On Friday, PDL BioPharma Inc (NASDAQ:PDLI)’s shares inclined 4.13% to $6.30.
PDL BioPharma, Inc. (PDLI) declared that it has reached a credit agreement with CareView Communications, Inc. (CRVW) whereby PDL will provide CareView with up to $40 million of secured debt financing. CareView is an information technology provider to the healthcare industry focused on patient care monitoring.
Under the credit agreement, PDL will provide CareView with up to $40 million of debt financing in two tranches of $20 million, based upon the achievement of specified milestones. Each tranche has a five year maturity. PDL will receive interest on the principal amount outstanding and has a security interest in substantially all of CareView’s assets. As part of the transaction, PDL received a warrant to purchase about 4.4 million shares of common stock of CareView at an exercise price of $0.45 per share.
PDL BioPharma, Inc. manages a portfolio of patents and royalty assets in the United States and Europe. The company is involved in the humanization of monoclonal antibodies and the discovery of a new generation of targeted treatments for cancer and immunologic diseases.
Knowles Corp (NYSE:KN)’s shares gained 2.10% to $18.49.
The Board of Directors of Knowles Corporation (KN) a market leader and global supplier of advanced micro-acoustic solutions and specialty components, will issue its second quarter 2015 financial results on July 27, 2015 right away after market close followed by a conference call at 3:30 p.m. Central Time (4:30 p.m. Eastern Time) to talk about the results.
Knowles Corporation designs, manufactures, and sells products and components to the mobile communications, consumer electronics, medical technology, telecommunications infrastructure, military, aerospace, and industrial markets worldwide. The company operates in two segments, Mobile Consumer Electronics and Specialty Components. The Mobile Consumer Electronics segment designs and manufactures acoustic products, counting microphones, speakers, receivers, and integrated modules for the handset, tablet, and other consumer electronic markets. \
Eaton Corp plc (NYSE:ETN), ended its Friday’s trading session with 0.58% gain, and closed at $65.77.
Eaton Corp plc (ETN) declared a number of senior leadership appointments in anticipation of Chairman and Chief Executive Officer Alexander M. “Sandy” Cutler’s retirement at the end of May 2016. The appointments are the result of the Board’s multi-year succession administration process to continue the evolution of Eaton’s strategy and performance capabilities and to sustain the company’s values-based culture.
Craig Arnold, 55, has been designated president and chief operating officer of Eaton and a member of the board of directors, effective Sept. 1, 2015. Arnold will be designated chairman and chief executive officer of Eaton on June 1, 2016. Cutler, who has been Eaton’s chairman and chief executive officer since August 2000, will retire on May 31, 2016, having reached Eaton’s mandatory CEO retirement age of 65.
Eaton Corporation plc operates as a power administration company worldwide. Its Electrical Products segment offers electrical components, industrial components, residential products, wiring devices, and structural support systems, in addition to single phase power quality, emergency lighting, fire detection, circuit protection, and lighting products. The company’s Electrical Systems and Services segment provides power distribution and assemblies, three phase power quality products, hazardous duty electrical equipment, intrinsically safe explosion-proof instrumentation, utility power distribution products, power reliability equipment, and services.
At the end of Friday’s trade, ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS)‘s shares surged 0.79% to $53.50.
ISIS Pharmaceuticals, Inc. (ISIS) offered an update on children with spinal muscular atrophy (SMA) who have accomplished the open-label, Phase 2 multiple-dose study of ISIS-SMNRx and are ongoing to receive treatment in an open-label extension (OLE) study. Comprising with earlier observations, enhances in muscle function scores and additional motor function tests were observed in children treated with ISIS-SMNRx. Isis is presently collaborating with Biogen to develop and commercialize ISIS-SMNRx to treat patients with SMA.
In the OLE study, a total of 30 children with Type II or Type III SMA received 12 mg of ISIS-SMNRx dosed intrathecally every six months. Children who enrolled in the OLE study had accomplished the open-label Phase 2 study of ISIS-SMNRx in which they had received multiple doses of either 3 mg, 6 mg, 9 mg, or 12 mg of ISIS-SMNRx. Clinical endpoints were measured every three months and contrast to each patient’s Phase 2 baseline score. These endpoints comprised of measurements of muscle function using the Hammersmith Functional Motor Scale-Expanded (HFMSE), the six minute walk test (6MWT) for ambulatory patients and the upper limb module (ULM) test for non-ambulatory patients.
Isis Pharmaceuticals, Inc. engages in the discovery and development of antisense drugs using novel drug discovery platform. The company’s flagship product includes the KYNAMRO injection, which is an apo-B synthesis inhibitor for patients with homozygous familial hypercholesterolemia; and for the reduction of low-density lipoprotein cholesterol. It also has a pipeline of 38 drugs in development for the treatment of various diseases, including cardiovascular and metabolic diseases; severe and rare diseases, which include neurological disorders; and cancer.
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