a contract and Plan of Merger (the “Merger Agreement”) with X-Body, Inc. (“X-Body”), X Acquisition Corporation (“Merger Sub”), Brant Binder as representative of X-Body stockholders, and certain principal stockholders of X-Body. Following the Merger Agreement, Juno attained X-Body through a merger transaction in which Merger Sub, a wholly owned partner of Juno, merged with and into X-Body, with X-Body surviving the merger as a wholly owned partner of Juno (the “Transaction”). Juno and X-Body were formerly party to a research services and license agreement, which was reached effective as of April 10, 2014.
After giving effect to a working capital adjustment, Juno paid $19.5 million in cash and issued 439,265 shares of Juno’s common stock as the initial consideration for the Transaction. Juno also paid $1.9 million in cash at the closing to satisfy liabilities and transaction expenses at X-Body that were reflected in the working capital adjustment. 72,831 of the shares issued in the Transaction, which were issued to certain ongoing service providers, are subject to vesting during the three years following the closing. Juno also agreed to pay an additional $0.5 million in cash to ongoing employees over such three year period.
In addition, additional amounts are payable in cash following the closing upon the realization of specified milestones substantially as follows, with respect to products generated using the X-Body technology: $5.0 million per target upon the achievement, during a specified period, of a certain regulatory milestone for products that utilize a certain type of binding mechanism; up to $30.0 million upon the achievement, during a specified period, of regulatory and clinical milestones for the first product using another type of binding mechanism (any product using such type of binding mechanism, a “Type X Product”); $5.0 million per product upon the achievement, during a specified period, of a certain regulatory milestone for a certain number of subsequent Type X Products; $50.0 million upon the achievement, during a specified period, of a clinical milestone related to the first product with certain specified binding properties (a “Type Y Product”); and $20.0 million upon the achievement, during a specified period, of a clinical milestone related to the first product with certain other specified binding properties. If a Type X Product or a Type Y Product is commercialized, Juno can choose either to make a commercialization milestone payment for such a product or to pay a low single-digit royalty on net sales of such a product.
Juno Therapeutics, Inc., a biopharmaceutical company, engages in developing cell-based cancer immunotherapies. The company develops cell-based cancer immunotherapies based on its chimeric antigen receptor and T cell receptor technologies to genetically engineer T cells to recognize and kill cancer cells. Its clinical stage CD19 product candidates comprise JCAR015 that is in Phase I clinical trials for adult patients with relapsed/refractory B cell acute lymphoblastic leukemia (r/r ALL); JCAR017, which is in Phase I/II trials for pediatric patients with r/r ALL; and JCAR014 that is in Phase I/II trials to treat various B cell malignancies in patients relapsed or refractory to standard therapies.
Microchip Technology Inc. (NASDAQ:MCHP)’s shares gained 0.29% to $47.74.
Microchip Technology Inc. (MCHP) a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, recently declared that Kia Motors Corporation is enriching its infotainment system with powerful smart-phone connectivity in its flagship Kia K900 luxury sedan (known as ‘Quoris’ in some countries), using Microchip’s OS81110 Intelligent Network Interface Controller (INIC). Building on years of experience using Microchip’s MOST® INICs, Kia adopted the latest MOST150 standard for the 2015 K900 in order to take advantage of its Internet-connectivity capabilities.
To date, more than 170 million MOST interface controllers have been installed in 184 car models since 2001. Kia and all major carmakers have for many years successfully implemented MOST technology in their multi-node infotainment networking systems, as it provides a field-proven, low-risk, whole-system solution. The MOST150 standard meets Kia’s Internet-connectivity requirements. This latest version of MOST technology continues to predictably and efficiently transport video, audio, packet and control data throughout the vehicle without time-synchronization protocols, using dedicated channels for minimal processor overhead in the main infotainment control unit processors.
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers microcontrollers, such as 8-bit, 16-bit, and 32-bit microcontrollers under the PIC brand name; and 16-bit dsPIC digital signal controllers, in addition to provides microcontrollers for automotive networking, computing, lighting, power supplies, wireless communication, and wireless audio applications.
At the end of Tuesday’s trade, PPG Industries, Inc. (NYSE:PPG)‘s shares surged 0.49% to $116.00.
PPG Industries, Inc. (PPG) declared the completion of its first “Colorful Communities” charitable giving project in Europe, which assisted revitalize the Cesare Arrigo Children’s Hospital in Alessandria, Italy. The Colorful Communities program, which PPG launched in May, incorporates employee volunteers, products and charitable giving to bring color and vitality to communities where the company operates around the world. The program expands PPG’s investment in communities by committing an additional $10 million over 10 years.
The Cesare Arrigo Children’s Hospital project brought together 110 PPG employee volunteers from its Felizzano and Quattordio plants and its architectural coatings manufacturing facility in Cavallirio. Employee volunteers used SIGMA COATINGS® paint products, a PPG brand, to beautify the gates surrounding the hospital, and they planted bright flowers in the gardens on its grounds, to create a more positive and pleasant environment. PPG awarded a grant of $18,000 to Fondazione Uspidalet, a community organization dedicated to promoting the well-being of patients at the hospital, to support the project. The work assisted beautifies the children’s hospital for its 125th anniversary, which the community celebrated June 13.
PPG Industries, Inc. manufactures and distributes coatings, specialty materials, and glass products. The company’s Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; sealants, coatings, maintenance cleaners, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor for specialty applications; and chemical administration services.
Sprouts Farmers Market Inc (NASDAQ:SFM), ended its Tuesday’s trading session with 0.66% gain, and closed at $28.24.
Sprouts Farmers Market Inc (SFM) is targeting Lee’s Summit for its next metro location.
The grocery store chain, which specializes in organic and natural foods, filed a building permit application Wednesday with the city.
Sprouts plans to open inside the former OfficeMax space at 800 N.E. Missouri 291 Highway, said Mike Weisenborn, project manager with the city.
Weisenborn said he anticipates the building permit will receive approval and should be finalized in two to four weeks.
Bruns said the health foods concept is a growing trend, and that Lee’s Summit residents had been voicing their desire for a health foods store.
Sprouts Farmers Market, Inc. operates as a specialty retailer of fresh, natural, and organic food in the United States. The company’s stores offer fresh produce, bulk foods, vitamins and supplements, grocery products, meat and seafood products, deli and bakery products, dairy and dairy alternatives, frozen foods, beer and wine, natural health and body care products, and natural household products.
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