On Monday, Advaxis, Inc. (NASDAQ:ADXS)’s shares declined -1.37% to $57.42.
On April 16, Advaxis, (ADXS), declares that production for the first quarter of 2015 is predictable to be 16.8 MMBOE, or 186.4 MBOE/d. This represents 6% sequential growth in average daily production from the fourth quarter of 2014, and exceeds the Company’s guidance.
The Company also declares that the borrowing base under its senior secured revolving credit facility was maintained at $2.4 billion following its lenders’ regularly planned semi-annual redetermination. SM Energy has elected to leave the aggregate commitment amount from the bank group unchanged at $1.5 billion. The redetermination was made under the terms of the existing facility and there were no other changes to the terms of the credit facility resulting from this borrowing base redetermination.
Jay Ottoson, President and CEO, commented, “We exceeded our operated production expectations in the first quarter with operated capital investment right at our plan. Our production outperformance and reaffirmed borrowing base in a distressed commodity price environment are a result of our ability to efficiently add production and proved reserves in our core development programs. We plan to reforecast our annual production for 2015 following the completion of our Mid-Continent asset marketing process.”
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the South Texas and Gulf Coast region, which focuses primarily on Eagle Ford shale program; Rocky Mountain region comprising the Bakken/Three Forks formations in the North Dakota portion of the Williston Basin; Permian region covering western Texas and southeastern New Mexico; and Mid-Continent region, which manages Haynesville and Woodford shale assets.
Synta Pharmaceuticals Corp (NASDAQ:SNTA)’s shares dropped -1.37% to $2.89, during the last trading session on Monday.
On April 16, Synta Pharmaceuticals Corp (SNTA), declared that poster presentations related to studies with ganetespib, a novel, potent small molecule inhibitor of heat shock protein 90 (Hsp90) in Phase 3 development, and STA-12-8666, the company’s leading candidate from its proprietary Hsp90 inhibitor Drug Conjugate (HDC) Program, will be presented at the 2015 Annual Meeting of the American Association of Cancer Research (AACR) in Philadelphia, Pennsylvania.
Poster presentations highlighting results from Synta researchers and collaborators comprise:
Ganetespib
- Ganetespib sensitizes colorectal cancer in vitro and in vivo to a clinically relevant regimen of radiation and chemotherapy
Presentation: Tuesday, April 21, 8:00 AM – 12:00 PM PT
Abstract number: 3442
Authors: Nagaraju, et al.
STA-12-8666
- STA-12-8666: a first-in-class HSP90 inhibitor drug conjugate (HDC) designed to selectively deliver chemotherapy to tumors
Presentation: Tuesday, April 21, 1:00 – 5:00 PM ET
Abstract number: 4409
Authors: Proia, et al.
Preclinical testing demonstrates strong activity of STA-12-8666, an HSP90 inhibitor-SN-38 conjugate, in small cell lung cancer (SCLC)
Presentation: Monday, April 20, 8:00 AM – 12:00 PM ET
Abstract number: 1731
Authors: Gapanova, et al.
- Development of patient-derived platform to assess activity of anticancer agents in pancreatic cancer
Presentation: Monday, April 20, 8:00 AM – 12:00 PM ET
Abstract number: 1465
Authors: Khazak, et al.
Synta Pharmaceuticals Corp., a biopharmaceutical company, focuses on the research, development, and commercialization of novel oncology medicines for cancer patients. Its lead oncology drug candidate comprises ganetespib, an Hsp90 inhibitor, which is in Phase III clinical trial for the treatment of non-small cell lung cancer; in Phase II clinical trial for patients with hormone receptor positive metastatic breast cancer; in Phase I clinical trial for the treatment of HER2 positive patients with metastatic breast cancer; in Phase II/III clinical trial for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome; in Phase I/II trial of paclitaxel in combination with ganetespib in patients with platinum-resistant ovarian cancer; and in Phase I/II trial in combination with the mTOR inhibitor sirolimus in patients with refractory sarcoma.
At the end of Monday’s trade, M&T Bank Corporation (NYSE:MTB)‘s shares dipped -1.32% to $119.21.
Yesterday, M&T Bank Corporation (MTB), stated its results of operations for the quarter ended March 31, 2015.
GAAP Results of Operations. Diluted earnings per common share measured in accordance with generally accepted accounting principles (“GAAP”) for the initial quarter of 2015 were $1.65, up from $1.61 in the first quarter of 2014. GAAP-basis net income in the recent quarter was $242 million, 6% higher than the $229 million earned in the year-earlier quarter. Net income for the first three months of 2015 expressed as an annualized rate of return on average assets and average common shareholders’ equity was 1.02% and 7.99%, respectively, contrast with 1.07% and 8.22%, respectively, in the corresponding 2014 period.
Supplemental Reporting of Non-GAAP Results of Operations. M&T compriseently provides supplemental reporting of its results on a “net operating” or “tangible” basis, from which M&T excludes the after-tax effect of amortization of core deposit and other intangible assets (and the related goodwill, core deposit intangible and other intangible asset balances, net of applicable deferred tax amounts) and gains and expenses associated with merging attaind operations into M&T, since such items are considered by administration to be “nonoperating” in nature. Although “net operating income” as defined by M&T is not a GAAP measure, M&T’s administration believes that this information assists investors understand the effect of acquisition activity in stated results.
Taxable-equivalent Net Interest Income. Taxable-equivalent net interest income totaled $665 million in the initial quarter of 2015, up from $662 million in the year-earlier period. Growth in average earning assets, reflecting raises of $4.1 billion in average investment securities, $2.8 billion or 4% in average loan balances and $2.0 billion in average balances of interest-bearing deposits at banks, was largely offset by a 35 basis point (hundredths of one percent) narrowing of the net interest margin to 3.17% in the recent quarter from 3.52% in the first quarter of 2014. The growth in investment securities resulted from continued progress made in response to regulatory liquidity requirements that will become effective for M&T in January 2016.
M&T Bank Corporation, a bank holding company, provides commercial and retail banking services. The company’s Business Banking segment offers deposit, lending, cash administration, and other financial services to small businesses and professionals. Its Commercial Banking segment provides commercial lending and leasing, letters of credit, deposit products, and cash administration services to middle-market and large commercial customers.
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