On Monday, Following Stocks were among the “Top 100 Losers” of U.S. Stock Market: MEI Pharma, Inc. (NASDAQ:MEIP), Rentech, Inc. (NASDAQ:RTK), Tribune Media Corporation (NYSE:TRCO), RXi Pharmaceuticals Corporation (NASDAQ:RXII)
MEI Pharma, Inc. (NASDAQ:MEIP), with shares drowned -69.37%, closed at $1.93, hitting new 52-week low of $1.87.
Rentech, Inc. (NASDAQ:RTK), with shares dropped -2.54%, settled at $1.15.
Tribune Media Corporation (NYSE:TRCO), with shares dipped -3.36%, and closed at $61.30.
RXi Pharmaceuticals Corporation (NASDAQ:RXII), plummeted -12.50%, and closed at $1.05.
Latest NEWS regarding these Stocks are depicted underneath:
MEI Pharma, Inc. (NASDAQ:MEIP)
On Monday, MEI Pharma, Inc. (MEIP), declared top-line data from a randomized Phase II clinical study of its investigational drug candidate Pracinostat in combination with azacitidine in patients with formerly untreated intermediate-2 or high-risk myelodysplastic syndrome (MDS). The double-blind, placebo-controlled study enrolled a total of 102 patients, randomized one-to-one, at 19 sites in the U.S.
According to the top-line data, the combination of Pracinostat and azacitidine showed no difference in the rate of complete remission (CR), the study’s primary endpoint, contrast to azacitidine alone. Data from event-driven endpoints, counting duration of response, event and progression free survival and overall survival, are immature and will require longer follow-up in order to achieve meaningful conclusions. There were no new or unpredictable toxicities observed in the study. Fatigue, gastrointestinal toxicities and myelosuppresion occurred more frequently in the combination group and resulted in a higher rate of drug discontinuations contrast to azacitidine alone. The Corporation anticipates to present full results of the study at a scientific meeting later this year.
“Our aim when we initiated this study was to build on preceding data and rigorously assess the clinical benefit of Pracinostat in combination with azacitidine in MDS,” said Daniel P. Gold, Ph.D., President and Chief Executive Officer of MEI Pharma. “While we are disdesignated with these top-line response data, we are diligently analyzing the entire data set in addition to subsets from this study. Specifically, we are trying to fully assess the influences of discontinuations on clinically important efficacy outcomes, counting duration of response, event and progression free survival and overall survival. These findings will be important to inform the future development path for Pracinostat.”
“AML represents another important component of our Pracinostat development strategy,” continued Dr. Gold. “We remain encouraged by the durable responses and long-term tolerability observed in our ongoing Phase II study and will continue to monitor these patients closely to get a better estimate of the survival benefit. However, we do not intend to initiate any further studies of Pracinostat and azacitidine until we have gained a more complete understanding of the totality of clinical data surrounding the combination. We expect to be in a position to share more information regarding these findings and future development plans for Pracinostat later this year.”
MEI Pharma, Inc. (MEIP) is a San Diego-based oncology corporation focused on the clinical development of novel therapies for cancer. The Corporation’s portfolio of drug candidates comprises Pracinostat, a potential best-in-class, oral HDAC inhibitor presently being developed for advanced hematologic diseases, such as MDS and AML.
Rentech, Inc. (NASDAQ:RTK)
Formerly on March 17, Rentech, Inc. (RTK), declared financial and operating results for the three months and year ended December 31, 2014.
Summary of Results:
The results of Rentech, Inc. and its auxiliaries comprise its wood fibre processing business, Rentech Nitrogen Partners, L.P. (RNF) (Rentech Nitrogen), and Energy Technologies as a suspended operation. The results of the wood fibre processing business are stated as three operating segments: Fulghum Fibres (Fulghum), New England Wood Pellet (NEWP), and Wood Pellets: Industrial, which comprises our Canadian pellet plants, wood fibre processing business development activities, and general and administrative expenses related to these operations. Rentech owns the general partner and about 60% of the limited partner interests of Rentech Nitrogen. Rentech Nitrogen’s results comprise two operating segments: the East Dubuque, Illinois facility and the Pasadena, Texas facility.
Results of operations comprise Fulghum since May 1, 2013, and NEWP since May 1, 2014, which were their dates of attainment.
Three months ended December 31, 2014:
Merged proceeds for the fourth quarter of 2014 were $122.6 million, contrast to $79.1 million in the preceding year period. These proceeds were comprised of:
- $28.2 million from Fulghum, an raise of $3.7 million from the preceding year period;
- $12.5 million from NEWP;
- $1.4 million from Wood Pellets: Industrial; and
- $80.6 million from Rentech Nitrogen, an raise of $26.0 million from the preceding year period.
Gross profit for the fourth quarter of 2014 was $17.4 million, contrast to gross loss of $2.8 million in the preceding year period. Gross profit was comprised of:
- $2.9 million from Fulghum, a decrease of $2.4 million from the preceding year period;
- $2.5 million from NEWP;
- $0.2 million from Wood Pellets: Industrial; and
- $11.8 million from Rentech Nitrogen, an raise of $19.8 million from the preceding year period.
Merged Adjusted EBITDA for the fourth quarter of 2014 was $4.9 million, an improvement of $24.6 million contrast to the preceding year period. Merged Adjusted EBITDA comprised of the following:
- $2.8 million from Fulghum, a decrease of $1.8 million from the preceding year period;
- $2.7 million from NEWP;
- ($4.5) million from Wood Pellets: Industrial; and
- $13.4 million from Rentech Nitrogen, an raise of $22.1 million from the preceding year period.
Rentech, Inc., through its auxiliaries, provides wood fiber processing services, wood chips, and wood pellets. The corporation operates through five segments: East Dubuque; Pasadena; Fulghum Fibres; Wood Pellets: Industrial; and Wood Pellets: NEWP.
Tribune Media Corporation (NYSE:TRCO)
Formerly on March 6, Tribune Media Corporation (TRCO), stated its results for the three months and year ended December 28, 2014 and declared a special dividend of $650 million in addition to the adoption of a quarterly dividend policy.
Special Dividend and Ordinary Quarterly Dividend:
On March 5, Tribune’s Board of Directors authorized and declared a special cash dividend of $6.73 per share on the Corporation’s Class A ordinary stock and Class B ordinary stock. In addition, holders of warrants will receive a cash payment equal to the amount of the dividend paid per ordinary share for each share of ordinary stock such warrants are exercisable into. The dividend is payable on April 9, 2015 to stockholders and warrant holders of record at the close of business on March 25, 2015. The aggregate payment the Corporation will make to its security holders in connection with this special dividend is about $650 million.
In addition, the Corporation intends to start payments of regular quarterly cash dividends of $0.25 per share commencing in the second fiscal quarter of 2015. Such future dividend payments are subject to the discretion of the Board of Directors taking into account future earnings, cash flows, financial requirements, and other factors.
These actions underscore the Corporation’s confidence in its financial future, its strong balance sheet and cash generation profile.
Fourth Quarter 2014 Financial Highlights:
- Merged operating proceeds grew 85% to $553.4 million as contrast to $299.5 million in Q4’13.
- Merged operating profit grew 276% to $163.4 million as contrast to $43.4 million in Q4’13.
- Merged Adjusted EBITDA grew 121% to $211.0 million as contrast to $95.3 million in Q4’13.
- Diluted earnings per share from ongoing operations of $3.14, as contrast to $0.33 in Q4’13.
- On a pro forma basis, Television and Entertainment segment proceeds grew 15% to $479.1 million as contrast to $415.9 million in Q4’13.
- On a pro forma basis, Television and Entertainment Adjusted EBITDA grew 30% to $202.6 million as contrast to $155.3 million in Q4’13.
- Inclusive of attainments, Digital and Data segment proceeds raised 217% year-over-year to $61.2 million and Adjusted EBITDA raised 220% year-over-year to $23.8 million.
Tribune Media Corporation, through its auxiliaries, operates as a media and entertainment corporation in the United States. The corporation operates through two segments, Television and Entertainment, and Digital and Data.
RXi Pharmaceuticals Corporation (NASDAQ:RXII)
RXi Pharmaceuticals Corporation (RXII), a biotechnology corporation focused on discovering and developing innovative therapies addressing high-unmet medical needs primarily in the area of dermatology and ophthalmology, recently declared at the annual meeting of the American Academy of Dermatology in San Francisco, several noteworthy advancements within its dermatological programs.
Enrollment has accomplished and data collection and analysis are ongoing for study RXI-109-1401 in which the clinical effect of RXI-109 treatment is being evaluated for its ability to reduce recurrence of keloids following keloidectomy. The Corporation held a meeting with an expert panel comprised of clinical advisors, practicing dermatologists and plastic surgeons, counting investigators participating in this study. This panel conducted a review of preliminary data from this study where treatment with RXI‑109 was limited to only four weekly injections over a 1-month period. The panel members looked at blinded pictures of the first seven subjects for the first few months after treatment and more often identified the placebo-treated site as showing faster recurrence of the keloid. No major side effects or safety concerns have been stated. Based on these preliminary clinical observations, a reduced recurrence of keloids treated with RXI-109 as contrast to placebo, this Clinical Advisory Panel offered a unanimous recommendation to the Corporation to lengthen the treatment regimen and to raise the number of doses with RXI-109 to reflect the chronic and aggressive nature of the formation process of a keloid. The Corporation will move forward with those recommendations and initiate an additional keloid trial in the near future.
The Corporation also declared recently that it has reached a partnership with Dr. James Krueger of The Rockefeller University for the study of the effects of Samcyprone™ on the changes in gene expression profiles influenced by diphencyprone in patients with cutaneous metastases of solid tumors treated with our product. In addition to being of high clinical relevance to patients who suffer from these metastases, this collaborative effort may lead to the identification of proteins that could be good targets for novel potent and selective RNAi compounds based on our sd-rxRNA® delivery platform. James G. Krueger M.D. Ph.D. is the D. Martin Carter Professor in Clinical Investigation and he serves as the Director of the Milstein Medical Research Program, which conducts new clinical studies of the pathogenesis of melanoma and other pigmentory diseases at The Rockefeller University Hospital in New York, NY.
The Corporation has also reached a partnership with Dr. Maria Hordinsky of the University of Minnesota and the National Alopecia Areata Foundation (NAAF) for the study of Samcyprone™ in the treatment of alopecia areata, with the aim to optimize the treatment regimen of diphencyprone is this dermatological disorder, and to better understand the mechanism of action of the drug in this disease. This partnership could lead to novel targets for development of potent RNAi compounds against this disease based on our sd-rxRNA® platform. Maria K. Hordinsky, M.D. is Professor and Chair of the Department of Dermatology at the University of Minnesota, Twin Cities campus. Dr. Hordinsky is the current president of the Association of Professors of Dermatology, Chair of the Clinical Research Advisory Council of the National Alopecia Areata Foundation and is Secretary/Treasurer of the North American Hair Research Society.
RXi Pharmaceuticals Corporation, a biotechnology corporation, focuses on discovering, developing, and commercializing therapies based on its proprietary, next-generation RNA interference (RNAi) platform.
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